Changing hats

Vincent Baritsch has become manager of the op risk and liquidity risk policy teams at the UK’s Financial Services Authority (FSA), after the departure in the fourth quarter of 2004 of Colin Tattersall. Tattersall left the FSA to take a post with Ireland’s financial services regulator. Baritsch was previously head of co-ordination Of Capital Initiatives, Prudential Standards Division of the FSA. Baritsch began to work as an economist in the City in 1991 and joined the Bank of England’s banking supervision department in 1996. Following a transfer to the FSA he become a supervisor in the Investment Management Regulatory Organisation firms department of the FSA. Baritsch became the project manager for the FSA’s Basel and EU negotiatons in 2001, and he has represented the FSA on the Working Group on Other Risks in EU negotiations, which discusses investment firm-related issues.

Robert Albano

Robert Albano has joined Jefferies, a New York-based brokerage firm, as senior vice-president and global head of compliance. Albano had previously worked for Merrill Lynch as director of capital markets and core compliance, until December 2003. He was also past president of the Securities Industry Association’s legal and compliance division. The post is a new one at the brokerage firm, which sacked a trader in October 2004 for improper travel and entertainment expenses. The firm is currently undergoing a wider probe by the US Securities and Exchange Commission.

Adrian Snaith

Adrian Snaith has joined FitchRisk’s Opvantage division as a senior vice-president, op risk sales. He will report to Scott Grayson, managing director. FitchRisk’s parent company, Fitch Ratings, announced the acquisition of Toronto-based risk management software firm Algorithmics in December 2004.

Tom Davin

Tom Davin has been confirmed as vice-president of the Financial Information Services Division (FISD) of the Software & Information Industry Association, officials say. Davin has been acting vice-president since October 25, after the departure of his predecessor, Mike Atkin. Atkin was sacked from the US-based market data trade group in late October 2004 after leading the organisation for 20 years. Personality conflicts between FISD and its parent organisation were partly to blame, according to industry sources.

Eliot Spitzer

Eliot Spitzer, the attorney general of New York, announced that he would be standing for governor of New York State in the 2006 election on the Democratic party’s ticket. There has been speculation about Spitzer’s intentions for some time in New York’s political circles. He was named attorney general in 1999, and has since raised his national profile through a series of cases against financial services firms. His office is currently in the middle of a probe of the insurance industry, and according to a statement made at end-2004, it plans to launch several new probes in January.

James Sproull

James Sproull is to head SunTrust Banks’ anti-money laundering compliance department. Sproull has been with the US’s eighth-largest bank for more than 20 years, in various capacities. He will retain his current responsibilities as corporate banking operations manager, according to a statement. The appointment comes after several changes at the senior management level at the bank.

Andrew Procter

Andrew Procter, the head of enforcement at the UK’s FSA, will leave at the end of January to become the head of compliance for the UK and Europe at Deutsche Bank. He will take up that post in April. As head of enforcement at the regulator, Procter fined 57 firms a total of £43.1m for alleged regulatory lapses, including £190,000 paid by Deutsche’s asset management arm. He previously worked for the Hong Kong Securities and Futures Commission and the Australian Securities Commission.

James Gertie

James Gertie joined New Jersey-based Commerce Bank as chief risk officer in early December. He will oversee all corporate risk management functions, including compliance, loan review, internal audit, and interest rate risk. Before joining Commerce he was the chief credit and risk officer for Provident Financial Group, based in Ohio.

Simon Ashby

Simon Ashby has left the Cooperative Bank, based in Manchester, and joined the Nottingham Building Society as head of op risk. Ashby has also been senior manager of op risk at Lloyds TSB, working with Jeremy Quick, head of op risk at that firm. Prior to joining Lloyds, he had worked for the UK’s FSA in the firm’s Prudential Standards division, where he was heavily involved in developing consultative paper 142 and several other regulatory initiatives. Prior to that, he taught at Nottingham University Business School’s Centre for Risk and Insurance Studies.

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