Changing Hats, May 2010

Philippa Girling, Morgan Stanley

KATHLEEN GRIFFIN
The US Securities and Exchange Commission (SEC) has appointed Kathleen Griffin as its first chief compliance officer as part of the US regulator’s attempts to strengthen its internal compliance programme. The regulator says the role was created to centralise oversight of employee securities transactions and financial disclosure reporting. The new compliance unit is part of the SEC’s Office of Ethics Counsel. Griffin joins the SEC from money manager Putnam Investments, where she was senior compliance manager and deputy code of ethics officer.

PHILIPPA GIRLING
Philippa Girling has been appointed chief of staff at Morgan Stanley, reporting to global head of operational risk Jane Carlin. She will  take up the position in April. Girling was previously of-counsel and head of banking and financial services at law firm Garrity, Graham, Murphy, Garofalo & Flinn in New York. Before that she served as global co-head of op risk at Japanese bank Nomura. Before Nomura, Girling was a founder of Morgan Stanley’s firm-wide operational risk department, and served as chief operating officer of the bank’s financial control group and chief administrative officer of its retail brokerage controllers group.

HAMISH LOCK
Hamish Lock joined Royal Bank of Canada in April as vice-president for operational risk. He was previously head and senior operational risk officer at Bank of Montreal (BMO). Lock joined BMO in August 2008 from UK bank HBOS (now part of Lloyds Banking Group) where he was head of its op risk framework. Before HBOS he was at Commonwealth Bank of Australia as its Basel II  programme manager.

DAVID MURPHY
The International Swaps and Derivatives Association (Isda) has hired David Murphy as its new head of risk and reporting. He will be based at Isda’s London office and report to Conrad Voldstad, its chief executive officer. Murphy will manage Isda’s risk management and financial reporting work streams, especially in relation to Basel II. Before joining Isda, Murphy founded risk management and structured products consultancy Rivast, and served as chief operating officer for Merrill Lynch’s reinsurance business. He has also worked as a risk manager at Banque Paribas and at the UK Financial Services Authority.

SUSAN MERRILL
The US Financial Industry Regulatory Authority’s (Finra) head of enforcement, Susan Merrill, is stepping down to return to her private legal practice. Merrill became head of enforcement at New York Stock Exchange Regulation in 2004 and stayed in the role when part of that organisation merged with the National Association of Securities Dealers in 2007 to form Finra. Merrill’s departure date has not been confirmed and Finra has yet to find a replacement for the role.

MARK CORONNA
Wolters Kluwer has appointed Mark Coronna as its new managing director for Europe. He report to chief executive officer for financial and compliance services, Brian Longe. Coronna was previously an executive vice-president in the company’s securities and insurance unit.