New chief executive for Zurich Capital Markets

Zurich Capital Markets (ZCM), the alternative asset management unit of Zurich Financial Services, has hired Stephen Sinacore as its new chief executive. He replaces Randall Kau, who left the firm to “pursue other interests".

Prior to joining ZCM, Sinacore was managing director of Royal Bank of Scotland's Greenwich Capital Markets in London, responsible for the firm's fixed-income business in Europe as well as its derivatives activities globally.

Sinacore has also worked at JP Morgan, where he built up cash trading and derivatives businesses in multiple markets, including foreign exchange, fixed income, commodities, mortgages and equities.

"[Sinacore] brings over 20 years of broad capital markets experience to the group, and I am confident that his expertise in derivatives, structured finance and credit products will allow us to build,” said David Wasserman, chief executive of the global asset business division of Zurich Financial Services.

Founded in 1996, ZCM serves a global client base including financial institutions, hedge funds, funds-of-funds, trust funds and high-net-worth individuals.