People: SEC names head of complex investments unit
Michael Osnato takes charge of enforcement division's complex financial instruments unit at the SEC; BAML hires Yangui as managing director; Adrian Neave exits Gilliat; Natixis names Mehrex global head of equity derivatives
The US Securities and Exchange Commission (SEC) has named Michael Osnato as chief of its enforcement division's complex financial instruments unit. The group, formed in 2010 as the structured and new products unit, investigates potential misconduct related to derivatives and complex financial products. Osnato replaces Kenneth Lench, who left the agency for the private setor at the end of July 2013. Osnato was previously an assistant director at the SEC's New York office, and prior to that practiced law at Shearman & Sterling and Linklaters.
Tom Haines has joined UBS as head of North American equities solutions structuring in New York, where he reports to Dushyant Chadha, head of Americas equity derivatives at the bank. Haines was previously head of North American derivatives product and solution structuring at Royal Bank of Scotland and vice-president in exchange-traded products and indexes at NYSE Euronext.
Mohamed Yangui has joined Bank of America Merrill Lynch as a managing director. Yangui was formerly at Lehman Brothers and subsequently Nomura in London, where he was head of the product development and structuring group. Prior to that, he was an executive director at Barclays Capital, where he was head of product development, a role he also held previously in the equities team at Credit Lyonnais Securities.
Adrian Neave, former managing director at Gilliat Financial Solutions, has left the company to pursue other interests. Neave ran the UK structured products arm of private bank Arbuthnott Lathum for more than four years. He was previously director at Keydata and has also held roles at Goy Harris Cartwright and Olliff & Partners. Steven Graham and Andrew Savill have absorbed Neave's role and are leading Gilliat on a day-to-day basis as directors.
Willem Klijnstra and Chris Jeffery, formerly of BNP Paribas Investment Partners, have joined Legal & General Investment Management's (LGIM) asset allocation team. They report to Emiel van den Heiligenberg, head of asset allocation at LGIM.
Financial services company SEI has appointed Brett Williams as UK managing director of the SEI Wealth Platform, with responsibility for leading the UK private bank team and overseeing the operation of the platform. He joins SEI from LW2 Private Equity Partnership, where he was partner. SEI also announced the appointment of Jim London to UK chief operating officer.
Technology provider Numerix has hired Tim Carley as managing director for Europe, the Middle East and Africa. Carley will oversee all direct sales efforts in the region and will also manage Numerix's London, Paris, Dubai, Frankfurt, Milan and Stockholm sales and development office locations. He reports to Joseph Saporito.
Lisa Newman, former head of settlements at financial services firm and custodian Reyker Securities, has been promoted to director of operations in London.
James Powell, former director of private banking at Banque Havilland, is joining newly launched wealth management firm RiverPeak Wealth as managing director. Powell, a private banking and financial planning veteran of 20 years, will be working with founder Nick Parker to run the business, which launched in December. The start-up has also appointed Marianne Hay to its advisory board. Hay's former roles include chief executive of Europe, the Middle East and Africa Wealth Management at Morgan Stanley, Citi and Standard Chartered.
Gage Olcott has left Citi, where he was New York-based managing director and US head of private investor product sales. Olcott joined Citi from Barclays in 2010, where he was a managing director in investor solutions Americas.
David Escoffier has landed the job of chief executive at clearing and brokerage firm Newedge, leaving his post as deputy head of global markets at Societe Generale Corporate & Investment Banking (SG CIB). Former CEO Nicolas Breteau will remain with the company in an advisory role. SG CIB is reportedly in talks to buy out Crédit Agricole, its Newedge co-owner.
Natixis has hired Selim Mehrez in Paris as global head of equity derivatives, reporting to Luc Francois, head of global markets for wholesale banking at the French bank. Mehrez was formerly global head of financial engineering and derivative strategies at Morgan Stanley in London, head of pricing and new products at Societe Generale in Paris, and deputy head of structuring for Europe, the Middle East and Africa at Goldman Sachs in London.
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