People: JP Morgan names equity co-heads to replace Throsby

Leung and Sippel new equity co-heads; BNY Mellon's new Apac chairman; StanChart's commodities head; and more

Jason Sippel: new co-head of equities for JP Morgan

JP Morgan has appointed Hong Kong-based Mark Leung and London-based Jason Sippel as global co-heads of equities, both internal promotions.

The pair stepped into their new roles on September 7, reporting to Daniel Pinto, chief executive of JP Morgan in Europe, the Middle East and Africa. They will both also manage the prime services business with James Kenny, head of investor services.

Leung was promoted to his previous position of head of Asia-Pacific equities in 2014, after becoming head of Asia-Pacific equity derivatives in 2013.

Sippel has been with the US investment bank for 14 years. Prior to becoming global head of prime services, he had held senior equities roles including head of Americas equity derivatives sales and trading, and head of Americas equities.

The announcement was made after Tim Throsby, the former global head of equities, moved to Barclays as the chief executive of the corporate and investment bank, as well as president of Barclays corporate and institutional.


BNY Mellon has made David Cruikshank chairman of its Asia-Pacific region. Based in Hong Kong, Cruikshank will chair the Asia-Pacific executive committee and lead the regional management team. Working with BNY Mellon's global business heads, he will serve as the company's primary representative with the local regulatory authorities and oversee client management for the region. He will report to Karen Peetz, president of BNY Mellon.

Cruikshank succeeds Stephen Lackey, who was Asia-Pacific chairman from 2011 and now takes on the vice-chairmanship of the company's Pennsylvania region in addition to a new strategic client management role within the global client management group.

Cruikshank joined BNY Mellon in 2003 and leads the corporates and public finance market segment team. Prior to this role, he served as CEO of treasury services at BNY Mellon.


Cengiz Belentepe is moving to Standard Chartered as global head of commodities in financial markets. He will report to Jonathan Paul, global head of financial markets. He joins from Barclays, where he was also global head of commodities.

Based in Singapore, Belentepe will join Standard Chartered in October as the permanent replacement for Arun Murthy, who retired from Standard Chartered on June 13. Jeremy East, head of metals trading and commodities for Greater China and North Asia, served as acting global head of commodities after Murthy's departure.


DBS Group Holdings has installed Shee Tse Koon as group head of strategy and planning. Shee will report to CEO Piyush Gupta and be a member of the bank's group management committee. With 22 years of banking experience in different regions including Asia, the Middle East and UK, Shee will provide counsel to the senior leadership team on major strategic issues. Most recently, he was the CEO of Standard Chartered's Indonesia franchise.

Prior to his posting in Indonesia, he was chief information officer and head of technology and operations for Standard Chartered in Singapore. Before this, he was the executive assistant to Standard Chartered's group executive director for Africa and the Middle East, based in the UK.


Sun Life Financial has made David Varley Asia's chief of high net worth and wealth structuring in Hong Kong. He will report to Jason Dehni, CEO of Sun Life Hong Kong. Varley will be responsible for developing the regional strategy for the high net worth client segment and managing key partner relationships, and related operations and marketing across the region.

Prior to this, Varley worked for Axa for more than a decade. Most recently, he was the head of high net worth at Axa Hong Kong.


Caroline Sim, a former director for Greater China foreign exchange sales at Commerzbank, has joined US broker INTL FCStone as head of forex sales for Asia-Pacific in its Singapore office.

Sim spent five years at Commerzbank. Before that, she was director of forex and derivatives sales at Natixis between 2006 and 2011.


Government minister Ong Ye Kung has replaced Lawrence Wong Shyun Tsai as one of the 10-person board of directors at the Monetary Authority of Singapore. He will serve a term of approximately three years, ending on May 31, 2019.

Most recently, Ong served in two ministerial roles, as the acting minister for higher education and skills, and senior minister of state at the Ministry of Defence. Prior to his ministry work, he worked as a director of strategy for the Keppel Corporation, a commercial group owned by Singapore's state investment fund, and was a deputy secretary-general for the country's state-run trade unions.


Bank Negara Malaysia has appointed Adnan Zaylani Mohamad Zahid as an assistant governor. He took up the role on August 1. Zahid is now responsible for investment operations, financial markets, forex administration, legal, and currency management and operations departments.

Zahid has worked at BNM for 22 years, specialising in investment operations and financial markets. He holds a master's degree in global market economics from the London School of Economics.


Neil Quigley, vice-chancellor of the University of Waikato, has been elected as chairman of the Reserve Bank of New Zealand, replacing Rod Carr. Quigley's term of office started on September 23.

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