People moves: Barclays’ equity hires, Credit Agricole’s head of CVA departs, and more
Latest job changes across the industry
Barclays has announced two senior hires to its global equities desk in New York.
Scott McDavid will be joining in September as global head of equities. In addition to leading the global equities team he will be maintaining oversight of the bank’s equities distribution and prime services, and will report to Adeel Khan, co-head of global markets. McDavid joins from Morgan Stanley, where he worked for more than 18 years, most recently as co-head of equities trading for the Americas. He previously spent eight years at Susquehanna Investment Group in equities derivatives trading.
Ronnie Wexler has been appointed global head of equities distribution and will report to Stephen Dainton, global head of markets. He is joining from NYDIG, where he worked as global head of business development for three years. Wexler also spent 19 years at Goldman Sachs, where he held several senior positions across the securities division.
Barclays has also appointed two new heads of inflation in the US and Europe. Guy Winkworth has joined the London office as head of sterling products and euro inflation, while Igor Cashyn has become head of US dollar inflation in New York.
Laurent Chédin has left Credit Agricole, where he was head of derivatives valuation adjustment (XVA) and scarce resource management, after nearly 16 years to take a role outside the banking industry.
Mickael Crabos has been appointed as his successor, with the title of global head of scarce resources management and XVA trading. Michael Hibbert, head of XVA trading, has been appointed as his deputy.
Also departing Credit Agricole is Eric Duclos, who had been head of US dollar rates trading. He has joined BNP Paribas as head of US and Canadian dollar interest rate swaps. He is based in New York and will report to co-head of macro Americas, Kunal Maini.
NatWest has made two new hires in its US capital markets business.
Scott Roose joined in May as head of US capital markets. He has also joined the board of NatWest Markets Securities, the global capital markets management team and the US management team. Roose joins from Credit Suisse where he headed the global ESG financing and advisory desk, and previously worked as co-head of EMEA debt capital markets. He will report to the bank’s global head of capital markets, Jonathan Peberdy, as well as regionally to Michelle Girard, CEO of NatWest Markets Securities.
Edward Brown has been appointed head of US primary capital markets. Brown, who has been with NatWest since 2007, was previously head of US capital markets. Reporting to James Tayler, head of primary capital markets and financial institutions DCM, Brown will continue to hold management positions in both the e-global primary markets and global syndicate teams.
The London Metal Exchange appointed John Williamson as interim chair at the end of April. He was already on the LME’s board as a non-executive director and had previously been a non-executive director for its parent company, Hong Kong Exchanges and Clearing.
His appointment followed the departure of Gay Huey Evans, who resigned in January just days after the publication of a report critical of the exchange’s handling of the March 2022 nickel crisis. A legal case put forward by Jane Street Global Trading and Elliot Associates over the legality of the LME’s decision to cancel trades during the saga is due to go to trial in London in June. A statement on the exchange’s website says: “The LME continues to vigorously defend itself against the lawsuits brought by Elliott and Jane Street.”
Citi has appointed Leo Arduini as interim head of foreign exchange following Stuart Staley’s departure in April. Arduini will also continue as markets COO, a role he has held since 2022. He previously spent eight years as the bank’s EMEA head of markets.
In an internal memo seen by Risk.net, the bank’s global head of markets said it was conducting a search for a permanent head of FX and that it expected to fill the position in the coming weeks.
Roberto Pecora is to become chief executive and general manager of Euronext Clearing from July 3. His key responsibilities will include management of central counterparties, engagement with regulators and other clearing members, and aiding efforts to expand the clearing service to all Euronext markets, starting with equities in Q4 2023.
Pecora is currently CEO of Société Générale Securities Services in Italy. In his new role he will be based in Rome and will replace Marco Polito, who left in April to serve as an adviser to Saudi clearing bank Muqassa.
Diego Valiante will be joining the macroprudential unit at the European Commission’s directorate-general for financial stability, financial services and the Capital Markets Union on July 1. He will be tasked with developing policies on non-bank financial intermediation aimed at protecting financial stability while allowing for the sector’s continued integration and growth. He will report to Emiliano Tornese, the commission’s head of macroprudential policy.
Since joining the commission in 2016, Valiente has worked on projects relating to the Capital Markets Union, including the creation of a European framework for crowdfunding services and the 2018 sustainable finance action plan.
Dalia Blass has left BlackRock after two years as head of the global external affairs team to take up a position with global law firm Sullivan & Cromwell. Before joining the asset manager, she headed the US Securities and Exchange Commission’s investment management division.
BlackRock vice-chairman Mark McCombe will take over Blass’s role on an interim basis while the firm searches for a replacement. His previous roles at the asset manager include chief global client officer, head of alternatives and head of Asia-Pacific.
The Managed Funds Association, an industry body representing hedge funds and other alternative asset managers, has appointed Jeffrey Himstreet as vice-president and senior counsel for regulatory affairs. He previously worked at PGIM, and was a partner at Bingham McCutchen and an attorney at the US Securities and Exchange Commission’s investment management division.
The association has also appointed Rachel Grand as vice-president and senior counsel in its New York office. Grand previously worked as lead attorney at investment technology firm DE Shaw & Co, as general counsel and chief compliance officer at Matarin Capital Management, and as chief compliance officer at Chalkstream Capital Group.
James Hillman is to join Aviva as the insurer’s new chief risk officer, subject to regulatory approval from the UK’s Financial Conduct Authority and Prudential Regulatory Authority. He is currently chief financial officer of Scottish Widows and finance director of Lloyds Banking Group’s insurance, pensions and investment division. Hillman’s previous roles include chief actuary at Scottish Widows’ life and general insurance business. He was also a partner at Ernst & Young’s European insurance risk and actuarial practice.
His appointment follows the departure in May of the previous group chief risk officer, Andrea Montague, who took up the role of executive director and chief financial officer at investment manager Brooks Macdonald.
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