People: HSBC appoints markets head to new digital role

HSBC has appointed Niall Cameron to a new role as head of corporate and institutional digital. Patrick George, former global head of equities at the UK bank, has replaced Cameron as head of global markets, Europe, Middle East and Africa (Emea).

Cameron and George stepped into their new roles on July 1 and will both continue to be based in London. Cameron is now responsible for developing digital initiatives for HSBC's global banking and markets (GB&M) and commercial banking (CMB) excluding business banking, and reports to both Samir Assaf, chief executive of GB&M and Noel Quinn, chief executive of CMB.

Cameron was in his previous role for two years. He first joined HSBC as global head of traded credit in 2010, and prior to that was global co-head of equities, indexes, commodities, risk management and economics at Markit.

George now reports to Thibaut de Roux, head of global markets, and Jose-Luis Guerrero, head of global banking and markets, Emea. George has also maintained his previous role as global head of equities until HSBC announces a successor.

Andre Cronje, former UBS global chief operating officer (COO), has joined HSBC as its London-based chief operating officer (COO) of global banking and markets (GBM).

Cronje started his new role on June 13, reporting to Samir Assaf and group COO Andy Maguire.

He has replaced Didier Deschamps, who had held the role as COO of GBM on an interim basis after David Burnett left the UK bank in March. Deschamps is now global head of balance sheet management at HSBC, having assumed the role on July 1.

Cronje had been global COO of UBS investment bank since January 2013 until he left in November last year. He was replaced by Beatriz Martin Jimenez, who was appointed to the role in October 2015.

Meanwhile, in HSBC's Hong Kong offices, the bank has appointed Jeremy Steen as head of derivatives clearing services, Asia. He assumed the role on May 1.

Steen reports to Nicola Pantone, head of equity derivatives institutional sales, Asia-Pacific and also Najib Lamhaouar, global head of OTC and ETD clearing for HSBC Securities USA.

Alex Lenhart, a managing director and head of European prime derivatives at Credit Suisse, has left the Swiss bank.

A spokesperson for the bank confirmed Lenhart had left in June "to go onto other things".

Lenhart first joined Credit Suisse in July 2009, working in prime services. He later became head of European prime derivatives in 2012.

The bank has split his position between Stephen Plestis and Martin Glanville, who are now co-heads of prime derivatives services, Emea.

Both Plestis and Glanville are based in London and report to Jeff Jennings, head of European prime services, and John Dabbs, global head of prime derivatives services.

Prior to their new appointments, Plestis and Glanville had been managing directors in prime derivatives.

Chris Mitchell, an executive director and global head of clearing operations change & commercial control at JP Morgan, left the US bank in May to start his own consultancy called Solutions 4 Clearing.

Mitchell has based his consultancy in London and it will focus on providing services to clients active in the derivatives market. Services include: risk control, regulatory advice and business strategy.

A source with knowledge of Mitchell's departure from JP Morgan said no replacement had been announced.

Mitchell had first joined JP Morgan in 2011 as an executive director. Previously, he had worked at UBS for 13 years in a variety of roles.

Benoît Ottenwaelter has retired as group chief risk officer (CRO) at Societe Generale after 28 years at the French bank. He has been replaced by Diony Lebot (pictured), former deputy group CRO, who assumed the new role on July 1.

Paris-based Lebot reports to Séverin Cabannes, group deputy chief executive.

Ottenwaelter had been group CRO at Societe Generale since 2009. During his time at the French universal bank he has held a number of senior positions, including head of treasury and foreign exchange, head of fixed income, currencies and commodities (Ficc) and head of the corporates, institutions and advisory division.

Lebot had become deputy group CRO in March last year and reported to Ottenwaelter in that position. She first joined in 1986 and has held a number of positions, including in structured finance and in the firm's corporate and institutions division.

Citi has parted company with London-based David Cohen, former Europe, Middle East and Africa (Emea) head of flow credit trading.

Amit Raja has undertaken part of Cohen's responsibilities as Emea head of flow credit trading, becoming head of Emea high-yield trading on June 16. Raja has also maintained his roles as global head of distressed trading and Emea head of par loan trading.

Cohen had stayed with the US bank until the end of June to manage the investment-grade trading desk and to help find a successor.

Cohen had joined Citi in New York in 2010 as head of US investment-grade trading.

Paul Marchington has been hired by Citi as Asia-Pacific (Apac) head of investor services sales, a spokesperson for the US bank has confirmed.

Previously, Marchington had worked at UBS as co-head of equity finance in London.
Marchington will be based in Citi's Hong Kong office and will step into the role on August 1.

Regionally, Marchington will report to David Russell, Apac head of investor services, and Julia Raiskin, Apac head of investor sales. He will also report globally to Alan Pace, head of sales for investor services, and Murray Roos, co-head of global equities.

Barclays' Kraig Knas has been hired by Citadel Securities as senior vice-president for sales and relationship management for the firm's Ficc market-making business.

Based in Chicago, Knas reports to Angie DiCarlo, Ficc sales and relationship management.

It is understood Knas had left his role at Barclays in May and had worked on its macro sales desk.