FN presents a round-up of the top hires and job switches in the financial services industry that you may have missed over the past week
Financial News presents a round-up of the top hires and job switches in the financial services industry that you may have missed over the past week
Amundi names new head of $9bn smart beta division Amundi has created a dedicated role running its $9 billion smart beta division. The asset manager, which manages about €1 trillion, confirmed that it had hired Bruno Taillardat to oversee the growth of its smart beta strategies. He will be based in Paris and report to Laurent Trottier, global head of exchange-traded funds, indexing and smart beta management. Taillardat had been Unigestion's investment director in charge of quantitative and fundamental research, before leaving the $19.7 billion Swiss asset manager in August after nine years. He originally joined as a senior portfolio manager in the firm's equity team.
Barclays picks new investment banking head Barclays has hired JP Morgan Chase executive Tim Throsby, who will join the l bank in January to run its corporate and international division. Throsby, who is currently global head of equities at JP Morgan, will be president of the unit which houses Barclays' investment bank, international wealth and US credit card businesses. He will also be chief executive of the corporate and investment bank. JP Morgan has promoted Mark Leung, head of its Asia Pacific equities business, and Jason Sippel, global head of prime services, to replace Throsby.
Berenberg Asset Management hires two Edmond de Rothschild fund managers Berenberg Asset Management has recruited two portfolio managers from Edmond de Rothschild Asset Management, according to a statement by the German investment house. Mathieu Gilbert and Franck Sabbah joined Berenberg on September 1. The two managers, based in Geneva, will run a currency management portfolio. The statement said that the newly hired fund managers would work closely with Berenberg's alternative asset management teams in Hamburg and Chicago.
Cheyne hires former Brevan Howard partner A two-time FN Rising Star and former Brevan Howard partner, who went on to run his own hedge fund from 2011 until last year, has emerged as the latest new face at Cheyne Capital. Frederic Denjoy joined London-based Cheyne on September 1 as a partner and portfolio manager. He works in the equities group, according to a person familiar with the hire. Equities is a core strategy for the $7 billion alternatives asset manager, which also manages corporate credit, real estate debt, social property impact, event-driven and convertible bond strategies. Denjoy traded equities at Brevan Howard, where he worked for nearly six years and was named a partner in August 2007. He left in late 2010, setting up his own European long/short equities hedge fund the following year, with seed backing from powerful fund investor Blackstone.
Credit Suisse's Chin takes centre-stage with markets role As the head of Credit Suisse's securitised products business for the past four years, Brian Chin has kept a low profile. But an internal merger and a senior departure in the space of six months this year have thrust the Swiss bank's new chief executive of global markets into the spotlight. Chin, named head of global markets - Credit Suisse's sales and trading business - on September 6, replaces Tim O'Hara, who is to leave the bank. O'Hara had held the role since the global markets unit was created in October 2015 by group chief executive Tidjane Thiam. In replacing O'Hara, Chin takes a pivotal seat in the group's investment bank opposite Jim Amine, who has led the investment banking and capital markets department since the October restructuring. Before that move, Amine and O'Hara had jointly run the investment bank alongside Gaël de Boissard, who left Credit Suisse at the end of 2015.
Scroll for more of this story
Duff & Phelps hires Silicon Valley M&A expert Pagemill Partners, the technology investment banking division of the consultancy firm Duff & Phelps, has hired its first managing director outside of the US to bolster its London operation. Rory O'Sullivan joins Pagemill from the boutique investment bank Bulger Partners, where he has been a managing director since 2011. Before Bulger Partners, O'Sullivan was a managing director at Canaccord Genuity, where he led on European technology M&A.
Eurex's former innovation head joins board of blockchain startup A former chief innovation officer at Deutsche Börse-owned derivatives exchange Eurex has joined the advisory board of a London-based blockchain startup. Brendan Bradley has been named as an advisory board member at Rise Financial Technologies, the young technology company founded by the former lead for blockchain technology at State Street in Europe. The appointment is the first move by Bradley since he stepped down from his position at Eurex in May. Bradley took on the role in August and will be advising the company on exchange and clearing issues, according to Rise's chief executive Thorsten Peisl.
Falcon Private Bank names new chief executive Falcon Private Bank has appointed a veteran of the wealth management industry as its new chief executive. Walter Berchtold, former head of private banking at Credit Suisse, takes the helm at Falcon, where he has been a board member since March 2015. He will replace Eduardo Leemann on October 1. Leemann will stay on as a senior adviser to the bank. According to his LinkedIn profile, Berchtold started at Credit Suisse in 1982, holding a number of senior positions including Switzerland country manager and CEO of private banking, before stepping down from the executive board of the banking giant in 2012.
Hermes appoints infrastructure partner from CPPIB Hermes Investment Management has appointed an infrastructure partner from one of the world's largest pension funds, according to a statement from the fund manager. Robert Wall joins Hermes from the Canadian Pension Plan Investment Board, where he was involved in executing direct infrastructure investments. Wall will report to Peter Hofbauer, the head of infrastructure at Hermes. The statement said that alongside making decisions on investment, Wall's role would involve sitting on the board of infrastructure companies that Hermes invests in.
HSBC Securities Services names European head of sales HSBC Securities Services, the investor services division of HSBC, has promoted an executive to become head of sales for Europe, according to a statement by the bank. Dublin-based Tony McDonnell will lead sales and business development at the HSBC unit, having previously been in charge of sales to asset managers in Europe and North America. The statement by HSBC said that McDonnell would continue in his current job as managing director of securities services in Ireland alongside his new role. HSBC services $140 billion in assets through its Irish subsidiary.
LPEQ appoints private equity veteran Mark Florman as chairman LPEQ, a trade body that seeks to raise understanding and awareness of listed private equity firms across Europe, has appointed industry veteran Mark Florman as its new non-executive chairman. Florman said that his main motivation for taking up the position was that he "really believes in the sector and that it needs more attention". Florman said it was important to raise the profile of listed private equity as it gave smaller investors access to an asset class that generated strong returns but was dominated by massive institutional investors with billions of pounds to invest. His appointment comes after a high-profile career spanning some 30 years in the banking and private equity sectors.
Man Group shuffles top ranks Hedge fund firm Man Group has announced a management reshuffle, naming new finance and investment heads. The world's largest listed hedge fund firm by assets said on September 2 that Jonathan Sorrell is stepping down as chief financial officer, while his role as president of Man Group is expanding to include several new strategic and commercial areas including sales, corporate strategy, and mergers and acquisitions. Mark Jones, a co-CEO of the company's GLG unit, will replace Sorrell as CFO subject to regulatory approval. Man Group also appointed Sandy Rattray as its chief investment officer. He will remain as head of Man AHL, a computer-driven fund.
Morgan Stanley's van Steenis in Schroders switch One of Europe's top bank analysts is leaving his research post at Morgan Stanley after 14 years, to take up a role at Schroders. Huw van Steenis, who led the bank research team in Europe for Morgan Stanley, joins Schroders as global head of strategy, starting in the final quarter of 2016, according to a statement from the £343.8 billion asset manager on September 1. The firm said van Steenis would focus on "medium and longer-term strategy development" in the new role, which will see him report directly to Peter Harrison, Schroders group chief executive.
Morningstar founder Joe Mansueto to step down The man who launched Morningstar from his Chicago apartment in 1984 is stepping down as chief executive. Joe Mansueto will become executive chairman of the mutual fund data company in January. His successor will be the firm's president, Kunal Kapoor, who joined Morningstar in 1997 as a data analyst. Mansueto founded the company at the beginning of a mutual fund boom in the 1980s, and investors increasingly rely on Morningstar's ratings when making decisions about their money. The firm has since been valued at $3.6 billion.
M&G Investments recruits risk manager from Henderson The asset manager M&G Investments has hired a senior risk manager from rivals Henderson Global Investors, according to a statement by the UK funds house. Nas Islam becomes head of investment risk at M&G, having been head of investment oversight at Henderson. Before Henderson, Islam worked for Morley Fund Management, now Aviva Investors. The statement said that Islam would be responsible for oversight at M&G. He will report to Michelle Scrimgeour.
Scipion Capital appoints head of trade finance The Africa-focused trade finance hedge fund Scipion Capital has hired a banker from Sumitomo Mitsui Banking Corporation Europe. Paul Baker, who was assistant general manager at SMBC's structured trade and commodity finance department, becomes head of trade finance, according to a statement by the company. Baker has worked at Citi Bank, UFJ Bank, UBS, ING Bank and Banque Paribas over a 30-year career in banking. He will report to Scipion's chief investment officer Nicolas Clavel.
Taylor Wessing brings in Olswang partner Law firm Taylor Wessing has bolstered its private equity practice with the appointment of a partner from Olswang. According to a statement by Taylor Wessing, Duncan McDonald, who advises companies and private equity firms on acquisitions, management buy-outs and growth capital deals, has joined the firm as a partner. McDonald has worked at Olswang since 2008. A profile on the Olswang website states that McDonald had held positions as an inhouse lawyer at Credit Suisse and Citi over the 1990s and 2000s. His appointment brings the number of private equity lawyers at Taylor Wessing's London office to 20.
RBC executive returns in wealth management role RBC Wealth Management has rehired a former senior executive as a managing director, according to a statement by the Canadian bank. John Younger becomes managing director, sales and relationship management, six years after he left RBC, where he worked for 18 years as an investment banker in Toronto and New York, rising to become head of US debt capital markets. After leaving RBC, Younger held a number of positions in public service and industry, including at the Bank of England, where he was a senior adviser to the Fair and Effective Markets Review. He has also worked as an adviser to the fintech startup Origin Markets.
WisdomTree appoints head of European distribution The ETF provider WisdomTree has moved a senior client relationship manager from its US business to head European distribution, the passive asset manager said in a statement. Morgan Lee, who worked at iShares when it was owned by Barclays before moving to WisdomTree 10 years ago, takes on the London-based role. WisdomTree head of Europe David Abner described Lee as one of the company's "most seasoned salespeople".