People: UBS beefs up US equity derivatives team

roger-naylor
Roger Naylor, UBS

UBS has hired Dushyant Chadha as head of its Americas equity derivatives business and Jason Hedberg as head of Americas equity derivatives sales.

Chadha was previously global head of equity derivatives trading risk and strategy at Deutsche Bank. He joined the German bank in 2009 as head of Americas equity derivatives trading after a spell at Citi, where he was a managing director.

Hedberg was hired from Société Générale Corporate & Investment Banking, where he had been head of equity derivatives sales for seven years. Prior to that, he spent three years as assistant portfolio manager at hedge fund Amaranth Group. Chadha and Hedberg report to Roger Naylor, global head of equity derivatives, and are based in the US.

The UBS equity derivatives business has seen some notable appointments and departures in the past year. Departures have included Axel Kilian, the global head of equity derivatives sales and head of equity distribution in Europe, the Middle East and Africa, Paulo Zuolo, the London-based head of equity derivatives for Italy, as well as a number of trading and sales staff in Hong Kong, Tokyo and London.

Naylor joined the bank in September 2012, having held the same role at Deutsche Bank, while UBS’s global head of structuring, Shane Edwards, joined a month earlier from Royal Bank of Scotland.

The head of quant research for the business, Manos Venardos, joined at the same time as Naylor, from his post at Nomura.

In August this year, Thomas Morris joined UBS in New York as the bank’s head of US index and Vix trading. He had previously been at Barclays.

 

Kieran Higgins joined Royal Bank of Scotland at the beginning of October as head of fixed-income trading for Europe, the Middle East and Africa (Emea). He is based in London and reports to Michael Lyublinsky, head of global trading, and  Peter Nielsen, co-chief executive of the markets division.

Higgins joined from Nomura, where he was co-head of fixed income for Emea for five years, following a 13-year stint at Lehman Brothers.



Nomura has made a number of additions to its Asian derivatives teams. In Taiwan, the bank hired Mei-Yu Shih as head of Taiwan equity sales and trading. She joins from Bank of America Merrill Lynch (BAML), where she worked for the past 12 years. Her most recent position with the US bank was head of Taiwan equity sales, a role she took up in 2008.

The move continues the Japanese bank’s recent trend of targeting BAML staff, beginning with the appointment of Yasuhiro Fujiwara as regional head of equities in March.

In Singapore, Freddy Lim has joined as global head of derivatives strategy. He reports to Des Supple, head of global markets research, and Tony Morris, global head of market quantitative strategy. Lim joins from Millennium in Singapore, and prior to that role was head of G-10 rates strategy at Citi and head of interest rate strategy for Asia-Pacific at Morgan Stanley.

In Tokyo, the bank has hired Barrie Feldman as co-head of yen rates trading. Feldman will work alongside Naoya Murata, and report to Yutaka Nakajima and Matt Reader. Feldman joins with 15 years of experience across various fixed-income products. His most recent role was at BNP Paribas Japan, where he was head of fixed-income trading.

In addition, David Rockliff has been appointed head of flow sales for global markets in Australia. He continues to report to Jon Linton, Samir Bhandari and Andrew Loo. Before the move, he was head of credit sales for Australia within the global markets fixed-income division.

 

Société Générale Corporate & Investment Banking (SG CIB) has made a number of new appointments to its global equity flow business. Josh Elboim has joined the cross-Atlantic flow sales team in London and will report to Jonathan Brandeis in New York and Alastair Beattie in the UK.
Elboim joined from Credit Suisse, where he was director in the European equity derivatives team since 2011. Before joining Credit Suisse, Elboim spent seven years at Morgan Stanley as a vice-president in the equity derivatives sales trading team.

Andrew Sleath has also joined as a vice-president in the London-based equity derivatives flow sales team. He comes with experience in equity derivatives sales at JP Morgan, Citi and Mariana Capital Markets, and reports to Alastair Beattie.

Patrick Bartholet and Ben Cobain have also joined SG CIB’s index volatility trading team from Royal Bank of Scotland. Bartholet has been appointed head of index volatility trading in Europe, while Cobain joins as a FTSE volatility trader. Bartholet reports to Sebastien Wuidart, head of volatility trading for Europe, and Cobain reports to Bartholet. Both are based in London.



Credit Suisse has named Garrett Curran as its new UK chief executive. He succeeds James Leigh-Pemberton, who is leaving the bank to head UK Financial Investments, the body created in 2008 as part of the UK’s response to the financial crisis.

Curran, who has worked for the Swiss bank since 2008, takes on this position alongside his other roles as head of fixed-income sales in Europe, the Middle
East and Africa (Emea) and Emea chief client officer.

His most recent position before joining the Swiss bank was as head of Dresdner Kleinwort’s global finance group, a new division created with Curran as its head, which he left in June 2007 after only a few months in the role. He then took a sabbatical for just over a year before joining Credit Suisse.



Citi has appointed Mahnaz Safa as head of sales for the European derivatives solutions group (DSG). Based in London, she will focus on corporate clients in the UK and Ireland, reporting to Sanjay Khemani, head of corporate sales for the DSG for Europe, the Middle East and Africa (Emea).

Safa joins from UBS with 19 years of experience in seven different roles. She joined the Swiss bank in 1992 and moved to her latest role as co-head of Emea debt capital markets in 2009 after being promoted for the fourth time in two years.



Mark Cooke will join HSBC as global head of operational risk on January 1, 2014. He will replace Alan Smith, who took on the role in the interim period between Matthew King’s retirement in July 2013 and the hiring of Cooke.

Cooke joins from Barclays Wealth and Investment Management in London, where he has been chief risk officer since 2009. Prior to joining Barclays, he worked at UBS for more than 20 years in a variety of executive roles including chief operating risk officer for Europe, the Middle East and Africa, and managing director and head of Americas branch operations. Cooke is also a former employee of Deutsche Bank and Indosuez Bank.

Cooke will join an operational risk team of approximately 500 people globally. Among other responsibilities, he will oversee the bank’s advanced measurement approach programme.



Michael Bodson, president and chief executive officer of the Depository Trust & Clearing Corporation (DTCC), has been named chairman of Omgeo’s board of managers following its acquisition by the DTCC in early October.

Bodson joined the DTCC in 2007 from Morgan Stanley, where he worked for 20 years. He succeeds Andrew Gray as chairman, who is managing director of core business management at DTCC and will remain a member of the board.

Joan Binstock, chief financial and operations officer at investment management firm Lord Abbett and Co, is also joining the board as a member. Tim Collier, chief financial officer of financial and risk at Thomson Reuters, is leaving the board following the company’s sale of its 50% stake in Omgeo to the DTCC.

 

VTB Capital has appointed Dimitrios Kavvathas as head of global markets for Asia-Pacific. Based in Hong Kong, he reports to Vitaly Bouzoveria, global head of fixed income at VTB Capital, Mark Richardson, acting global head of equities at VTB Capital, and regionally to Damian Chunilal, chief executive for Asia.

Kavvathas joins the firm from Goldman Sachs, where he had been partner since 2008. He worked on the Asia-Pacific securities division operating committee as the co-head of Asia-Pacific ex-Japan securities distribution and Asia-Pacific head of structuring in 2009.



After an 18-month break from the market, Mark Warms has joined BBVA as head of foreign exchange sales for the US. He is based in Houston, Texas, and will be responsible for a team of seven in Houston, Birmingham and New York. He reports locally to Tom Grant, head of forex for North America, and globally to Luis Azofra, global head of forex sales in London.

Warms left FXall 18 months ago, where he was global head of sales. He co-founded FXall in 2001 and was working as general manager for Europe, the Middle East and Africa when the company went public in February 2012, later being acquired by Thomson Reuters in July 2012. Prior to this, he worked at Credit Suisse for seven years.



UBS Global Asset Management (UBS GAM) has appointed John Dugenske as global head of fixed income. He succeeds Rob Gambi, who is leaving the firm after seven years. Gambi will rejoin Henderson Global Investors as chief investment officer in 2014.

Dugenske has also become a member of the UBS GAM executive committee and reports to chief executive and chairman John Fraser. He continues to be based in Chicago. Before securing the role, Dugenske worked for UBS GAM in New York, Chicago and London. Prior to joining in 2009, he was head of fixed income for Europe, the Middle East and Africa at the asset management business of Lehman Brothers.



Richad Soundardjee has been appointed group chief region officer for the Middle East and chief executive of Société Générale Corporate & Investment Banking (SG CIB) in Dubai. He reports to Slawomir Krupa, chief executive of central and eastern Europe, the Middle East and Africa for corporate and investment banking, private banking, asset management and securities services.

He replaces Eric Wormser, who will move to another position within the bank. Soundardjee joined SG CIB in 1999 as director of equity capital markets and has since held a number of roles in investment banking.

Elsewhere, SG CIB has appointed Benoît Desserre as head of payments and cash management within the bank’s global transaction banking division. He replaces Alain Grugé, who has moved to a regional head role with the bank in France. He reports to Christian Behaghel, head of the global transaction banking division.

Desserre joined the bank in 1989 and has since held a number of roles across Europe, America and Australia. After working in New York and Dallas as a senior relationship manager, he moved to Paris in 1995 to expand the bank’s international commodity finance department. He then moved to Australia to take up the role of head of commodities and trade finance.



BNP Paribas has appointed Pierre de Villeneuve to replace Eric Lombard as chairman and chief executive of BNP Paribas Cardif. Lombard has moved on to a new role as chief executive at Generali France.

De Villeneuve was previously deputy chief executive of BNP Paribas Cardif. He has been with the bank since 1992 when he took up his first job as managing director of Cardif Assurance Vie and has since worked in other senior roles within the firm.

Meanwhile, Pierre Veyres has been named chief executive of BNP Paribas Singapore and regional head for South-east Asia. Veyres succeeds Jean-Pierre Bernard, who has retired from the bank.

Veyres joined BNP Paribas in 1990 and held a number of positions in France before securing the position of chief operating officer for BNP Paribas Canada. He also worked in New York for five years before moving to Singapore in 2009, where he was most recently global head of BNP Paribas CIB transaction banking.

Elsewhere, Eric Martin has also been promoted to inspector-general. He takes over the position from Pierre Schneider, who has become an adviser to the BNP Paribas general management team.

Since joining the bank in 1975, Martin has been country head for the French bank in Japan, Germany and Luxembourg, where he supervised the integration of the Banque Générale du Luxembourg into the BNP Paribas Group in 2009.



Jean-Philippe Cotis has joined BNP Paribas as head of economic research and group chief economist. He reports to Philippe Bordenave, BNP Paribas Group chief operating officer.

Cotis had been chief economist of France’s High Council on public finances since 2012. He has also worked as the head of the forecasting department at the French ministry of economics and finance, as chief economist at the Organisation for Economic Cooperation and Development and director-general of the French National Institute of Statistics and Economic Studies.



Deutsche Bank’s global transaction banking division has appointed Jose Sicilia as new global head of global equity services. He is based in New York and reports to Satvinder Singh, global head of trust and securities services and cash management financial institutions.

Sicilia was previously head of the corporate trust business for Europe, the Middle East and Africa. He has also been regional head of the trust and securities services and cash management financial institutions business unit for western Europe.

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