Moves of the week
The £325 billion UK fund manager Schroders has done away with the position of head of trading, reverting instead to heads of individual asset classes following a restructure by new CEO Peter Harrison.
The fund manager’s New York-based head of trading, Rob McGrath – who oversaw more than 40 traders across equities, fixed income and foreign exchange – left his role in May, a spokeswoman confirmed. Also departing Schroders as a result of the changes is Nick Robinson, head of fixed income trading in London.
McGrath’s responsibilities have been split between London-based head of equity trading, Gregg Dalley, and Robbie Boukhoufane, who will now oversee a combined fixed income and FX trading desk.
Both Dalley and Boukhoufane will report to John Marsland, Schroders’ chief operating officer for investment.
The moves come three months after Peter Harrison, previously Schroders’ global head of equities, replaced Michael Dobson as chief executive.
Blythe Masters, who was appointed as Santander Consumer’s non-executive chairwoman in July 2015, will move into a broader role with parent company Banco Santander with a focus on its global digital banking efforts. In her new roles, Masters will be senior technology adviser and will join Santander’s international advisory board. She will also be on the board of Santander’s online bank, Openbank.
Masters is chief executive of financial technology startup Digital Asset Holdings. Her previous experience includes senior executive roles at JP Morgan, including serving as head of its global commodities business from 2007 to 2014, and serving as finance chief of its investment bank from 2004 to 2007.
Eaton Vance, a $ 319 billion US fund manager building its presence in Europe, has recruited a new London-based sales chief for its non-US business to replace an executive who left for Pictet in January.
Tjalling Halbertsma will join Eaton Vance as a managing director in September, the firm said in a July 11 statement. He replaces Niall Quinn, who joined Pictet Asset Management as global head of institutional business, excluding Japan.
Halbertsma will take responsibility for the London sales office, which distributes the firm’s Ireland-based mutual funds and handles sales to big institutional investors around the world.
These operations are co-ordinated through the US firm’s London office, where Halbertsma will be based.
He will be reporting to Boston-based Matt Witkos, president of the firm’s distribution arm. Halbertsma will oversee business development across Europe, the Middle East, Africa, Asia, Latin America and Australia, including management of sales, client service and marketing work.
UBS has hired a former Morgan Stanley executive director to help oversee its European cash equities business. Chris Blackburn, who left the US bank earlier in 2016, has been recruited as business manager for the Swiss bank’s Europe, the Middle East and Africa cash equities unit, according to a person familiar with the matter.
He reports to Karolina Mikołajów, global operating officer for the cash equities business, according to the person. Mikołajów had also been covering the role for Emea but that responsibility has been handed to Blackburn. Blackburn declined to comment.
Blackburn worked at Morgan Stanley between October 2014 and February 2016, according to the UK’s Financial Services Register. He left the Wall Street firm, where he was an executive director in equities trading during a period in which a raft of individuals departed from the bank’s equities business.
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Ashurst adds Allen & Overy partner as it bolsters New York office
The UK-based international law firm Ashurst has hired a partner from rivals Allen & Overy. Infrastructure lawyer Andrew Fraiser, who has been a partner at Allen & Overy’s US practice for over a decade, joins Ashurst’s New York office in September. According to a statement by Ashurst, Fraiser specialises in advising private equity investors, developers, contractors, lenders and governments on projects in both the US and Europe. According to his profile on the Allen & Overy website, before relocating to the US in 2010, Fraiser acted on more than 100 public and private partnership projects in Europe and the Middle East.
Axa Investment Managers adds to responsible investment team
Axa Investment Managers has hired an analyst from Standard Life to complement its environmental, social and governance capacity, the investment arm of the French insurer said in a statement. Alix Chosson joins as an energy fundamentals analyst, based within the Axa asset management subsidiary’s responsible investment team. Chosson joined Standard Life in 2013 from Generali Investments, the asset management arm of Italian insurance company Assicurazioni Generali, where she covered responsible investments. She started her career at Amundi Asset Management, following postgraduate study at Sciences Po Lyon and Institut d’Administration d’Entreprise Paris Est-Créteil.
Citi names Emea strategic equities heads
Citigroup has hired a managing director from Bank of America Merrill Lynch to co-lead its corporate equity derivatives team in Europe, the Middle East and Africa. In a July 11 memo sent to Citi’s equities staff, Tim Gately, the bank’s head of Emea equities, said Vincent Folliot and Alessandro Amicucci had been appointed co-heads of strategic equity solutions for Emea, based in London. Folliot is set to join from BAML, where since 2010 he has built the US bank’s strategic equity solutions businesses in France, the Benelux, Latin America and Iberia, according to the memo. The pair replaces Sophie Lecoq at the helm of the Emea strategic equity solutions team. Lecoq left the bank earlier in 2016.
Demica taps trio from Santander and Credit Agricole
Trade finance technology platform Demica has hired a trio of bankers, including two of Santander’s most senior trade financiers. Demica has made Angel Blanco its head of origination, Enrique Jimenez becomes senior supply chain finance origination director and Marc Wolf an origination director. Blanco was formerly head of receivables at Santander global banking markets. Jimenez was also at Santander, where he led supply chain finance and trade. Wolf worked at Crédit Agricole corporate and investment bank, where he was responsible for securitising trade finance assets. A statement from Demica said that Blanco would divide his time between Spain and the UK, while Jimenez and Wolf would be based in London. All three new recruits will report to Demica’s head of origination, Tim Davies.
GMT calls time on fundraising as senior partner departs
London-based private equity firm GMT Communications Partners has suspended efforts to raise its latest fund and is instead pursuing a deal-by-deal model. Three people have recently left GMT including senior partner Natalie Tydeman. She joined in 2007 and became a partner in 2010 before being promoted again in 2014. Massimo Prelz, a senior adviser at GMT since 2004, and Francois Stoessel, a principal, have also left, according to the person. The departures come shortly after Bijal Patel, GMT’s head of investor relations, left for emerging market-focused private equity firm Actis in June.
IG Group taps Tullett Prebon for chief financial officer role
The former finance chief at Tullett Prebon, and one of the key players in the interdealer broker’s billion-pound deal for Icap’s voice broking business, has reemerged at an online trading platform. Paul Mainwaring, who for nearly a decade was group finance director at Tullett before his departure earlier this year, will join IG Group on July 11 as its chief financial officer, the firm said in a statement on July 8.
ING looks to Credit Suisse for UK FIG role
The Dutch bank ING’s investment banking arm has appointed a senior Credit Suisse debt capital markets banker as head of financial institutions for the UK region, according to a statement by the bank. Gregory Arkus, who starts at the Dutch bank on September 5, was previously a head of rates, capital markets and syndicate, where he focused on sovereign, supranational and agency debt. Between 2007 and 2012, Arkus was head of UK and Irish financial institutions DCM for Credit Suisse. He is leaving Credit Suisse after 16 years with the bank, having joined from Nomura in 2000.
HSBC taps Northern Trust for investor services brief
HSBC has appointed a head of cross-border sales for securities services, Emea, from Northern Trust, the bank has said in a statement. Paul Heffernan, who was previously a funds business sales executive focusing on Europe, takes on the newly created role at HSBC Securities Services, the custody banking and fund services arm of the UK financial services giant. The statement said Heffernan would be responsible for sales and advising fund managers on setting up fund vehicles in a variety of jurisdictions and asset classes.
Man GLG recruits fives
Man GLG, the hedge fund run by listed investment manager Man Group, has hired five experienced asset managers, four in New York and one in London. The additions expand the team around recently appointed head of emerging market debt strategies, Guillermo Ossés, who joined the fund in January 2016 from HSBC Global Asset Management. In New York, Phil Yuhn, Jose Wynne and Lisa Chua join Man GLG as portfolio managers. Yuhn was a portfolio manager at American Century, having worked alongside Ossés at HSBC. Wynne was a managing director and head of FX research at Barclays. Chua also worked at HSBC as a senior vice-president and external markets portfolio manager. Also joining in New York is Ehsan Bashi, a portfolio engineer formerly of KPMG, while joining in London is Maria do Carmo, a managing director at Banco Itaú BBA International.
MUFG seeks out State Street managing director for sales role
MUFG Investor Services, part of the Mitsubishi UFJ Financial Group, has appointed a former State Street custody banker with hedge fund services expertise. Marc Russell-Jones, who joins the Japanese bank as head of business development for Emea, was in his previous role head of asset manager sector solutions for the Nordics and UK at State Street Global Advisors. Before joining SSgA in 2014, Russell-Jones was managing director at JP Morgan, where he worked in prime brokerage as head of Emea sales for alternative investments. Russell-Jones had come to JP Morgan from custody banking behemoth BNY Mellon in 2011. A statement from MUFG said that he would be promoting MUFG’s asset services to hedge funds, asset managers and private equity firms in the Emea region.
Parker Fitzgerald promotes PwC veteran
The management consultancy Parker Fitzgerald has promoted its current head of institutional relationships to the position of vice-chairman. Jeremy Scott joined Parker Fitzgerald in October 2015, after a career at PwC lasting 37 years, according to details on his LinkedIn profile. In a statement, the consultancy said that Scott would be tasked with “helping clients understand and plan for the implications of Brexit”.
UBS appoints former London Stock Exchange chairman
A former London Stock Exchange chairman has moved to UBS, according to a statement by the bank. Chris Gibson-Smith becomes vice-chairman of corporate client solutions, Emea. Gibson-Smith has over 40 years of experience across oil, aviation and finance. He was chairman of British Land from 2007 until 2012 and was chairman of the LSE between 2003 to 2015. Gibson-Smith will remain chairman of annuity provider Partnership Assurance, a position he has held since 2013. The appointment follows the hire of Ian Hart by UBS in May, as co-chairman of UK Investment Banking.
Vanguard hires for push to reach European consultants
Vanguard has hired its first consultant relations head for Europe. The US manager, with $ 3.5 trillion in assets under management as of the end of May 2016, has hired the former executive director for institutional business development in the UK and Ireland at UBS Asset Management. Gavin Lewis has joined the firm in the new role of head of consultant relations for Europe, Vanguard said in a statement on July 8. A Vanguard spokeswoman said Lewis had been charged with growing both its defined benefit and defined contribution pensions business.
Vontobel Asset Management hires bond boutique pair
The Sfr177 billion Swiss fund manager Vontobel Asset Management has appointed a pair of fixed income executives. Adrian Bender joins Vontobel from Amundi, where he was head of product specialists – global fixed income and foreign exchange. A statement from Vontobel said that Bender had 20 years of industry experience, having worked in the past at Crédit Agricole and Banque Credit Lyonnais. Also joining is Sberbank CIB senior credit analyst Sergey Goncharov, who will be based on the emerging markets bonds team as a credit analyst, the Vontobel statement said.
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