Abraaj Group names North America head
The investor in global growth markets has appointed a global head of investor engagement and CEO of its North America business. Mark Bourgeois joins Abraaj Group as a partner from Atlantic-Pacific Capital, where he was most recently president and chief executive. Prior to that he headed global distribution and the Americas business at Credit Suisse Asset Management. He has also held senior roles at Lehman Brothers and UBS Private Funds Group. In his new role Bourgeois will be in charge of Abraaj’s global fundraising and client facing strategies, he will also oversee its interactions with North American stakeholders. He will join Abraaj’s management executive committee and will be an observer on the global investment committee.
APG shuffles senior roles
Chief client officer at APG Asset Management Ronald Wuijster has been handed an additional role as chief investment officer. He takes over from Paul Spijkers, who has for the past 11 year held the role alongside his duties as president of APG US. He will now focus on the US role, managing the 130-strong APG AM branch in New York. Both continue to report to CEO Eduard van Gelderen. The changes are effective as of December 1. APG Asset Management oversees €444 billion on behalf of Dutch pension schemes.
Aviva Investors appoints senior industrials analyst
Aviva Investors has named Max Burns as a senior research analyst covering industrials. He joins the firm’s London office from Sarasin & Partners, where he was a global thematic analyst covering global industrials, autos and energy. He has previously worked at AllianceBernstein and Smith Barney. In his new role he will report to Reto Bachmann, head of corporate research for the London office.
Chi-X Asia Pacific CEO steps down
Tony Mackay has stepped down as chief executive of Chi-X Asia Pacific – which operates alternative trading venues in Australia and Japan – for personal reasons, less than a year after taking on the role. Mackay was the founding CEO of Chi-X Europe and had been chairman emeritus of Chi-X Global (the former name for Chi-X Asia Pacific) before stepping down in October 2011. Mackay had re-joined the alternative equities exchange operator as CEO in February, after buyout firm JC Flowers closed its deal for the company. Chief financial officer Joe Meyer will take over as operating chief in addition to his existing role. Thierry Porté, managing director at JC Flowers, said: “Tony has been instrumental in helping to create an independent Chi-X, and we are grateful for his many initiatives.”
City Financial names new operations chief
Independent investment manager City Financial has appointed a new global chief operating officer. Lou Thorne takes on the role, based in New York. He will report to chief executive Andrew Williams and joins City Financial’s executive management committee. He takes over the role from David Levitan, who will step down on March 1, 2017 to pursue interests outside the industry, according to a statement from the firm. Thorne was previously global chief operating officer of Fortress Investment Group’s Liquid Markets Hedge Fund business. He has also worked at MissionPoint Investment Partners and Tudor Investment Corporation. City Financial manages $ 4 billion in assets.
Comgest adds investor relations execs to Boston office
Comgest, a $ 23 billion independent asset manager, has made two senior investor relations appointments to its Boston office, which has been newly registered with US regulator the Securities and Exchange Commission. James DuPont and Kevin Robertson take on the roles, joining Peter Shapiro, who moved from the firm’s Paris office to launch its Boston-based research offering in 2015. The Boston office will be a hub for Comgest’s US investor relations activities and the firm said its SEC registration means it can offer portfolio management services to US clients in addition to its private fund offerings.
Goldman Sachs partners: The class of 2016
Goldman Sachs has named 84 staff to the rank of partner across the globe, including the highest percentage of women ever promoted. The biennial round of promotions to one of the most coveted positions on Wall Street was announced on November 9. In 2014, the bank named 78 new partners, the second-smallest total since its 1999 IPO. Nineteen of this year’s class are women, marking the highest ever percentage (23%) of female MDs to be named partner in a promotion round. It means women now account for 16% of Goldman Sachs’s total partner pool – another new high. A quarter of this year’s total class are based in Europe, the Middle East and Africa, with another 14% based in Asia. For the full list click here
Generali Investments hires for sales force
Generali Investments, the main asset management arm of Generali Group, has added to its Italian sales team with the hire of Gabriele Alberici, the firm said in a statement. He joins in a senior sales role from UBS Wealth Management, where he worked for 13 years, most recently as head of the product specialists team in charge of managing Italian ultra-high net worth client portfolios. At Generali Investments, Alberici will have responsibility for developing its wholesale business and expanding its range of white label products and tailor-made solutions.
Legal & General creates new insurance unit
Legal & General has combined its US and UK insurance businesses and appointed Bernie Hickman to run the new Legal & General Insurance division. Hickman has held numerous positions at L&G, including group financial controller, investor relations director and MD of individual retirement. The firm will aim to grow the US business into a multi-channel and multi-product business. Hickman said in a statement announcing his new role: “Technology is playing an ever-increasing role in all areas of the UK and US insurance markets, with digital marketing and straight-through processing becoming ever more important. It’s therefore a great opportunity and an exciting time to combine our UK and US expertise, technology and insights, to grow our existing businesses and establish new, digital insurance businesses in selected international markets.”
Level 20 appoints 3i partner as chair
Level 20, a campaign group established to increase the number of women working in private equity, has appointed a new chair as it ramps up its efforts to raise money for mentoring programmes. Jennifer Dunstan, 3i Group’s head of investor relations partner, has been named the new chair after founder Hanneke Smits stepped down from the role, according to a statement. Dunstan will work closely with Jeryl Andrew, a former partner at Advent Venture Partners, who became Level 20’s first chief executive officer in October. Smits, who will remain an active member of the organisation, held the post of chair since Level 20 was set up in September 2015. Smits, who previously spent 17 years at private equity firm Adams Street Partners, was appointed as chief executive of Newton Investment Management, a London-based investment subsidiary of BNY Mellon, in August 2016.
Lombard Odier fundamental fixed income head departs
The head of fundamental fixed income at Lombard Odier Investment Management has left, following a restructure earlier this year that saw the appointment of a new investment chief for the overall division. Lombard Odier confirmed in a statement on November 4 that Kevin Corrigan, who joined from Goldman Sachs Asset Management in 2010, originally as head of credit, has left. It follows an April restructure of the division, which saw its fundamental fixed income, Swiss fixed income and Asia fixed income teams brought together under the watch of Lombard Odier veteran Yannik Zufferey. At the same time he was named chief investment officer of the firm’s Sfr16 billion fixed income business. Lombard Odier said Corrigan had opted to leave with immediate effect following a period of transition with Zufferey, who joined the firm in 2004. During his time at the firm Corrigan had worked alongside Zufferey. Together they created and launched Lombard Odier’s range of fundamental strategies.
Nomura hands out new markets roles
Nomura has given new client relationship roles to two senior members of its global trading business in New York and London. The Japanese firm has named Henson Orser as global head of senior relationship management for its global markets business, according to a person close to the bank. Orser will be responsible for managing client relationships and be based in New York. Previously head of global market sales for the Americas and co-head of global markets for the Americas, Orser will give up those roles to take on his new post. Additionally, Craig Butterworth has been appointed global head of client ecosystem for the global markets unit, the person said. Butterworth was previously managing director and head of client account management and global markets sales chief administrative officer for Europe, Middle East and Africa. He will be based in London, reporting to Orser and locally to James Lancaster.
Principles for Responsible Investment names first operations chief
The consultant who led the independent review into the Principles for Responsible Investment’s governance after several Danish pension funds decided to quit the organisation, has been named as the UN-backed body’s first operations chief. The PRI, which was set up in 2006 by the United Nations to encourage fund managers to invest sustainably, confirmed in a statement on November 7 that Peter de Graaf will become its chief operating officer on December 1. Fiona Reynolds, managing director of the PRI, said it needed someone who could co-ordinate and take charge of projects across the organisation. De Graaf will also be in charge of the PRI’s strategic and annual business plan. De Graaf joins from London-based management consultancy Carnstone Partners, which was called in by the PRI in 2014 to lead its internal governance review after six Danish institutions decided to leave, blaming poor corporate governance and a lack of member democracy. Among them was ATP, one of Europe’s largest pensions schemes. Following the review, the PRI, which has around 1,500 signatories representing about $ 60 trillion in assets, decided to introduce a governing board made up of 13 members from across the buyside, which would be voted in by its members.
SocGen names first head of loan syndicate
Societe General corporate and investment banking has appointed Jose-Antonio Olano to the newly created role of head of loan syndicate, effective January 1, 2017. He will be based in London and report to Terry Shanahan, global head of syndication. Olano will be tasked with developing the bank’s loan syndication activities across the Emea region, the Americas and Asia Pacific. Heads of the business in each region will report into him. Olano was previously head of loan syndicate and sales for Spain and Portugal and then held the same role for the Asia Pacific region. He joined Societe Generale in 2000 having worked at Deutsche Bank.
State Street promotes iShares veteran in London
The fund management arm of State Street has made a senior appointment to its exchange-traded funds business in London. State Street Global Advisors said in a statement on November 7 that Malcolm Smith has been appointed to the newly created role of chief operating officer of SPDR, its ETF business. Smith has been with been with the group for little more than a year, working in a senior distribution role. He will be based in London and be tasked with leading, managing and developing the operating infrastructure for SPDR globally. Earlier in his career, Smith was European COO of Barclays Global Investors, where he helped establish and manage the regional iShares ETF business. According to his LinkedIn profile, he led the launch of the first iShares ETF products into Europe.
Standard Life appoints former UK Chancellor to charity board
Standard Life Foundation, which focuses on independent research to strengthen financial wellbeing and resilience in the UK, has announced its board of trustees. The charity is funded by unclaimed cash entitlements and proceeds from the sale of unclaimed shares as a result of the firm’s demutualisation in July 2006, the firm said in a statement. Howard Davies has been named chief executive of the foundation, having previously led the firm’s public affairs team. Six independent trustees have been named: former UK Chancellor Alistair Darling; Waterstones CEO James Daunt; Naomi Eisenstadt, senior research fellow at Oxford University, and independent adviser to the Scottish government on poverty and inequality; David Hall, professor, education policy & practice and head of the Institute of Education, University of Manchester; Lucy Heller, CEO of educational charity Ark and Elaine Kempson, emeritus professor, University of Bristol. The Standard Life executives being made trustees are the firm’s chief executive Keith Skeoch and its chairman Sir Gerry Grimstone, alongside Colin Clark, director, global client group, and Graeme McEwan, chief communications officer. Darling is expected to become chair of the foundation at the start of next year, Standard Life added.
Treasury appoints FN100 Woman as diversity champion
The Chancellor of the Exchequer has appointed the CEO of Virgin Money, and one of FN’s most influential women in financial services, as the UK’s first Women in Finance Champion. The position was created for Jayne-Anne Gadhia to formalise her work promoting the Treasury’s Women in Finance Charter and the benefits of a diverse workforce across the UK financial services sector, a Treasury spokeswoman told FN. Gadhia was earlier this month named among FN’s annual pick of the 100 most influential women in financial services in Europe, the Middle East and Africa. She previously led a nine-month review into diversity in the financial sector which culminated in the Treasury’s March 2016 report into gender equality in the City. The Treasury launched its Women in Finance Charter initiative in conjunction with the report’s publication. The Charter, which commits firms to implementing Gadhia’s recommendations, now has 93 signatories, up from 72 in October, according to the latest Treasury data released on November 8.
WFE appoints first woman chair
Indian stock exchange heavyweight Chitra Ramkrishna has become the first female chair of the World Federation of Exchanges as part of the organisation’s biennial rotation of officers. Ramkrishna, who is managing director and CEO of the National Stock Exchange of India, will be the 28th chair of the WFE. She takes over in the role from Colombian Securities Exchange CEO Juan Pablo Cordoba, according to a November 3 statement. Urs Rüegsegger, who has been the CEO of Zurich-based Six Group since the start of 2008, becomes the WFE’s vice-chairman, filling a post vacated by Ramkrishna. Rüegsegger was previously chairman of the WFE’s working committee. That post will be filled by William Brodsky, chairman of Chicago-based options giant CBOE Holdings.