People: Rustad to head SwapClear, Kimmel exits Citadel Securities, and more

Latest job changes across the industry

Nick Rustad

Photo: JP Morgan

UK clearing giant LCH has named Nick Rustad as group head of SwapClear and listed rates, succeeding Susi de Verdelon who became chief executive officer of LCH in February, following the departure of Isabelle Girolami. Rustad joins after a brief spell at start-up hedge fund Taula Capital Management, which he joined at the beginning of last year as deputy chief operating officer. Before that he spent over 20 years at JP Morgan, where latterly he led the global futures and derivatives business. Rustad was also a non-executive director at LCH from 2021–2022. He reports to de Verdelon, and will also join the company’s leadership team.

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Robin Vince 

BNY’s chief executive officer Robin Vince has been elected chairman of the board of directors, effective September 1. He will retain his current position, which he has held since August 2022. He replaces Joe Echevarria, who will remain on the board in the role of lead independent director, a position he previously held from 2016–2019.

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NatWest has named Solange Chamberlain as chief executive officer of the retail bank, subject to regulatory approval. Chamberlain joined NatWest Group in 2019 and has been group director of strategic development since April 2024. She will report to group chief executive officer Paul Thwaite, and will start the role on July 1.

Maja Pantic also joins NatWest as chief AI research officer. Pantic previously spent five years as AI scientific research director at Facebook’s parent company Meta, based in London. She is also a professor of affective and behavioural computing at Imperial College London, a role she will continue to hold. At NatWest, Pantic will focus on AI use cases for customers, research and innovation and simplifying work for bank employees. Based in London, she reports to chief data analytics officer Zachary Anderson.

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Kevin Kimmel

Kevin Kimmel, global head of electronic foreign exchange at Citadel Securities, has left the firm, Risk.net has learnt. Kimmel spent 11 years at Citadel Securities. A successor is yet to be announced.

Prior to running electronic FX, Kimmel led the firm’s equities client algo business. He joined Citadel Securities in 2014 from JP Morgan, where he worked on cross-asset strategy, with a focus on building the bank’s electronic trading capabilities. 

Kimmel’s departure came just two weeks after the resignation of Bryan Seegers, a director of business development in the electronic FX trading unit at Citadel Securities. Seegers wrote in a LinkedIn post that he planned to take some time away from the markets.

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Bank of Montreal has hired Aron Levine as group head and president of BMO US, the Canadian lender’s US subsidiary. Levine left Bank of America in April after more than 30 years, during which time he held senior roles in wealth management, consumer banking and commercial real estate finance. In his new role, Levine will lead BMO US’s personal and business banking, commercial banking and wealth management businesses. He reports to the chief executive officers of BMO and BMO US, Darryl White and Darrel Hackett.

BMO has also overhauled its commercial banking leadership. Nadim Hirji will become vice-chair of the business, while Sharon Haward-Laird will head Canadian commercial banking and co-lead Canadian personal and commercial banking alongside Mat Mehrotra.

Paul Noble becomes general counsel and group head of legal and regulatory compliance, also reporting to White. All appointments are effective July 7.

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Ben Gough has joined Cboe as global head of FX liquidity management, based in London. He previously worked for Fenics FX in sales and liquidity management, and prior to that spent 14 years at UBS in electronic trading. He succeeds Emily Eimer, who has left the finance industry.

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The Depository Trust & Clearing Corporation has named Laura Deaner as its new chief information security officer, where she will manage the firm’s enterprise-wide cyber strategy. Deaner joins from insurance company Northwestern Mutual, where she spent four years as CISO. Based in Jersey City, she will report to chief information officer Lynn Bishop.

She replaces Yonesy Núñez, who has taken up the role of chief cybersecurity risk officer, reporting to chief risk officer Tim Cuddihy. Núñez will cover cyber security policies, standards and risk appetite.

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Randal Quarles

The Financial Stability Board has tapped former FSB chair Randal Quarles to lead a G20 group conducting a review of how the body monitors the implementation of its reform agenda. The group was established at the request of the South African G20 presidency. It expects to present an interim report in October with a final report in 2026 containing any recommendations. The FSB was formed in the aftermath of the global financial crisis to identify weaknesses in the financial system and recommend actions to address them.

Quarles was vice-chair for supervision at the Federal Reserve for three years, ending 2021. He is currently chairman of alternative asset and wealth advisory firm, Cynosure Group.

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Paul Hayeck has been named acting director of the division of enforcement at the Commodity Futures Trading Commission, a step up from his current role as deputy director, which he has held since 2013. Hayeck will report to acting CFTC chairman Caroline Pham, until her planned departure to make way for Brian Quintenz, subject to senate approval.

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The Securities and Exchange Commission will bring in five new appointments over the summer as the transition under new chair Paul Atkins continues. Brian Daly will become director of investment management on July 8, taking over from Natasha Vij Greiner. Daly is a partner in the investment management practice at law firm Akin Gump. The outgoing Greiner will end 23 years at the SEC.

Natalia Díez Riggin

The regulator has also named Jamie Selway as head of trading and markets. Selway moves from consultancy Sophron Advisors, where he covered capital markets. Some commentators see the appointments of Daly and Selway as signalling a crypto-friendly approach consistent with the chair Paul Atkins, who has been co-chair of a cryptocurrency advocacy group since 2017. Selway has advised LiquidFi, which creates loan-backed digital assets, since 2021, while one of Daly’s areas of focus at Akin was digital assets, crypto currencies and blockchain.

Natalia Díez Riggin has been confirmed as director of legislative and intergovernmental affairs, after serving as acting director since January. Also, Erik Hotmire and Kurt Hohl become director of public affairs and chief accountant, respectively.

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Sarah Pritchard

The Financial Conduct Authority has named Sarah Pritchard as deputy chief executive. The newly created role reflects the extra workload for the UK financial services regulator, with stablecoin and crypto oversight and the integration of the Payment Systems Regulator. Pritchard will work alongside chief executive Nikhil Rathi. 

Pritchard joined the FCA in June 2021 to jointly lead the supervision, policy and competition division. She went on to lead the markets function, and most recently was responsible for consumers and competition. A qualified lawyer, Pritchard previously worked at HSBC, leading global financial crime compliance and reputational risk teams, as well as in government and public sector roles.

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UK-based financial technology firm Validus Risk Management has appointed Shawn Koh as head of Asia client coverage. Koh was most recently head of global market sales for Asia at First Abu Dhabi Bank. He will be based in Singapore and will report to chief commercial officer Haakon Blakstad. Validus has also hired Daniel Johnson to be chief technology officer from Hargreaves Lansdown where he was chief digital platform officer. Johnson will be based in London and will report to chief executive officer Kevin Lester.

Additional reporting by Joe Parsons; editing by Alex Krohn