Barclays has hired Naseer Al-Khudairi (pictured) as global head of electronic equities. He will also become regional head of cash equities, responsible for Europe, the Middle East and Africa. He is set to join in early March and will be based in London, reporting to Stephen Dainton, global head of equities, a spokesperson for the bank says.
Al-Khudairi’s previous roles include head of electronic products for global markets at Credit Suisse and prior to that head of Emea cash equities at the Swiss bank.
The appointment follows several other senior hires in Barclays’ markets business during 2017, including Dainton, and Guy Saidenberg, head of distribution and structuring.
Wells Fargo has named Sarah Dahlgren as head of regulatory relations. She joins the company on March 12 and will be based in New York.
Dahlgren is a former senior bank regulator, who worked at the Federal Reserve Bank of New York for 25 years, latterly as head of financial institution supervision. In that role she oversaw many of the US’s biggest banks and developed new supervisory policies and procedures.
At Wells Fargo, she will report to chief risk officer, Mike Loughlin, until his successor is named, the company said in a statement. He announced on January 17 that he would be retiring.
Dahlgren’s tasks will include overseeing regulatory relations for Wells Fargo’s corporate risk function, and helping to co-ordinate efforts with domestic regulators and those in other jurisdictions.
She joins from management consultancy McKinsey, where she was a partner in the risk practice.
Citi’s global head of commodities, Stuart Staley, is to move from London to Hong Kong to take up a new role as head of markets and securities services for Asia. His replacement is José Cogolludo, the bank’s head of sales for commodity derivatives.
Cogolludo will report to the London head of markets and securities services, Paco Ybarra.
Staley joined Citi in November 2012 from BNP Paribas, where he was global head of commodity derivatives sales from May 2007 – a period which included rapid change in the commodity derivatives business, as institutions reacted to the drying up of funding and capital in response to the financial crisis, as he told Energy Risk in 2012.
Jochen Theis has joined Deutsche Bank as head of market and counterparty credit risk methodology, leaving his role as global head of market models at Standard Chartered, Risk.net has learned. Theis is understood to have started his new position on February 19.
He has relocated from Singapore to Berlin, reporting to Lars Popken, global head of risk methodology at Deutsche in London. Both banks declined to comment on the move.
Prior to joining the German lender, Theis spent more than seven years at Standard Chartered, starting in September 2010 as head of market risk methodology. In April 2014, Theis shifted roles to become global head of market models, part of the group’s risk management function. He was also in charge of valuation model governance, as well as validation of valuation and counterparty credit risk models, according to his LinkedIn profile.
Before joining Standard Chartered, Theis served as head of research for the quantitative analytics group at Markit, now IHS Markit. Prior to that, he was head of quantitative risk management at Merrill Lynch, and before that, was a quant at Citi.
Separately, David Liberatore, a New York-based senior sales trader at Deutsche Bank, left the firm in January, according to a source familiar with the matter.
MetLife’s vice-president of global regulatory policy and government relations Edite Ligere (pictured) has left the US insurer. The move follows a reduced need for regulatory and government engagement at the firm after the decision by the US Appeals Court in January to dismiss an Obama administration appeal that could have rebranded MetLife a systemically important financial institution.
Speaking to Risk.net, Ligere says she left the insurer very recently but for non-disclosure reasons cannot say at present where her next role will be.
Investment manager Citadel has hired Will Evans as commodities chief operating officer, based in Chicago. Evans will start in April and will report to head of commodities, Sebastian Barrack, who joined Citadel himself in July last year.
Evans worked at Goldman Sachs from 2006, the year he graduated from Warwick University. His first position was on the commodities sales desk. In 2009, he became commodities franchise manager, responsible for business development and strategic planning. The role took him from London to Singapore and, latterly, New York.
Jonathan Finney has joined Citadel Securities – Citadel’s market-making business – as a director of European business development, a spokesperson says.
In the new role, he will manage electronic trading relationships with several European banks, brokers and exchanges. He will be based in London and will report to Remco Lenterman, head of global business development.
Previously, Finney worked at Fidelity International as head of systematic trading.
JP Morgan Chase has made Daniel Pinto and Gordon Smith joint presidents and chief operating officers of the company. The moves are part of succession planning for existing chairman and CEO Jamie Dimon’s eventual retirement.
The pair will continue in their existing roles: Pinto as head of the corporate and investment bank, Smith as head of consumer and community banking.
They will work closely with Dimon on “critical firm-wide opportunities”, the company said in a statement. Dimon has agreed to stay on for “approximately five more years”, the statement added.
Pinto has spent his whole 35-year career at JP Morgan Chase and has led the corporate and investment bank for the last five years.
Smith joined Chase in 2007 and previously worked at American Express, where he managed the US domestic card businesses.
Denmark’s Saxo Bank has hired Ulrik Ross (pictured) as head of group treasury. Ross started on March 1 and reports to Steen Blaafalk, head of group finance and risk. He will be part of Saxo Group’s senior management team.
Ross replaces Henrik Andersen, who has moved to a new role in the management board of Danish municipal credit institution KommuneKredit.
Ross will handle treasury activities including managing the bank’s liquidity and professional bank and broker relations and pricing the bank’s capital and liquidity resources.
He joins from HSBC in London where he was global head of public sector and sustainable financing. Before this, he worked at Nomura International in London, following posts in treasury and funding in Denmark and Finland.
UniCredit has made several senior management changes in Germany. Michael Diederich is to become country chairman for Germany and CEO of HypoVereinsbank, UniCredit’s German arm. He replaces Theodor Weimer, who left last year to head up Deutsche Börse.
Diederich’s former position as head of corporate and investment banking for Germany goes to Jan Kupfer, who was previously co-head of global transaction banking. The other co-head, Luca Corsini, now takes sole charge of the post.
Kupfer started his career at UniCredit in 1991, covering various roles including regional head of the business division in Germany, head of corporate and investment banking for the Americas, and global co-head of structured credit for corporate and investment banking.
Elsewhere, UniCredit has appointed Francesco Salvatori as its new head of corporate and investment banking for the Americas. He replaces Alfredo Maria De Falco, who recently became head of corporate and investment banking for Italy.
Salvatori moves to New York for the role, which started on March 1. He reports to Gianfranco Bisagni and Olivier Khayat, co-heads of corporate and investment banking.
Salvatori’s previous position was head of markets for Italy, based in Milan. He took up this role in 2011 when he joined UniCredit from Banca IMI, where he was head of financial institutions sales. Among other posts, he spent seven years at Barclays Capital in derivatives sales and debt origination between 1995 and 2002.
ANZ has appointed Kevin Corbally as chief risk officer. He will take up the Melbourne-based role on March 19, reporting to chief executive Shayne Elliott.
Corbally has worked at ANZ since 2009, most recently serving as group general manager for internal audit. He joined ANZ from Citi, where he was head of corporate and commercial banking in Australia and New Zealand.
In his new role, Corbally will be responsible for protecting the company’s balance sheet and overseeing risk strategies and policies.
Moritz Kraemer, the chief ratings officer for sovereign and international public finance ratings at Standard & Poor’s, left the company in February. He had worked at the rating agency since 2001, and had held his current Frankfurt-based role since 2013. Previously, he was head of the sovereign ratings group for Europe, the Middle East and Africa. Before S&P, he worked for the Inter-American Development Bank.
According to a spokesperson for S&P, he will be replaced by Roberto Sifon-Arevalo, who is currently the managing director in charge of sovereign and international public finance ratings for the Americas, based in New York. Sifon-Arevalo has worked at S&P since 2003, and previously held analytical positions at Banco Santander and Banco Sudameris in Argentina.
Interdealer broker TP Icap has made a number of senior appointments to its institutional services division. Mark Allen becomes the division’s chief operating officer, moving across from a similar role in the electronic markets business.
Paul McNee joins Mirexa Capital, a subsidiary of TP Icap, as head of foreign exchange for Asia-Pacific. He previously worked at ANZ, where he was a senior forex salesperson. Giorgio Fossi also joins Mirexa in forex and listed derivatives sales for the Emea region. He was most recently executive director for hedge fund rates sales at Crédit Agricole. And John Buckley becomes a listed derivatives execution specialist at Mirexa. He has previously held head of desk roles at a number of broking houses including MF Global and JB Drax.
Within Coex Partners, another TP Icap subsidiary, John Martin has been appointed managing director in New York. Martin’s previous employers include Raymond James and Newedge Group. Paul Chappell has been named alternative investments specialist at Tullett Prebon Alternative Investments. He was previously at Quest Fund Placement.
BNP Paribas Asset Management has appointed Christophe Bonnefoux in the newly created role of chief data officer. Based in Paris, he reports to Fabrice Silberzan, chief operating officer.
Bonnefoux will handle data management, helping to define the data quality management framework. Previously, he worked for Arthur Andersen, Ernst & Young and Accenture Digital, where he advised on data and business analytics strategies.
Tomas Hazleton has joined UK banking start-up CivilisedBank as chief risk and compliance officer. He will be responsible for risk, compliance, anti-money laundering and data protection. The role has a seat on the executive committee.
Hazleton started on February 1 and is based in London. He previously worked at C. Hoare & Co, where he was chief risk officer. Since relocating to the UK from the US in 2006, Hazleton has also worked for Threadneedle, GAM, Bank of America Merrill Lynch and AllianceBernstein.
CivilisedBank was granted a banking licence by the Bank of England in May 2017 and is currently building up its infrastructure and preparing for a launch to customers in 2018. It will offer online banking services to small and medium-sized enterprises (SMEs). It will be funded by SME and retail savings.
Hitachi Capital UK has announced the appointment of John Shiels as its chief risk officer. He was previously at investment platform Interactive Investor, where he monitored all aspects of risk, compliance and financial crime. He has also held senior roles at Clydesdale Bank, Virgin Money and RBS.
He will be based in Leeds for Hitachi Capital and will lead its second-line risk function, overseeing the assessment and mitigation of risk across the whole business.
Sunil Daswani, head of international securities lending at Northern Trust, has left the US asset manager, a spokesperson confirmed.
The role will be split between Mark Jones, who will lead securities lending for the Emea region, and Dane Fannin, who will look after the Asia-Pacific region. Jones was previously head of international product management within the securities lending business, while Fannin was head of capital markets for Asia-Pacific.
UK trading firm OSTC has recruited Lee Hodgkinson as its new chief executive officer. He is set to take on the role from early April 2018.
Hogkinson is currently head of Euronext London. He also leads the markets and global sales division at parent company Euronext NV.
Mark Slade will step down as CEO at OSTC and will move to the newly created role of vice-chairman.
US trading tech firm Thesys Technologies has appointed Vas Rajan as chief information security officer for its Thesys CAT subsidiary. He will report to Andre Frank, president of Thesys CAT, and will be based in New York.
He will be responsible for ensuring security compliance of the Consolidated Audit Trail (CAT) system and developing and executing cyber security plans for the CAT platform.
Rajan most recently served as chief information security officer and business continuity officer at CLS Bank, a foreign exchange market utility, where he was in charge of the security strategy of the company.
Rodd Ramsay, formerly a senior engineer in corporate treasury strategy at Goldman Sachs, is leaving the company, according to a source close to the firm.
Based on his LinkedIn profile, Ramsay has been at Goldman for more than 14 years and has also served as head of performance and analytics strategists for the securities division, and head of equity derivative structuring strategists for the Emea region.
Michael Armer has joined Mizuho International as executive director with responsibility for risk and trading strategy, a spokesperson confirmed.
He joined Mizuho in London on February 12 and reports to Zahra Peerbhoy.
Armer previously worked at Credit Suisse responsible for credit products e-trading and market structure, leaving in 2014.
Additional reporting by Philip Alexander, Alexander Campbell, Hayden Rubenstein and Callum Tanner
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The week on Risk.net, December 1–6, 2019Receive this by email