• Moves of the week
Deutsche Bank’s global head of investment banking, Jeff Urwin, is taking on expanded management board duties, adding oversight of all operations in the Americas region at the corporate level, the lender said in an internal employee memo on July 1.
Urwin, who is based in New York, already serves on Deutsche Bank’s management board, with responsibility for corporate and investment banking globally. The bank is adding to those duties supervision of all US operations at the corporate level, part of an overhaul of the lender’s senior ranks that started under chief executive John Cryan in 2015.
A Deutsche Bank spokeswoman confirmed the contents of the internal memo, which was signed by Cryan.
The bank also said in the internal memo that Bill Woodley will become chief executive of the Americas business, in addition to overseeing Deutsche Bank USA Corp, the lender’s newly formed US holding company. In his expanded role, Woodley will report to Urwin.
Urwin joined Deutsche Bank in 2015 from JP Morgan Chase. He was appointed to Deutsche Bank’s management board effective January this year, as part of a companywide restructuring under Cryan.
Liquidnet, the buyside-focused platform operator, has made a second senior hire from Tabb Group in roughly two years by recruiting a well-known European capital markets consultant from the research firm at a “pivotal time” for the trading community as it prepares for major change in the form of Mifid II and Brexit.
Liquidnet has named Rebecca Healey as its London-based head of market structure and strategy, a role that will see her report to Mark Pumfrey, head of Liquidnet Europe, and advise Liquidnet’s platform members and the company itself on developments in the European equities and fixed income markets.
Healey was most recently the principal European capital markets consultant and analyst at Tabb Group and in 2015 founded an independent research consultancy called Incisus Partners. She has also worked at Credit Suisse, Goldman Sachs and Bankers Trust during an 18-year career.
Her move from Tabb Group to Liquidnet mirrors the platform operator’s April 2014 hire of Adam Sussman as its head of market structure and liquidity partnerships in New York. Sussman had been a partner and director of research at Tabb.
Mark Holder, who had been global co-head of electronic trading for equities at the Swiss bank, is set to join the Chicago-based hedge fund later in 2016, according to the people.
Holder’s last day with UBS was on July 1, one of the people said. Details of his new role are not known.
Citadel and UBS did not immediately respond to requests for comment on July 5.
He spent six years in the bank’s fundamental investment group, a proprietary equities trading team that was closed at the end of 2007. He was head of cash quantitative trading for first Europe and later Asia as well.
He was appointed a managing director at the age of 30, and was named to his current role in March 2014, with responsibility for the business in the US and Europe, alongside Hong Kong-based Laurent Combalot, who oversees Asia.
Axa Investment Managers
Axa Investment Managers has appointed a JP Morgan Asset Management veteran as head of its UK client group, replacing Tim Gardener, who had been holding the role on a temporary basis.
John Stainsby spent 16 years at JP Morgan Asset Management, most recently heading its institutional business in the UK.
Before that, he was head of JP Morgan’s global equity client portfolio management business. He left the investment arm of the Wall Street lender in May 2015.
His new position was created in 2015, when Axa Investment Managers split the head of UK role into two separate jobs – a move designed to “dedicate additional resources to the UK business, and reflecting the importance of the UK market as a major investment and distribution centre”.
Prior to JP Morgan Asset Management, Stainsby launched the UK office of emerging market fund manager Lloyd George Management, having spent 12 years as an analyst and fund manager at Schroders managing equity portfolios.
And the best of the rest…
Ashurst adds partner from King & Wood Mallesons
Law firm Ashurst has added Robert Andrews, an asset management finance partner at King & Wood Mallesons, to its roster of partners. The appointment follows that of Dave Rome, the Emea head of loan markets at Royal Bank of Scotland, on June 3 as strategic director, corporate lending. According to a biography on the King & Wood Mallesons website, Andrews specialises in funds, leveraged finance and real estate lending, having acted for financial institutions and private equity sponsors. Ashurst appointed David Futter to head fintech in March.
Axa Investment Managers appoints head of pensions for Europe
Axa Investment Managers has appointed Erik Jan van Bergen as head of pensions for Europe, according to a statement from the fund manager. Jan van Bergen joins Axa from the Dutch fund manager Actiam, where he had been chief investment officer and a board member since 2009. Jan van Bergen will report to Mathilde Sauvé, head of institutional solutions at Axa IM.
Bfinance adds debt director
Investment consultancy bfinance has hired a director of debt services to its private markets team, according to a statement by the company. Niels Bodenheim joins from Mubadala GE Capital, a joint venture between GE Capital and the Abu Dhabi sovereign wealth fund, where he was an executive director, based in London. In his previous role, Bodenheim invested in a portfolio of $ 3 billion of commercial loans. He joined GE Capital in 2001.
Deutsche Bank currencies chief to step down
Deutsche Bank’s global currency trading chief, Ahmet Arinc, is leaving the bank, according to an internal memo sent to employees on July 6. Arinc, who joined Deutsche Bank in 1998, has been on leave for several months and will not be returning. The memo was confirmed by a Deutsche Bank spokesman, who declined to comment further. Arinc declined to comment when reached by telephone on July 6. In addition to currencies trading, he also oversaw emerging market debt trading. Foreign exchange trading is now overseen by David Wayne, and Sean Bates oversees emerging market debt trading, according to a person familiar with the matter.
FRP Advisory selects KPMG consultant as partner
Restructuring consultancy FRP Advisory has hired former KPMG accountant Anthony Collier, expanding the firm’s presence in the north-west of England, according to a statement. Collier becomes a partner at FRP Advisory, where the number of staff has quadrupled in three years. The statement added that Collier had “significant experience” in the financial services sector. Collier had worked at KPMG since 2002, according to his LinkedIn profile.
Houlihan Lokey adds two London MDs from HSBC
US investment bank Houlihan Lokey has appointed two bankers from HSBC to senior positions at its UK operation. Zaman Khan and Christian Scharf will become managing directors at Houlihan Lokey, the firm said in a statement. Khan was HSBC’s head of special situations, joining the bank in 2012 from Abaci Investment Management, where he was chief investment officer. Scharf was previously head of debt capital markets for Germany, Austria, Switzerland and the Netherlands at HSBC.
HSBC makes changes to commercial banking top team
HSBC has appointed a new regional head of commercial banking, Asia Pacific, according to a statement by the UK bank, amid a restructuring of its enormous corporate banking operation. Stuart Tait, who was previously global head of trade and receivables finance, becomes regional head of commercial banking, Asia Pacific. In his place, Natalie Blyth becomes global head of trade and receivables finance. The staff moves follow the departure of HSBC’s global commercial banking chief executive Simon Cooper to Standard Chartered in December 2015. Cooper’s post was filled by Noel Quinn, himself a former head of commercial banking in Asia. Tait will report jointly to Quinn and Hong Kong CEO Peter Wong. Blyth will also report to Quinn.
LaingBuisson appoints former Jefferies healthcare head as CEO
The former co-head of European healthcare at Jefferies’ investment bank has joined the corporate world, at the helm of a consultancy focusing on the sector where he plied his trade dealmaking. Henry Elphick, who was among several high-profile UBS bankers hired by Jefferies in 2009, left the US bank on June 22. He has re-emerged as the chief executive of London-based healthcare consultancy LaingBuisson, according to a statement from the company on June 30.
Mirabaud Asset Management names Anglo-Dutch institutional head.
Swiss investment company Mirabaud Asset Management has hired a head of institutional for the UK and the Netherlands from Dutch fund manager NN Investment Partners. Paul Waters, who has been a director of UK institutional for NN Investment Partners since 2011, will manage the Geneva-based fund manager’s relationships with pension funds in the UK and the Netherlands, Mirabaud said in a statement. Waters, who has already joined the company, will work closely with Paul Boughton, who runs the firm’s wholesale team in the UK. Both Waters and Boughton will report to Bertrand Bricheux, the global head of sales and marketing. Bricheux said that Mirabaud’s UK wholesale business represents more than half of the company’s Sfr8.5 billion ($ 8.7 billion) assets under management.
Old Mutual expands into Asia
The UK listed fund manager Old Mutual Global Investors has appointed a head of sales for south-east Asia from Columbia Threadneedle. Gerard Clancy, who was for the past five years an executive director in wholesale distribution at Columbia Threadneedle, joined Old Mutual on July 4. He will report to Carol Wong, Old Mutual’s managing director Asia Pacific, who is based in Hong Kong.
Pimco shops for strategists at Goldman Sachs and Moore Capital
Asset management giant Pimco has hired two senior fund management experts from Goldman Sachs Asset Management and hedge fund Moore Capital Management, respectively. Yacov Arnopolin joins Pimco as an executive vice-president and emerging markets portfolio manager. Arnopolin was previously an emerging markets fixed income manager at GSAM. At Pimco, he will report to Michael Gomez, managing director and head of emerging markets. Gene Frieda, whose last position was as a partner and macro strategist for Moore Capital Management in London, becomes an executive vice-president and global strategist at the California-headquartered asset manager. Frieda will report to Andrew Balls, managing director and CIO for global fixed income.
PwC promotes real estate consultants
PwC has made a round of promotions to its UK real estate leadership, a statement from the auditors said. Craig Hughes, who has led the UK practice since 2012, becomes global real estate leader, while Sandra Dowling moves to head UK real estate. Dowling previously ran PwC’s UK real estate assurance practice, having started her career at PwC in Canada. Dowling worked in the Boston practice of PwC for three years before relocating to the UK. The big four accountancy firm has 500 people in the UK that provide services to the real estate sector.
RBC Capital Markets returns to Nomura for retail head
RBC Capital Markets has returned to Nomura for the hire of a new head of consumer and retail investment banking in Europe – just weeks after it hired the Japanese bank’s chemicals head. Nomura veteran Ed Boyce – one of the UK managing directors to have helped the Japanese bank win a corporate broking role with fashion brand Burberry in 2011 – will join RBC in October, two people familiar with his move have said. As head of consumer and retail in Europe at RBC, Boyce will take on the responsibilities of former FN Rising Star David Plowman, who has left the bank, one of the people said. Boyce will report to Josh Critchley, head of European investment banking at RBC, the person added. This is not the first time that RBC has turned to the Japanese bank for a senior investment banking hire – in June the Canadian bank announced it had hired Nomura’s head of chemicals for Europe, the Middle East and Africa, Chris Carlisle.