• Moves of the week
Man Group and Pimco
Manny Roman is stepping down from hedge fund giant Man Group to become CEO of Pimco. He will take up the lead role at Pimco in November, after stepping back from Man Group at the end of August. He will be replaced by Luke Ellis, president at Man.
Pimco’s current chief executive officer, Douglas Hodge, is taking up the role of managing director and senior adviser, according to a statement from Pimco.
Roman is set to help Pimco drive its active management business, and will be based in Pimco’s headquarters in Newport Beach, California. He said in a statement: “Man Group is an excellent business and I am sad to be leaving, but I have decided to accept this new, outstanding opportunity and move back to the US where my family is based.”
Ellis has worked alongside Roman since 2012, and was his expected successor, according to a person familiar with the situation. He joined Man in 2010, and has been overseeing the group’s main investment strategies.
Aberdeen Asset Management
Aberdeen’s global head of investment solutions has left the £292.8 billion fund manager after running the division for five years.
The asset manager confirmed in a statement on July 15 that Archie Struthers – who joined Scottish Widows Investments Partnership from BlackRock in 2011 – had left to pursue new opportunities.
In the same statement, Andrew McCaffery, group head of solutions at Aberdeen, said: “Archie made a major contribution to the development of the business whilst at Swip and during the integration process at Aberdeen and we thank him for all his hard work.”
The firm added that Struthers would not be directly replaced, with his responsibilities “absorbed by other members of the senior management team within solutions”.
As of March 31, Aberdeen ran some £128 billion in the solutions business, overseen by McCaffery. Over the previous six months, the division suffered £5.6 billion in outflows, according to its results for the period.
The founder of Mid Europa Partners, the London-based private equity firm that invests in central and south-eastern Europe, is to step down as a managing partner after 17 years, joining a raft of other buyout veterans who have left their roles in recent months.
Thierry Baudon, who founded Mid Europa in 1999 and has led the team as a managing partner ever since, will switch to executive chairman on August 1. Robert Knorr and Matthew Strassberg will take over as co-managing partners, according to a statement on July 19.
Baudon will continue to chair Mid Europa’s investment committee and focus on the firm’s “medium-term strategic development”, the statement said.
Knorr and Strassberg, who will assume overall management responsibility for the business and steer Mid Europa’s investment strategy, have been partners at the firm for over a decade. Knorr has been with the firm since it launched while Strassberg joined in 2002.
Hudson River Trading, one of the world’s largest proprietary trading firms, has appointed a former senior executive at the New York Stock Exchange to replace a 2013 Financial News Rising Star at the helm of its European business.
The prop trading firm has hired Ian Jack as president of its European operations. Jack will join in August and report to Adam Nunes, Hudson River’s New York-based head of business development, who confirmed the appointment.
Jack was most recently chief executive of the UK capital markets division of GBST, a financial services software provider. Before taking that role in September 2015, he spent more than seven years at NYSE, latterly as global head of its infrastructure business in New York. He has also worked for Colt Telecom, Radianz and Logica.
• And the best of the rest…
BNY Mellon has appointed a new head of investment services for Emea, the US custody bank said in a statement. Hani Kablawi, who in his last role was head of asset servicing for Emea, is a custody banking veteran, having joined BNY Mellon in 1997. BNY Mellon said that Daron Pearce will replace Kablawi as head of asset servicing. In the statement, the bank said that Kablawi’s role would cover an array of clients, including broker dealers, asset managers and corporate trusts.
Fund management platform CoInvestor has appointed Sam Plumptre, a former fund manager at Livingbridge, as CEO, according to a statement from the firm. He will support founder Charles Owen with managing the business. Additionally, Jonathan Polin becomes an advisory board member and Matthew Peacock non-executive chairman. Polin is group CEO at Sanlam (UK) and an early-stage investor in the startup. Peacock has a background in starting financial services companies, having founded Hanover Investments in 2002.
Secondaries giant Coller Capital has completed the reshuffle of its senior management team following the unexpected departure of its chief executive in January. Coller Capital has appointed Michael Schad, a London-based partner, as head of investment management, according to a statement on July 18. Schad will work alongside founder Jeremy Coller to help develop and implement the firm’s investment strategy. David Platter and Francois Aguerre, based in New York and London respectively, will become co-heads of origination with responsibility for managing Coller’s investment origination activities worldwide. Two partners, Luca Salvato in New York and Sebastien Burdel in London, have left, the statement said.
Credit Suisse has hired a senior natural resources banking head from rival Deutsche Bank to oversee its European mergers and acquisitions business, according to an internal memo. Cathal Deasy will join Credit Suisse in October and will be based in London, according to the July 13 memo. Its contents were confirmed by a bank spokeswoman. Deasy joined Deutsche Bank in 2007 and has been its head of dealmaking across the sector group that includes metals, mining, utilities, and oil and gas.
Deutsche Bank has promoted investment banker Charlie Dupree to lead its Americas mergers and acquisitions team, succeeding Jim Ratigan, who plans to leave the bank, according to an internal memo. Dupree led a number of deals in the industrials sector for the bank, including Danaher’s spinoff of its Fortive unit in 2016, following the conglomerate’s purchase of Pall Corp. Meanwhile, the firm hired Bank of America technology banker David King to serve as co-head of technology M&A for the Americas, according to the memo, a copy of which was viewed by The Wall Street Journal. King will succeed Lee Counselman, who is taking a new role as global head of software for a division that manages investment banking relationships with the Deutsche Bank’s clients.
Deutsche Bank (cont)
Jeff Urwin, the former JP Morgan banker now in charge of Deutsche Bank’s corporate and investment banking business, has turned to his former employer to fill the German bank’s top transaction banking role. John Gibbons, a 34-year veteran of the banking sector who was JP Morgan’s regional executive for Europe, the Middle East and Africa and global head of banks and broker dealers for treasury services, will rejoin Deutsche Bank as head of global transaction banking in October, the German bank said in a statement on July 14. Gibbons worked for Deutsche Bank and Bankers Trust, which became part of the German group, from 1992 to 2001. He will replace Werner Steinmueller, who has been named chief executive of Deutsche Bank’s Asia Pacific operations and will join the bank’s management board following approval from regulators and the bank’s supervisory board. Gibbons, who joined JP Morgan in 2011, will work in Deutsche Bank’s London office and will report to New York-based Urwin, who was also his boss at JP Morgan for a period in 2014.
US asset manager Eaton Vance Management has hired a BTG Pactual credit analyst, the firm said in a statement. Hari Thirumalai joins Eaton Vance’s global high-yield team, based in London. Thirumalai spent three years at BTG Pactual, following a stint in Singapore at Brummer & Partners Asia. He has also worked as a trader at UBS and BAML. Thirumalai will report to Jeffrey Mueller, global high-yield portfolio manager leading Eaton Vance’s European corporate credit operations.
Lombard Odier Investment Managers
Lombard Odier Investment Managers has added an institutional sales executive from Aviva Investors. Tammy McPherson, who was head of insurance business development at Aviva Investors, becomes head of UK institutional business development at Lombard Odier IM. According to details on her LinkedIn profile, McPherson was at ABN Amro before joining Aviva Investors in 2008. The statement said that McPherson would be responsible for raising the profile of Lombard Odier’s institutional business with direct benefit pension schemes and insurers.
Jim Iorio has been named as global head of sales at Icap’s EBS BrokerTec platform, which trades fixed income and foreign exchange, the company said in a statement on July 18. Iorio, who will be based in New York, has responsibility for sales across both the EBS and BrokerTec platforms and will report to Gil Mandelzis, chief executive of EBS BrokerTec. Iorio was global head of currency and commodities distribution at Barclays, having spent 14 years at Lehman Brothers from 1993 until moving to Barclays after the UK bank acquired parts of the collapsed US bank in late 2008.
Pimco has hired executives from Credit Suisse and Tudor Investment, the Allianz-owned funds manager said in a statement. Danielle Luk, who worked as an options trader at Credit Suisse, joins the bond manager as executive vice-president and portfolio manager, while Tiffany Wilding, who was a director of global interest rate research at Tudor, becomes senior vice-president and US economist. Both will be based in Pimco’s office in Newport Beach, California.
A five-decade veteran of London’s corporate finance scene, who stepped down as chairman of that business at Cantor Fitzgerald Europe in May, has re-emerged at a London-based nomad and broking firm. Richard Redmayne, whose son is the Oscar-winning The Theory of Everything actor Eddie Redmayne, has joined SP Angel as director of corporate finance and broking, according to a statement from the firm on July 18. He will focus on winning new clients and deals, particularly in the oil and gas sector.
TIAA Global Asset Management
The US teachers pension fund, TIAA Global Asset Management, has appointed two new managing directors to its Europe-based real assets institutional distribution team. TIAA has picked Per Frederiksen from Dimensional Fund Advisors to grow the company’s institutional links in the Nordic countries. At Dimensional, Frederiksen was vice-president and head of the Nordic Region. The second managing director hired, Dan Greene, is tasked with developing relationships with global and regional investment consultants. In his former role, Greene was head of global consultant relations at Invesco.
Willis Towers Watson
Willis Towers Watson has hired a senior Aon Hewitt consultant, Kemp Ross, who becomes global head of delegated investment solutions at the consultancy. Ross, who will be based in Chicago, had been working as a senior partner, head of solutions and operations for investment at Aon Hewitt. Ross joined Aon Hewitt in 2008 from Mercer. According to a statement by Willis Towers Watson, the appointment follows increasing demand for the company’s investment outsourcing services, which now have around $ 75 billion in assets under management.
Zopa, the peer-to-peer lending platform, has appointed a new chief technology officer, the company said in a statement. Ronen Benchetrit, who was chief technology officer at online gambling operator PokerStars, will drive technology strategy at the fintech company, the statement said. Before joining PokerStars, Ronen worked as an engineer for Avaya Telecommunications. Prior to that, and for over six years, he ran an engineering startup in software development, specialising in the security and defence sectors.