People moves: Morgan Stanley names FX co-heads, Dray expands BNPP role, Singh switches post at Bank of America, and more

Latest job changes across the industry

Aengus Hallinan - UBS logo removed - web.jpg
Aengus Hallinan: joins BNY Mellon in newly created position

Morgan Stanley has overhauled its foreign exchange trading business, naming Samer Oweida and Craig Abruzzo as co-heads of the division. 

The moves come against the backdrop of a reported $170 million trading loss on options positions at the US bank last year. At least four traders were fired or suspended while investigating what a Bloomberg article described as a “mismarking of securities”.

Risk.net revealed in February that the US bank was behind a string of unusual price quotes in the broker markets in mid-2019, prior to the announcement of the losses. 

Currently, Oweida is global head of FX and emerging market sales, having joined Morgan Stanley in 2016. He previously spent almost 10 years at Credit Suisse as head of FX trading for the Americas and emerging market sales. 

Meanwhile, Abruzzo serves as head of listed derivatives for North America and global head of over-the-counter derivatives clearing – a post he has held for 12 years. Prior to joining Morgan Stanley in 2003, he was an associate at law firm Cravath, Swaine & Moore for a year. 

In their new roles, Oweida and Abruzzo will report to Jakob Horder, global head of macro. 


BNP Paribas has made a number of changes to its equity derivatives team. Emmanuel Dray becomes global head of equity derivatives trading, a post he will hold alongside his current role as UK head of equity derivatives. Dray has worked at the French bank for 23 years, joining in 1996 as a trader within the fixed income derivatives team.  

Renaud Meary is the new global head of institutional sales for equity derivatives and head of equity derivatives for continental Europe. He was previously global head of equity derivatives distribution sales. Prior to that he was head of structured equity for Asia-Pacific. 

Dray and Meary report to Nicolas Marque, global head of equity derivatives. 

BNP Paribas has also named Mike Ross as head of synthetic equity distribution. He joins from Deutsche Bank, where he spent almost 20 years, most recently as head of the institutional equity derivatives and synthetic sales team for Europe, the Middle East and Africa (Emea). Before that, Ross spent five years at HSBC as part of the equity derivatives sales team. 

BNP declined to comment on the final move. 


Bank of America has appointed Snigdha Singh as head of Emea rates trading. Singh has worked at the firm for seven years, most recently as head of Emea flow derivatives and gilts trading since 2018.

Before joining the US bank, Singh spent four years as a director in the rates trading team at HSBC. For six years previously, she was a director in the swaps trading business at Lehman Brothers, according to her LinkedIn profile. 

Based in London, Singh will report to Kavi Gupta and Mike Stanley, co-heads of global rates trading at Bank of America. 


Bill Coen, former secretary general of the Basel Committee on Banking Supervision, has been appointed as chair of the IFRS Advisory Council.

Bill Coen 2019
Bill Coen

Coen was secretary general for five years, having been deputy secretary general from 2007. 

As secretary general, Coen chaired the committee’s policy development group, its corporate governance taskforce, and the coherence and calibration taskforce. In the 1990s, he worked as an analyst within the bank supervision and regulation division of the US Federal Reserve Board. 

Coen’s new role at the IFRS is a 12-month appointment. The trustees will look to appoint a new chair through a public nomination process at the end of his tenure. 


BNY Mellon has hired Aengus Hallinan for the newly created position of head of enterprise-wide risk management.

Hallinan’s role includes oversight of risk appetite and risk assurance, which covers risks associated with specific business activities, such as product development. He reports to Thomas Sexton, chief operating officer for risk and compliance at BNY Mellon.

Hallinan was formerly group head of operational risk management and business continuity at Credit Suisse. In that role, he was responsible for op risk management across the bank’s divisions – including investment banking, wealth management, retail banking and asset management – as well as at the corporate level.

Prior to that, Hallinan was global head of operational risk management for Credit Suisse’s investment bank, covering equities, fixed income and deal-making. Before joining Credit Suisse in 2014, he spent 15 years at UBS, where he was global chief operating officer for equity derivatives and proprietary trading.


Bo Boisen has become chief risk officer at Nordea Denmark, where he has worked since 2016, joining as head of strategic projects. He was at HSBC for three years, most recently as programme director of FRTB (Fundamental Review of the Trading Book). Nordea declined to comment.  


The US Securities and Exchange Commission has appointed Nancy Sumption as senior adviser for cyber security policy. Sumption has spent more than two decades working in the US intelligence community, at the Department of Justice, and as an officer and staff judge advocate in the US Air Force.

After leaving government service, she held positions in cyber security, information governance and privacy in the healthcare and finance sectors, and at Mitre Corporation. At the SEC, Sumption reports to Jay Clayton, chairman of cyber security policy.  

Editing by Vickie Johnstone

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