Actis makes New York hire
Emerging markets private equity specialist Actis has boosted its New York team with the appointment of a former director at Commmonfund. The London-based firm has appointed Carlton Byrd as a director to assist with fundraising and investor relations, according to a statement from Actis. Byrd previously worked at investment manager Commonfund as a managing director for six years, raising money for private equity funds from US institutional investors. Before that, Byrd worked in a variety of business development roles in the hedge fund industry and at Goldman Sachs. Adiba Ighodaro, the head of Actis’s New York office, said in the news release that the appointment of Byrd “will further strengthen Actis‘ presence in the US”.
Axa IM makes structured finance appointments
Axa Investment Managers has added to its insurance linked securities team, which is part of its structured finance business. Marc Belbenoit-Avich joins as a senior portfolio manager from Swiss Re (France), while Robin Chiche, who was previously at Axa Global P&C, becomes a quantitative analyst. Both will be based in Paris and report to ILS head François Divet.
Bink adds non-execs
Payments technology company Bink has named two non-executive directors to its board. Bob Wigley, a former chair of Merrill Lynch Emea and chair of First Global Trust Bank joins the fintech firm’s board, alongside Steve Perry, the former head of Visa Europe. Other former bankers on Bink’s board include Ed Matthews, former investment banker for Credit Suisse, Citigroup, Lehman Brothers and Nomura, and Mike Jordan, who has 20 years’ experience in the payments industry at American Express, HSBC and Alpha Card.
BNP Paribas names new UK head
BNP Paribas has moved one of its top bankers in the Netherlands to London as its new UK chief. The French bank announced on October 3 that Anne Marie Verstraeten had been named country head for the UK. A bank spokesman confirmed that she has started in the role. She covers all of BNP Paribas’ businesses in the country: corporate and institutional banking, property, asset management, leasing, fleet management, insurance, personal finance and commercial finance. Belgian-born Verstraeten had been head of the Netherlands at BNP Paribas since 2014, and before that head of Canada since 2010. She has also held roles at the bank in New York, Singapore and London. As UK head she takes over from Ludovic de Montille, who becomes non-executive UK group chairman.
Church Commissioners names trustee board deputy head
The Bishop of Manchester has been appointed to the board of governors of the Church Commissioners, the Church of England’s £7 billion investment portfolio, as deputy chair. Dr David Walker takes over the role from Richard Chartres, the Bishop of London. A spokesman for the Church said the deputy chair leads the board of governors on behalf of the Archbishop of Canterbury, who formally chairs the body’s governance committee.
Citi’s chairman of European FIG leaves
Citigroup’s chairman for financial institutions in Europe, the Middle East and Africa has left the US bank after six years in the role. Gilles Graham, who was among a string of high-profile FIG departures from Nomura in 2010, when he switched to Citi, left the US bank in recent weeks, according to a person familiar with the move. It is not known if Graham is moving to another role in the City. Graham spent 11 years in Morgan Stanley’s financial institutions investment banking team before being hired by Lehman Brothers in 2007, a year before its bankruptcy and the takeover of its European business by Nomura.
Deutsche Bank real estate chief jumps to JP Morgan
JP Morgan has recruited the global co-head of real estate, gaming and lodging investment banking at Deutsche Bank to take charge of its own rival team. The Wall Street bank has named Massimo Saletti as head of real estate, gaming and lodging investment banking for Europe, the Middle East and Africa and global industry co-head, alongside Tom Grier, according to an October 4 memo seen by Financial News and confirmed by the bank. The memo, which was sent to JP Morgan staff by Harry Hampson, head of the bank’s strategic investor group in Emea and its head of Emea coverage, said Saletti would start his new role in January after a period of gardening leave. Saletti was global co-head of the real estate, gaming and lodging practice at Deutsche Bank, where he has worked for the past 13 years. Before that he spent four years in the real estate advisory unit at Lazard. He replaces Guillermo Baygual, who will remain global co-head for the diversified industries group. At Deutsche Bank, New York-based Drew Goldman, who had been Saletti’s co-head, will take sole control of the real estate, gaming and lodging practice, according to a person familiar with the matter.
DWS convertible bond managers exit
Two convertible bond managers are to leave DWS, the German arm of Deutsche Asset Management, following the departure of global equities chief Henning Gebhardt. One of the departees, Stefan Schauer, is deputy manager of the €2.4 billion Deutsche Invest 1 Convertibles. The other, Marc-Alexander Kniess, is portfolio manager of the €265 million DWS convertibles fund, according to a person familiar with DeAM. The managers could not be reached for comment and their destination is unknown. The Deutsche Invest 1 Convertibles fund continues to be led by Christian Hille, supported by the rest of the convertibles team. News of the departures follows the decision of Gebhardt to leave DWS to join German private bank Berenberg. Global growth equity manager Nils Ernst has also quit the firm.
Goldman’s M&A ‘Terminator’ is leaving
John Vaske, one of Goldman Sachs’s merger and acquisition co-chairmen, is leaving the firm, according to a memo reviewed by The Wall Street Journal. A 28-year veteran of the investment bank, Vaske in December was named the third co-chair of Goldman’s global M&A group, alongside Tim Ingrassia and Paul Parker. He started in Goldman’s M&A department as an analyst in 1988 and became a chemicals banker, and later head of the natural resources group. The veteran merger banker was named managing director in 1998 and a partner in 2000 and spent time in the bank’s offices in Tokyo and London. Vaske is now expected to work for a client, rather than leaving for a rival bank, according to people familiar with his plans. His resignation was announced in a memo from Richard Gnodde, David Solomon and John Waldron, co-heads of the investment banking division.
HSBC hires ex-JP Morgan MD to run high-grade credit trading
HSBC has filled a gap at the top of its European corporate credit trading business, hiring a former JP Morgan managing director to lead its high-grade trading team, according to a memo sent to staff on October 3. Andrew Sinfield, who has spent the past 18 months running his own investment fund, will lead the division and will report to Hussein Dbouk, the bank’s head of investment grade, CDS and high-yield credit trading in Europe. The memo was seen by Financial News and confirmed by an HSBC spokeswoman. Sinfield’s 20-years-plus experience in credit trading includes a decade from 2003 to 2013 at JP Morgan, where he was head of European investment grade corporate trading. Before that, he held trading roles at Commerzbank, Toronto-Dominion and Royal Bank of Canada. According to Sinfield’s LinkedIn profile, since March 2015 he was a partner at Calibrate Management, an alternative investment fund that he co-founded. Sinfield was deregistered from Calibrate Management on the UK’s Financial Services Register on June 14. John White, listed on Calibrate’s website as the firm’s founder, had not responded to a request for comment by the time of publication.
Level 20 appoints first CEO
A group promoting women in private equity has hired a well-known industry figure as its first chief executive as it continues to build industry support. Level 20 has appointed Jeryl Andrew, a former council member at the British Private Equity and Venture Capital Association. Andrew has chaired several BVCA committees and worked as a consultant to various buyout and venture capital firms. She was previously a partner at growth capital firm Advent Ventures, a director for fund investments at fund of funds investment group VenCap International and a director at Abingworth Management. Her appointment comes after the group attracted financial backing from more than 30 private equity firms in June. Level 20 campaigns for at least 20% of senior roles in Europe’s private equity industry to be held by women by 2020.
Manulife picks Aberdeen executive for Emea role
Manulife Asset Management has recruited an ex-Aberdeen Asset Management executive for a senior sales role, according to a statement from the US firm. Neil Summers joins Manulife as head of Emea client service and sales support, having been Emea head of client services at Aberdeen. Summers will report to Lauren Fleming, Manulife’s head of global distribution services.
Pensions Trust brings Mayall on board
Wendy Mayall has returned to the occupational pensions world as chair of the funding committee at the Pensions Trust, which manages £8 billion. Mayall was chief investment officer at the Unilever pension scheme between 1995 and 2011, during which time it took legal action against Merrill Lynch Investment Managers for alleged negligence. MLIM agreed an out-of-court settlement of £70 million in 2001. Mayall also served as trustee and investment chair of the Mineworkers’ Pension Scheme, and has put in stints at consultant Stamford Associates and insurer LV=. In August, she became a non-executive director at life insurer Phoenix Group. The Pensions Trust post, which was confirmed on Mayall’s LinkedIn page, makes her a more central figure in the world of institutional investment, when managers are fighting harder than ever to win business as schemes, including the Pensions Trust, seek in-house talent. Aside from chairing the funding committee, she has become a member of the Pensions Trust’s management board.
Ruffer signs up Flemings veteran in European push
Former Flemings marketer Michael Bruntisfield has joined UK boutique Ruffer as international business director. Baron Bruntisfield confirmed via LinkedIn that he had stepped down as a consultant to wealth advisory firm Frank Investments in September after deciding to take the job at Ruffer. He told Financial News that Ruffer wanted him to develop its client presence in mainland Europe. Before inheriting a peerage in 2007, Bruntisfield was known to the asset management world as Mickey Warrender. He developed his early career as a fund marketer at Robert Fleming Investment Management, which he joined in 1986, before its takeover by US bank JP Morgan in 2001. He later worked at China specialist Atlas Capital, multi-strategy hedge fund manager Concordia Advisors and CIM Investment Management, an Asian value boutique he ceased to advise in December 2015.
Stamford Associates steps into fiduciary management
Investment consultant Stamford Associates has recruited a former partner at rival Hymans Robertson with more than 30 years’ experience of the pensions and investments sector to set up a fiduciary management business. Carl Hitchman is joining Stamford as head of its new fiduciary management advisory proposition, the firm said in a statement on October 3, describing the launch of the new team as a “natural evolution” of its business model. Hitchman had been a Hymans partner, running a fiduciary oversight division that audits the quality of fiduciary managers on behalf of their clients, before leaving earlier in 2016.
UPB hires convertibles portfolio manager
Swiss private bank Union Bancaire Privée has hired a portfolio manager from the €7.5 billion French asset manager La Financière de l’Echiquier, the bank said in a statement. Benjamin Schapiro becomes a senior portfolio manager in UBP’s European convertible bonds team, based in Paris. Schapiro’s appointment follows that of Christina Jarrin to the same team in January from Edmond de Rothschild Asset Management. Schapiro started his fixed income career at BNP Paribas Investment Partners in 2010.
Unigestion adds senior trio
Swiss asset management firm Unigestion has added a trio of senior people to its ranks. Simone Gallo joins the fund manager as head of intermediary distribution from Pictet Asset Management, where he was a senior vice-president in the global clients group. Andrea Di Nisio joins Unigestion as head of southern Europe intermediaries from Dalton Strategic Partnership and Lloyd Reynolds comes in as head of Nordic and UK intermediaries. Reynolds, who has worked at Goldman Sachs Asset Management, Schroders Private Bank and JP Morgan in the past, joins from North Hill Capital.
Vanguard names new European chief
Vanguard, the world’s second-largest asset manager, has put a new executive in charge of of its $ 116 billion European business for the second time in about 18 months. The $ 3.5 trillion manager announced in a statement on September 29 that company veteran Sean Hagerty, a principal and global head of its portfolio review department, will move from the US to the UK later this year to take control of its European business. Hagerty will report to James Norris, head of the firm’s international business, and will also join the international leadership team. He will succeed John James, who has been in charge of Europe for little over a year, but is returning to the US to lead its global human resources division as managing director. James had relocated to the UK from Australia, where he had been country head, in 2015 to fill the shoes of Tom Rampulla, who had led Vanguard’s European business since 2008.