The Paris-based European Securities and Markets Authority (Esma) elected two new members to its management board of national regulators on November 5.
They are Lourdes Centeno, from the Spanish Comisión Nacional del Mercado de Valores (CNMV), and Elisabeth Roegele, of German regulator Bafin.
Centeno is a vice-president of CNMV and previously served as general technical secretary at the Spanish Ministry for Economy and Competitiveness.
Roegele has served as Bafin's chief executive director for securities supervision since May.
Previously, she was general counsel and head of the corporate centre for legal affairs at DekaBank Deutsche Girozentrale. Prior to joining DekaBank, she also worked at Bafin, in the regulator's ad hoc disclosure section in Frankfurt.
The pair replace Kostas Botopoulos, the president of the Hellenic Capital Market Commission, and Martin Wheatley, former chief executive of the UK Financial Conduct Authority, both of whom are stepping down.
Klaus Kumpfmüller, the executive director of the Austrian Financial Market Authority, was also re-elected to the board on November 5, Esma said.
Former rogue trader Nick Leeson and risk consultant Mike Finlay have launched a new risk education, advisory and investigation firm called Risk Team.
Leeson and Finlay are now founding partners at Risk Team, which is based in the UK. Risk Team says it will focus on raising risk awareness around human behaviour, culture, conduct and corporate governance and it specialises in operational risk management, compliance, mismanagement, unauthorised activity and sensitive investigation.
In a statement, Leeson said the new venture was inspired by the consequences of his own actions as a trader at Barings Bank 20 years ago, along with more recent risk management lapses at German car manufacturer Volkswagen and UK telecoms firm TalkTalk.
"As with every organisational scandal, there are numerous warning signals that have been ignored and Volkswagen and TalkTalk are no different," he said. "Barings was described as a wake-up call that nobody would ever forget, yet a brief look at the last two decades clearly shows the opposite effect."
Alexander Culley has been promoted to the newly created role of group chief compliance officer at Sucden Financial.
Culley first joined the London-based broker in 2013 as deputy head of compliance. He has since been responsible for Sucden's reporting under the US Foreign Account Tax Compliance Act, as well as making sure the firm complies with the requirements of the European Market Infrastructure Regulation in areas such as the clearing and reporting of derivatives trades.
He previously held compliance roles at UK-based broker Triland Metals and London-based Boyer Allan Investment Management.
Commerzbank has promoted Marcus Chromik, its chief credit risk officer, to the post of chief risk officer. He replaces Stefan Schmittmann, who will become a strategic adviser to the German bank.
Chromik joined Commerzbank in 2009, serving as chief market risk officer for its corporates and markets segment, with responsibility for market and liquidity risk management. He previously held roles at consultancy firm McKinsey & Company and German lender Postbank. He will assume his new role on January 1, 2016, subject to approval by the European Central Bank.
Christine Cumming has been appointed to the board of directors at LCH.Clearnet. At LCH, she will serve as an independent non-executive director and member of the risk committee.
Cumming joins from the Federal Reserve Bank of New York, where she worked for 35 years. Most recently, she was the New York Fed's first vice-president and chief operating officer. In earlier positions at the bank, she specialised in bank supervision and economic research.
In a related move, former LCH chief executive Roger Liddell has joined risk management vendor NetOTC as chief executive. Liddell became an adviser to NetOTC in 2011 and was appointed as a non-executive board member in 2013. Before joining LCH.Clearnet, he worked at Euroclear and Goldman Sachs.
Founded in 2011, NetOTC develops risk management and risk mitigation solutions for bilateral over-the-counter derivatives.
Gerard Kammerer has been named as chief risk officer at 36th Street Capital, a New York-based equipment financing firm.
Kammerer joins from commercial lender CIT Group, where he was a senior credit officer. At 36th Street Capital, he will serve alongside chief executive Kiran Kapur, a former colleague at CIT.
In addition to his experience at CIT, Kammerer has held a variety of credit and risk management roles at lenders such as AT&T Capital and MetLife Capital.
The week on Risk.net, September 8-14, 2018Receive this by email