Morgan Stanley loses retail structured products head

No replacement for Copplestone named at Morgan Stanley; SEC names new commissioners; Min Park joins Standard Chartered; industry veteran Dickie exits Barclays; FCA names senior directors;

frank-copplestone
Frank Copplestone

Frank Copplestone, global head of retail structured products at Morgan Stanley in London, has left the bank, according to industry sources. No replacement has been named and Copplestone has not gone to another bank, said the sources. Copplestone had replaced Pierre Mendelsohn as head of the global platform after the latter moved to Hong Kong as a managing director and head of derivatives distribution in Asia, a position he continues to hold.

Copplestone was named head of the US investment bank's global retail products platform in June 2011, moving from New York, where he had been head of structuring for the Americas since August 2008. Prior to that, Copplestone had been based in London as head of the bank's European structuring team.

Copplestone joined Morgan Stanley from Deutsche Bank, where he had been a managing director and head of structuring for Asia. Before that, he was head of structuring for the German bank's European operations. He joined Deutsche from Commerzbank, where he worked for five years, finally as head of complex equity derivatives trading. Copplestone started as a trader in equity derivatives at Credit Suisse in late 1993, moving to do the same job at Bankers Trust in 1996.

 

Susan Chan started work as head of Asia-Pacific iShares capital markets at Blackrock in Hong Kong on July 11. Reporting to Jane Leung, head of iShares Asia-Pacific, Chan was previously Asia-Pacific head of equity structuring and DBx at Deutsche Bank in Hong Kong. Prior to that, she worked as head of equity and fund structured markets Asia and managing director of equity derivatives at Barclays and Bear Stearns, respectively.

 

Michael Piwowar and Kara Stein have been sworn in as commissioners at the US Securities and Exchange Commission (SEC). The SEC has five commissioners, whose terms each last five years. Piwowar succeeds Republican Troy Paredes, while Stein replaces Democrat Elisse Walter. The two commissioners were formerly US Senate aides, with Piwowar also serving as a chief economist for the Senate banking committee. Current SEC chair Mary Jo White was separately confirmed to a full term expiring June 5, 2019, having been previously confirmed to serve out the term of Mary Schapiro that expired in June 2014.

 

Min Park has joined Standard Chartered as global head of equity derivatives and convertibles sales. He is based in Hong Kong and reports to Simon Brookhouse, global head of equities. Park was previously head of the equity derivatives and convertible bonds sales team for Asia-Pacific at Credit Suisse in Hong Kong. He joined Credit Suisse from UBS in June 2009, along with Ken Pang, as co-heads of equity derivatives and convertibles, where they had led the rival Swiss bank's Asian equity derivatives business.

Standard Chartered has also appointed Mike Garcia as head of Hong Kong equities sales trading and Jamie White as director, equities sales trading. Both are based in Hong Kong and will report to Richard Stone, global head of equities sales trading. Garcia has been at Standard Chartered for 15 years, and before that was head of Hong Kong sales trading at Barclays Capital. He also worked at Bank of America Merrill Lynch, ITG Securities, Macquarie Bank and Kim Eng Securities. White also joined Standard Chartered from Barclays, where he was most recently director, equity sales trading. He previously held a similar role at Bank of America Merrill Lynch.

 

Colin Dickie, a managing director and head of UK retail, investor solutions at Barclays in London, has left his position at the bank. Barclays would not confirm a replacement or a timescale for Dickie's departure from the investor relations team, but structured products bankers elsewhere suggest that he will stay within the industry. "Colin has retired from Barclays, as opposed to his tenor there having been ‘auto-called'," says Chris Taylor, managing director at Investment Bridge, a financial consultancy in London. "He did a formidable job, with Barclays often at the forefront of the industry. I've no doubt that he still has a lot to offer the sector and I doubt he'll be retiring completely." Dickie joined Barclays in 2004 from KeyData Investment Services.

 

Catharine Bradley has been appointed head of strategic transactions for Asia-Pacific at Société Générale (SG), based in Hong Kong and reporting to Yann Garnier, head of cross-asset solutions and fixed-income sales for the region, and to Olivier Buttier, head of solutions and strategic transactions. Bradley's appointment marks the launch of the French bank's newly formed strategic transactions group, which offers a comprehensive range of equity-related solutions and risk management products to address the changing needs of its clients. Prior to joining SG, Bradley was at Credit Suisse, where she headed its equity-linked solutions group in Asia.

 

The UK Financial Conduct Authority (FCA) has completed the senior structure in the regulatory body's supervision division by appointing four directors. Linda Woodall is now director of mortgages and consumer lending; Karina McTeague is director of retail banking; Nick Poyntz-Wright has been appointed director of long-term savings and pensions; and William Amos has been made director of wholesale banking and investment management. All four will report to Clive Adamson, director of supervision at the FCA. The supervision division, which was created in April 2013, is scheduled to become responsible for consumer lending in April 2014.

 

Amundi has appointed Christopher Crystal as head of Nordic distribution, following the opening of the French bank's representative office in Sweden in March. Crystal reports to Christian Pellis, head of global external distribution, and his appointment comes in the wake of the arrival of Bjorn Sandberg, head of exchange-traded fund client relationships, and is part of the bank's plans to develop its distribution business in Europe and Asia.

Amundi has also appointed Eric Vandamme as head of risk for the Amundi Group and a member of the executive committee. Vandamme joined the risk department of Paribas in 1998 as head of operational risk management, before moving to Caisse Nationale de Crédit Agricole as special adviser reporting to the chief financial officer, followed by positions in the financial department of Group Crédit Agricole.

Amundi has also hired Nicholas Melhuish as head of global equity in London. Melhuish joins from UBS Global Asset Management, where he held the same position. Prior to that, Melhuish was lead portfolio manager responsible for global equity strategies with Nicholas-Applegate Capital Management in San Diego, California and London.

 

Law firm Milbank, Tweed, Hadley & McCloy has appointed John Williams to work in its New York office. Williams was previously head of the US derivatives practice at Allen & Overy. Williams also worked as US counsel to the International Swaps and Derivatives Association during the revisions to credit derivative protocols after the financial crisis.

 

Raiffeisen Group's Notenstein Privatbank has added Claudio Topatigh and Sinah Wolfers to its structured products team in Switzerland. They will be based in St Gallen and report to Patrik Rüthemann, head of the department. Both Topatigh and Wolfers were previously employed at Zürcher Kantonalbank, where they worked at the structured products sales department.

 

Exchange-traded products provider Source has appointed Faisal El-Hakim, Philippe Secnazi, Dennis Bergot and Gemma Steel to its London office. El-Hakim will cover institutional investors in the Middle East and North Africa, Secnazi will cover institutional investors in France, Luxembourg, Belgium and Monaco, Bergot will be part of the marketing team as a German-language analyst and Steel will join the legal department.

 

Index provider FTSE Group has appointed Elroy Dimson as chairman of the FTSE Policy Group. Dimson is a professor at the London Business School and visiting professor at Cambridge Judge Business School. Dimson replaces David Hobbs.

 

Société Générale Private Banking has appointed Olivier Gérard as head of portfolio management solutions and strategy and asset expertise. He will be based in Luxembourg and replaces Stéphane Wathier. Gérard will report to Bruno Lèbre, head of wealth management solutions. Gérard joined Société Générale in 2004 after working as an advisory manager at Crédit Agricole Private Banking.

 

Legal & General Investment Management (LGIM) has appointed Janice Wu as head of Asia-Pacific sales and distribution. Wu was previously managing director for State Street Global Advisers at its south Asia business. LGIM opened its offices in Hong Kong in July 2013, with Alan Flynn as head for the region, to whom Wu will report.

 

Abigail Herron has joined Aviva Investors as head of engagement in its global investment team. Herron will report to Steve Waygood, chief responsible investment officer. Prior to this position, Herron worked at Co-operative Asset Management as head of the corporate governance function.

 

Blackrock's ETF arm, iShares, has named Tom Fekete head of product development in Europe, the Middle East and Africa. Based in London, Fekete will report to Joe Linhares, head of iShares EMEA. Prior to this position, Fekete was head of investment products and global head of FX advisory at Barclays Wealth.

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