People: Societe Generale loses two senior markets execs

Fields and Escoffier depart SG; Deutsche hires Citi EQD head; Nicola White joins Citadel

Frank Drouet: new head of global markets at SG CIB, replacing Daniel Fields

Societe Generale Corporate & Investment Banking (SG CIB) has lost two senior figures in its markets team, with head of global markets, Daniel Fields, and deputy head of global markets, David Escoffier, leaving the French bank.

Fields has decided "to pursue other interests", according to a statement from the bank. A source familiar with the matter said he was developing a personal project.

Fields first joined SG CIB in New York in 1994 as an equity derivatives trader. He was named head of global markets in January 2012, after serving as deputy head of global markets.

Escoffier joined SG CIB as head of distribution for the Americas in 1999 from Crédit Lyonnais. In 2013, he was appointed chief executive officer of Newedge and deputy head of global markets for SG CIB.

Frank Drouet, former head of global markets in Asia-Pacific, took over from Fields on April 18. Drouet reports to Didier Valet, head of global banking and investor solutions. In his new position, Drouet has relocated from Hong Kong to Paris.

Since joining SG CIB in 1990, Drouet has held a variety of jobs in several different locations, working as an equity options market-maker in Zurich, heading Asian equity derivatives in Tokyo and running European volatility trading in Paris.

Marc El Asmar has been appointed head of sales for global markets, reporting to Drouet. He was previously global head of sales for equity derivatives and cross asset, and deputy head of equity derivatives.

Yann Garnier will take over from Drouet as head of global markets for Asia-Pacific. Garnier, formerly deputy head of global markets for the region, will report to Drouet and Hikaru Ogata, chief executive officer of Societe Generale Global Banking & Investor Solutions in Asia-Pacific. His appointment is subject to regulatory approval.


Deutsche Bank has hired Citi's global head of equity derivatives, James Boyle. He joins the German bank's Hong Kong office as co-head of global equity derivatives, and head of equities for Asia-Pacific.

Boyle replaces Deutsche Bank's former head of equities for Asia-Pacific, Robert Ebert, who has left the bank to focus on personal matters.

At Citi, David Haldane will replace Boyle as global head of equity derivatives in London. Haldane was previously head of equity derivatives for Europe, the Middle East and Africa. He first joined Citi in 2011 from JP Morgan, where he was head of US flow derivatives trading.

Haldane started his new role on April 12 and reports to Derek Bandeen, global head of equities in London.

A Citi spokesperson also confirmed that Bandeen is preparing to retire from the US bank. He has not set a date for his departure but will stay until the announcement of his successor.


Nicola White, global head of fixed-income e-markets at Morgan Stanley in New York, is set to join Citadel Securities.

In June, White will join the market-making business of the hedge fund as global chief operating officer for fixed income, currencies and commodities (Ficc). She will report to Paul Hamill, global head of Ficc.

During White's 13 years at Morgan Stanley she has held various roles including global head of rates e-markets and senior US government bond trader.


Peter Carr, New York-based global head of market modelling at Morgan Stanley, has left the bank after six years in the role, according to sources.

Carr first joined Morgan Stanley in 1996 as vice-president of the quantitative equity derivatives team. He later left the US bank in 1999 to become head of equity derivatives research at Banc of America Securities.

While at Banc of America Securities, he was named Risk magazine's 2003 Quant of the year. Later that year he joined Bloomberg as head of quantitative research, before returning to Morgan Stanley in his current role in 2010.


Eduardo Canabarro will join Barclays as global head of model validation in New York in May.

Canabarro left his role as global head of risk analytics at Morgan Stanley in February. He joined Morgan Stanley in 2007 from Lehman Brothers, where he was global head of quantitative risk.

Prior to Lehman Brothers, Canabarro worked in the derivatives pricing and risk modelling team at Goldman Sachs, leaving in 2004. He has also worked in fixed-income research at Salomon Brothers in the mid-1990s.


Richard Gill, co-head of foreign exchange trading at BNY Mellon, has been promoted to head of the markets business for Europe, the Middle East and Africa.

Gill will continue to be based in London and will report to Michelle Neal, president of BNY Mellon's markets business, and Michael Cole-Fontayn, chairman for Europe, the Middle East and Africa.


LCH has hired Goldman Sachs' former head of G10 foreign exchange options, Paddy Boyle, as its head of forex product. The clearing house has also appointed Daniel Maguire as global head of rates and forex derivatives.

Boyle spent 16 years at Goldman Sachs before departing in February 2014, after which he was a consulting partner for Turing Experts, an expert witness firm.

Maguire was previously head of LCH subsidiary SwapClear US. In his expanded role, he will look after development of LCH's listed and over-the-counter rates and forex derivatives business for SwapClear and ForexClear.

The appointments come a month after the head of LCH's ForexClear service, Gavin Wells, and its head of product, Basu Choudhury, stepped down.


Steve Crutchfield, head of options, exchange-traded products and bonds at the New York Stock Exchange, has joined high-frequency trading firm Chicago Trading Company.

Crutchfield joins the firm in Chicago as its head of market structure. He joined the New York Stock Exchange in 2010, and departed on April 8.

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