People: Nomura’s rates rebuild continues, DB USA’s new CEO, and more

Latest job changes across the industry

Filippo Zorzoli

Nomura has appointed Filippo Zorzoli as head of global markets sales for Europe, the Middle East and Africa, adding to a slate of recent moves in its rates business. Zorzoli was previously global head of rates and solutions sales at Barclays and earlier held senior sales and structuring roles at BofA Merrill Lynch. Based in London, he reports to Nat Tyce, Emea head of global markets and global co-head of rates, and to Samir Patel, head of global markets sales. Zorzoli began his career in fixed-income structuring at Goldman Sachs, later co-heading equity exotics trading.

The bank has also named Gary Hyman vice-chair, Emea global markets, based in Dubai, moving from his role as head of public side sales for Emea.

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Deutsche Bank has appointed Lisa McGeough to head the Americas region as chief executive officer of DB USA, subject to regulatory approval. Paul Maley continues to fill these roles on an interim basis until McGeough joins in early 2026. McGeough was most recently president, CEO and head of banking for HSBC US and previously co-headed global banking coverage at HSBC. She previously held senior roles at Wells Fargo in New York and London. Reporting to management board member Fabrizio Campelli, she also joins the group management committee.

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Denis Gardrat

JP Morgan’s global head of credit structuring, Denis Gardrat, has left to lead the UK arm of infrastructure debt specialist Rivage Investment. Gardrat will focus on origination, distribution and execution. At JP Morgan, Mohit Bhargava succeeds Gardrat as head of credit structuring, reporting to Anthony Fraind and Rui Fernandes. Bhargava previously co-headed credit exotics trading. Gardrat joined JP Morgan in 2018 after more than 15 years at BNP Paribas.

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Bank of America has named Dean Athanasia and Jim DeMare co-presidents, while Alastair Borthwick takes on an expanded remit as executive vice-president and chief finance officer. Athanasia will oversee the consumer and commercial banking franchises. DeMare continues to run global markets. CEO Brian Moynihan has committed to remaining through the rest of the decade.

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Vikram Dadlani

Mizuho has appointed Vikram Dadlani head of credit trading in Emea, reporting to Asif Godall, Emea head of global markets. Dadlani joins after 15 years at Deutsche Bank, where he most recently led investment-grade credit trading across corporates, financials, algo, ETF and portfolio trading. He began his career in private wealth management. Dadlani took up his new role on September 1.

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Ian Hale has joined RBC Capital Markets as head of European inflation trading, as reported in September by Risk.net. Hale left UBS in December, where he was head of sterling rates trading. Prior roles include head of inflation trading at Citi and deputy head of inflation trading at RBS. He reports to Ed Russell, RBC’s head of flow rates trading for Europe.

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Ben Snider

Goldman Sachs has appointed Ben Snider as chief US equity strategist, succeeding David Kostin, who retires at the end of the year into an advisory role. Snider, who has been at the firm since 2010, will lead the US portfolio strategy team. Separately, Fadi Abuali, co-chief executive for Middle East and North Africa, and co-head of Goldman Sachs Asset Management International, will retire after 28 years.

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Jessica Donohue

Northern Trust has named Jessica Donohue global head of product management for asset servicing, reporting to Teresa Parker, president of asset servicing. Donohue previously held senior leadership roles at State Street, including global head for the asset owner segment and head of global investment insights, sustainability and impact.

The firm has also named Anwiti Bahuguna global co-chief investment officer, joining Christian Roth in the role. She succeeds Michael Hunstad, who was recently appointed president of Northern Trust Asset Management. As of June 2025, NTAM reported $1.3 trillion assets under management.

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Will Nicoll

Royal London Asset Management has appointed Will Nicoll as chief investment officer, succeeding Piers Hillier, who departs after a decade and will become CIO at Jupiter in February. Since joining RLAM in 2023, Nicoll has built up its private assets capability and restructured the fixed-income team.

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BlackRock has expanded its global executive committee, adding 20 senior leaders, including Sarah Melvin (UK/Europe leadership) and Mike Pyle (portfolio management), as part of a broader talent shuffle. The move elevates regional and investment leaders to the firm’s top decision-making body.

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SMBC has appointed Stephen Creese head of non-financial risk management for Emea, overseeing operational risk, resilience, third-party risk, and IT and cyber in the second line. Creese joins from ING, where he led teams across 27 countries, and brings experience spanning front-office markets, second-line risk and internal audit.

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Citi has hired Shobhit Varshney as head of artificial intelligence, reporting to chief operating officer Anand Selvakesari, to scale the bank’s enterprise AI capabilities across businesses and functions. Varshney joins from IBM Consulting, where he led data and AI globally.

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Cboe Global Markets has appointed Prashant Bhatia executive vice-president and head of enterprise strategy and corporate development. Bhatia will work with Cboe’s executive leadership on group strategy and M&A to identify high-impact growth opportunities across the exchange network.

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Intercontinental Exchange has appointed Jonathan Hill to its board, with a further seat at Ice Futures Europe to follow, subject to approval. He remains a director at Ice Endex Markets.

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Christian Sjöberg has been named president of Nasdaq Clearing AB, subject to Swedish FSA approval. Sjöberg adds the role to an expanded remit leading post-trade strategy in Europe after holding senior post-trade architecture and business development roles within Nasdaq.

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José Manuel Campa

The European Banking Authority says chair José Manuel Campa will step down at the end of January 2026 for family reasons and has begun recruiting a successor. Campa has led the authority since March 2019, and his chairmanship was renewed for a second term in February 2024.

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The European Central Bank has appointed Isabel Vansteenkiste principal counsellor to president Christine Lagarde, and co-ordinator of the counsel to the executive board. She succeeds Roland Straub.

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Stephen Miran was sworn in as a member of the Federal Reserve Board of Governors, following Senate confirmation on September 15. Miran’s term runs until January 31, 2026.

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The Office of the Comptroller of the Currency has elevated and renamed its chartering and licensing function, appointing Stephen Lybarger as senior deputy comptroller, overseeing licensing for national banks, federal savings associations and payment stablecoin issuers. He will sit on the executive committee and reports to the comptroller. Separately, Will Giles has been named principal deputy chief counsel, serving as the law department’s COO and advising on supervision, enforcement, litigation and licensing.

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The Securities and Exchange Commission has named Judge Margaret ‘Meg’ Ryan director of the Division of Enforcement. Sam Waldon returns to his prior role as the division’s chief counsel. Ryan previously served as a senior judge on the US Court of Appeals for the Armed Forces.

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Acting chairman of the Commodity Futures Trading Commission Caroline Pham has named Scott Lucas, managing director and head of markets digital assets at JP Morgan, as co-chair of the Global Markets Advisory Committee’s digital asset markets subcommittee, serving alongside Sandy Kaul of Franklin Templeton. New members were also appointed across GMAC subcommittees.

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The US Treasury has announced a brace of senior appointments. Hunter McMaster is performing the duties of assistant secretary for financial markets, having formerly been at Key Square Group as head of trading. John Crews becomes deputy assistant secretary for financial institutions policy. He was previously policy adviser to US house majority leader Steve Scalise.

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At the International Monetary Fund, MD Kristalina Georgieva has proposed Dan Katz, chief of staff to US Treasury Secretary Scott Bessent and the administration’s lead on China strategy, for the fund’s number two role, first deputy MD.

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UK chancellor Rachel Reeves has appointed Stephen Blyth and reappointed Randall Kroszner as external members of the Financial Policy Committee.

Editing by Louise Marshall