Deutsche Bank loses Fan ahead of investment banking overhaul

Deutsche's Fan exits; Credit Suisse investment banking co-head retires; Sweden's prudential regulator hires new director general

colin-fan-2015
Colin Fan: resigned from Deutsche Bank

Colin Fan has resigned as co-head of corporate banking and securities (CB&S) at Deutsche Bank, effective October 19, after a 17-year career at the bank. Fan previously headed the global credit and emerging markets businesses and, in an earlier position, Deutsche Bank's Asian equities operation. The bank declined to comment on Fan's resignation.

As part of a wider reorganisation at the bank, the CB&S unit will be replaced by two new divisions on January 1: corporate and investment banking, combining the corporate finance business in CB&S and global transaction banking, and global markets, encompassing CB&S's sales and trading activities. All four core business divisions will have representatives on the management board.

Garth Ritchie, currently head of equities, will join the management board as head of global markets. Ritchie has been with Deutsche Bank for 19 years in a variety of roles. Meanwhile, Jeff Urwin, co-head of CB&S with Fan, will take responsibility for corporate and investment banking on the management board.

Management board member Stefan Krause, currently in charge of global transaction banking, has resigned, as has Stephan Leithner, chief executive for Europe. Sylvie Matherat became chief regulatory officer on November 1, assuming responsibility for regulation, compliance and anti-financial crime. Matherat was previously head of government and regulatory affairs at Deutsche Bank, having joined the company in 2014 from Banque de France.


Gael de Boissard, co-head of Credit Suisse's investment bank, is set to retire after 15 years at the Swiss bank. Boissard joined in 2001 from JP Morgan, where he had worked for more than 10 years. At Credit Suisse, he led several of franchises, including the interest rates, global macro and fixed-income businesses. He took on the role of co-head of the investment banking arm in 2012, joining the executive board in January 2013. Boissard has also served as first chairman of the Association for Financial Markets in Europe and he is a long-standing board member of the Global Financial Markets Association.

 

Richard Jackson, former head of European flow rates at Deutsche Bank, has joined Alphadyne Asset Management as a portfolio manager, based in London. Before his flow rates role, he worked in the swaptions team. His departure was understood to be tied to the arrival of Sam Wisnia as head of fixed income and currencies structuring, as well as head of strategic analytics for the corporate banking and securities department, in November 2014.

Insiders at Deutsche say Wisnia later also became European head of rates trading, leading to a change in reporting lines.

 

Goldman Sachs has recruited Hong Kong-based Cedric Podevin as a managing director to head its Asia ex-Japan fixed-income structuring team. Podevin joins from BNP Paribas, where he had a 20-year career. In his most recent role at the French bank, Podevin headed fixed-income structuring for Asia-Pacific, overseeing credit, foreign exchange and rates derivatives structuring.

 

Wenchi Hu and Christian Sabella have been appointed as associate directors in the office of clearance and settlement in the trading and markets division at the Securities and Exchange Commission (SEC). Hu will supervise registered clearing agencies, including clearers of securities-based swaps. Sabella will lead a team advising the commission on financial market infrastructure firms, such as clearing agencies, transfer agents and security-based swap data repositories.

The SEC has also named Chyhe Becker as an associate director in the division of economic and risk analysis in the office of litigation economics, which focuses on data-driven economic and statistical analysis in investigations and litigation.

 

Erik Thedéen has joined Swedish prudential regulator Finansinspektionen as director general. Thedéen was previously chief executive of KPA Pension and has worked at the Swedish finance ministry, Nasdaq OMX (Stockholmsbörsen) and the Swedish National Debt Office.

 

ING has hired Dominique LeMaire as head of a new high-yield joint venture between the firm's corporate and sponsor lending business and its capital markets unit. LeMaire reports to Leo Greve, global head of capital markets, and Krista Baetens, global head of the specialised financing group. LeMaire, who also becomes co-head of high-yield debt capital markets, formerly led UniCredit's high-yield capital markets business.

 

Christine Cumming has been appointed to the board of directors of LCH.Clearnet as an independent non-executive director and a member of the risk committee. She joins from the Federal Reserve Bank of New York, where she worked for 35 years. Most recently, Cumming was the central bank's first vice-president and chief operating officer. In earlier positions at the bank, she specialised in bank supervision and economic research.

 

SIX Swiss Exchange has recruited Frédéric Messein as head of its new corporate bond-trading platform. Previously, he was global head of fixed income and foreign exchange product management and content strategy at Thomson Reuters and, before that, head of sales and trading products in Europe, Middle East and Africa at Reuters.

 

Anders Henrikson, head of foreign exchange products at Lloyds Bank, is leaving after seven years at the bank. He will be replaced by Rob Hale, currently head of interest rate swaps, by the end of the year. Hale was head of sterling swaps at Lloyds from 2007 to 2013, having joined the lender from National Australia Bank.

Vikas Dabral, head of forex derivatives trading, is also leaving Lloyds and will be replaced by Marc Guilbert, current head of forex options. Guilbert moved to Lloyds in 2011 from Citi, where he was a forex options trader.

 

Thomas Tziavragos, head of North American forex options trading at JP Morgan, has left the bank. He joined in 2012 from Barclays Capital, where he was head of forex options trading.

 

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