Deutsche Bank hires Banque de France’s Matherat

Sylvie Matherat will take top regulatory job at Deutsche Bank, filling gap left by departure of Andrew Procter in March; reshuffle in senior markets roles at HSBC; Munari leaves Morgan Stanley; Yarian promoted at Barclays

Sylvie Matherat

Senior French central banker Sylvie Matherat has been appointed global head of government and regulatory affairs at Deutsche Bank.

Matherat will join the German bank in August from Banque de France, where she is currently deputy director general of operations and director of financial stability. She has also been the French central bank's representative on the Basel Committee on Banking Supervision, and is co-chair of its liquidity group.

Matherat has held previous positions at the Committee on Payment and Settlement Systems, the Crisis Management and Resolution Steering Group of the Financial Stability Board, and has been a member of the Payment and Settlement Systems committee of the European Central Bank.

Deutsche Bank's former head of compliance and regulatory affairs, Andrew Procter, stepped down in March, and Matherat will take on some of his responsibilities. Based in Frankfurt, she will report to Stephan Leithner, a member of the management board responsible for government and regulatory affairs. She will also become a member of the group executive committee that advises and monitors performance for the management board.

Matherat joined Banque de France in 1986, and held various senior positions at the Commission Bancaire – a forerunner to the Autorité de Contrôle Prudentiel – including director of policy and international relations and head of the banking survey division. She became director of financial stability at the French central bank in 2007 and deputy director general of operations in 2011.

From 1993 to 1995, Matherat worked for Paribas Capital Markets as head of structured finance, and from 1985 to 1986 for Societe Generale as auditor of the retail and investment banking division. She has been outspoken about the new realities banks face in a Basel III world, and dismissed their complaints that profits will suffer. "It is very difficult to explain why the real economy has a return-on-equity of around 4–5% while the financial sector has something like 15% or 20%. If the financial sector is making much more profit than the real economy it is supposed to finance, then there is an issue," she told Risk in a 2009 interview.

The German bank has also announced that Fabrizio Campelli, head of group strategy, is joining the group executive committee, alongside Matherat. Campelli joined Deutsche Bank in 2004 and held several roles in corporate finance prior to leading group strategy since 2009. Before Deutsche Bank, he worked at McKinsey & Company.

 

HSBC has appointed current head of credit, Niall Cameron, to replace Thibaut de Roux as head of markets for Europe, the Middle East and Africa (Emea). 

De Roux was promoted to head of global markets at the start of May, replacing Jose-Luis Guerrero, who became head of the global banking and markets division for Emea – a new position. 

Cameron joined HSBC in 2010 from ABN Amro, where he was global head of traded markets. Prior to that, he was head of equities and indexes at Markit. In his new role, he will report to de Roux and Guerrero.

HSBC will not name a direct replacement for Cameron – instead, global credit, rates and emerging markets will be combined into a single business to be run by Elie El Hayek, the bank’s current head of rates. 

Elsewhere at HSBC, Georges Elhedery has become head of global banking and markets for the Middle East and North Africa (Mena). Elhedery has been head of markets for Mena since 2010, and took on responsibility for capital financing and securities services for the region in 2013. He joined HSBC in 2005 as global head of structured rates, and has previously held senior roles at Paribas in Tokyo and Goldman Sachs in London.

 

Alvise Munari, global head of equity derivatives sales and financial engineering in London, and Pierre Mendelsohn, Hong Kong-based head of Asia equity derivatives distribution and global head of retail structured products, have left
Morgan Stanley. 

Munari joined Morgan Stanley from Bank of America Merrill Lynch (BAML) in 2010, where he was head of multi-asset structured product and flow equity derivatives distribution for Europe, the Middle East and Africa. He has also worked at Goldman Sachs and JP Morgan. 

Mendelsohn also joined the bank in 2010 from BAML as a London-based managing director of the structured solutions group, reporting to Munari. He moved to Hong Kong in 2011 to take on a broader role in equity sales and distribution.

Craig Verdon, also based in Hong Kong, will assume responsibility for Morgan Stanley’s derivatives business in Asia, alongside his role as head of Asia equity trading.

 

Barclays has promoted Michael Yarian to head US interest rates trading and global rates e-trading in New York. London-based Tim Stack will take on Yarian’s former role as head of the agency derivative services (ADS) business, which covers listed and over-the-counter clearing, and listed derivatives execution, as well as foreign exchange and commodities prime brokerage.

Yarian previously worked on the rates trading desk at Barclays in London between 1997 and 2006, after which he moved to New York to become co-head of US dollar rates trading. In 2009, he relocated to Tokyo as head of global markets for Japan, and in 2011 he returned to New York to head the ADS business.

Stack has held a number of roles at Barclays, including global head of futures and, most recently, head of prime services distribution for Europe, the Middle East and Africa.

 

Jeff Feig, global head of Group of 10 (G-10) foreign exchange at Citi, is leaving the bank to join hedge fund Fortress Investment Group. 

During his 25-year career at Citi, he was responsible for all sales and trading for G-10 currencies, and chaired the Federal Reserve Bank of New York’s foreign exchange committee from 2010 until January 2014. Feig joins Fortress as a portfolio manager and co-chief investment officer of the Fortress macro fund. He also becomes co-president of the liquid markets business. 

Feig’s move follows the departure of Anil Prasad, who left his role as Citi’s global head of forex and local markets in February. 

Tim Doar, Chicago-based chief risk officer for clearing house risk at CME Group, has retired. 

Doar, who reported to head of clearing, Kim Taylor, had been with CME for 23 years and began his latest role in 2004. He has also worked as director of financial management, overseeing the development of the collateral programme, bank and custodian relationship management, counterparty risk evaluation and risk assessment. 

He has held a variety of other positions at the clearing house, including manager of trade-processing systems, operations project manager and clearing house supervisor.

 

Societe Generale Corporate & Investment Banking (SG CIB) has hired Laurent Mitaty as global head of securitisation and distribution solutions. Based in Paris, he reports to Patrick Ménard, global head of capital markets. 

Mitaty was previously European head of securitisation and distribution solutions for SG CIB. In his new role, he will oversee the global securitisation business for corporates and financial institutions. 

He joined the French bank’s real estate finance group in 1999, and has worked on a range of securitisation programmes and private financing solutions. 

BNP Paribas has hired David Samuels as head of commodity derivatives sales for the Americas, covering corporate and investor clients. He is based in New York and reports to Catherine Flax, head of commodity derivatives for the Americas. 

Samuels joins from JP Morgan, where he was head of commodities financial sponsor coverage – a role in which he oversaw sales of commodity derivatives to private equity firms. He left in April, not long after Blythe Masters, JP Morgan’s then-global head of commodities, announced her resignation. Prior to JP Morgan, Samuels worked at Morgan Stanley and US energy firms Enron and Dynegy.

 

Pimco has hired Rick Chan and Jason Goldberg as portfolio managers, based in the company’s Newport Beach office. They will focus on equity and interest rate derivatives strategies and report to Josh Thimons, managing director and port-folio manager, who manages the firm’s volatility strategies. 

Prior to joining Pimco, Chan spent more than a decade at Merrill Lynch and then Bank of America Merrill Lynch, most recently as a managing director of interest rate derivatives trading in New York. Goldberg previously worked for hedge fund Och-Ziff Capital Management in New York. 

The asset manager has also hired Geraldine Sundstrom from Brevan Howard as a portfolio manager, reporting to Mihir Worah, deputy chief investment officer and head of the real return and multi-asset portfolio management teams. Based in Pimco’s London office, she will begin her role in the first quarter of 2015.

At Brevan Howard, Sundstrom led the emerging markets strategy fund. She has also worked as a portfolio manager at Moore Capital, and in senior fixed-income research roles within Citigroup Global Investments and Pareto Partners.

 

Paul Davenport, head of forex spot trading for central and eastern Europe, the Middle East, and Africa and Asia non-deliverable forwards at JP Morgan, is joining Nomura. 

Based in London, it is understood Davenport will take over Bernard Singer’s former role as head of emerging markets forex trading for Europe, the Middle East and Africa. Singer recently left Nomura to join Citi.

 

Matthew Daniel, a director in the corporate solutions group at Citi, has joined Wells Fargo, where he will head its foreign exchange strategy, policy and financial reporting practice in New York. He reports to Dave Napalo, head of the forex risk management group.

Daniel had been with Citi as a director for nearly a decade, working across forex, rates and commodity derivatives products. He previously worked at ABN Amro in a corporate risk management strategy role, and has held senior positions in forex risk management and corporate treasury at a number of firms over the past 30 years, including Centerre Bank, Chase Manhattan Bank, Deloitte, Ford and Union Carbide Corporate.

 

Mark Schlater, chief operating officer (COO) for foreign exchange derivatives at UBS, has left the bank and been replaced internally by Zurich-based Vasco Nunes. 

Schlater was based in New York, where he reported to Anthony Hall, global head of forex derivatives. He had been at UBS for more than 22 years in various senior roles, including head of middle office for six years, before taking on the COO role. He is now on gardening leave, and it is unclear what his next position will be.

Nunes has been with UBS since 2010. Prior to joining the Swiss bank he was head of forex derivatives change at Barclays. 

 

Paul Newman will step down as London-based managing director of Icap Energy from July, having led the group for the past 24 years. He will, however, take on the new role of chairman of Icap Energy, reporting to David Casterton, chief executive officer (CEO) of global broking. 

Dennis Crum, who remains CEO of Icap Energy US, will replace Newman and head Icap Energy globally. Graham Francis, a business manager at Icap Energy, will take on responsibility for energy and commodities in Europe. 

 

Lloyds Bank has hired Kurt Dillmeier as head of US flow credit sales in New York.

Dillmeier joins the bank from the Royal Bank of Scotland, where he was responsible for developing the liquid credit business. Dillmeier has 21 years’ experience in the banking industry, and has worked at Bear Stearns and JP Morgan.

The UK bank has also hired Keith Tamayo for its credit sales team. He joins from Bank of America Merrill Lynch, where he was a vice-president responsible for cross-asset credit sales. He began his career at Morgan Stanley 11 years ago, and has held roles in credit sales at Societe Generale.

 

US dark pool operator IEX has appointed former US regulator John Ramsay as its chief market policy and regulatory officer. Ramsay will work with investors, broker-dealers and governmental and regulatory authorities, and oversee the firm’s compliance with its regulatory obligations when IEX is registered as a national securities exchange.

Ramsay has 25 years’ experience in positions concerning regulation and oversight of securities markets and intermediaries, most recently as acting director of the US Securities and Exchange Commission’s division of trading and markets. 

 

Georges Chodron de Courcel, chief operating officer (COO) of BNP Paribas, will retire in September. De Courcel has been with the French bank for his entire 42-year career, holding various positions such as head of equity research, head of asset management and head of capital markets. He was named COO of BNP in 1996, and became COO of BNP Paribas in 2003 following the creation of the BNP Paribas Group in 1999.

 

Euronext has appointed Jos Dijsselhof as chief operating officer (COO). He is based in Amsterdam and reports to Dominique Cerutti, group chief executive officer.

Before joining Euronext, Dijsselhof was general manager of group hubs at Australia and New Zealand Bank (ANZ) in Singapore, where he was responsible for expanding ANZ’s network of offshore services for banking operations.