Aberdeen Asset Management opens first Middle East office
Aberdeen Asset Management has opened its first office in the Middle East, setting up shop in Abu Dhabi, as it eyes strong economic fundamentals in the region. The $ 402 billion UK-listed asset manager announced in a statement that its regional hub will be based in Abu Dhabi Global Market, the finance centre of Abu Dhabi. Aberdeen said it had become the first international asset manager to be registered with the ADGM. Martin Gilbert, Aberdeen’s chief executive, described the move as a “natural next step”, with the fund manager having worked in the region for over 20 years. The UK firm is moving its head of group strategy for distribution, Andrew Paul, and Lucy Draper, a business development manager who has covered international markets for seven years, from London to staff the new office. Paul has been named senior executive, Aberdeen Asset Management Middle East, with Draper assuming the title of senior business development manager, Middle East and Africa. Aberdeen said they would both continue to report to Nigel Norman, head of Middle East and Africa, who is based in London.
Aurelius makes fifth UK hire of 2016
Aurelius Equity Opportunities, a pan-European, mid-market investor, has hired Freya Macken to its UK team as associate. Macken will be based in Aurelius’s London office, working as part of the investment team to source and execute investments in target companies. Macken’s appointment is Aurelius’s fifth UK hire of 2016 and consolidates its expanding presence, reflected in the six deals announced so far this year. Macken has more than five years’ experience in debt financing, having worked most recently in the UK leveraged finance team at Crédit Agricole. She also worked at Barclays’ debt finance origination team.
Aviva Investors beefs up European real estate team
Aviva Investors, the global asset management business of the insurance giant, announced five hires to its real estate team, with roles based in the UK and Germany. Gary Sherwin has been appointed head of UK investment transactions from Land Securities, where he was most recently head of retail investment. Daniel Lienhard has joined the firm in Frankfurt as head of investment transactions. He has more than 16 years’ investment and asset management experience and joins from Savills Investment Management. Gaston Brandes has been appointed managing director and head of real estate business development. He has more than 16 years’ experience in the financial industry. He joins from Grosvenor Fund Management, where he was head of capital markets. Helen Rainsford has been appointed senior director in retail development. She has more than 25 years’ experience in retail and mixed use development and she joins from Martins Properties, where she was director of development. Darren Freed has been appointed as retail asset manager. He joins from Hammerson, where he was a retail asset manager.
Deutsche Bank names Santini vice-chairman of America’s corporate finance
Deutsche Bank’s Michael Santini, who co-heads the industrial company group at the German firm’s investment banking arm, has been promoted to vice-chairman of Americas corporate finance, according to a memo viewed by The Wall Street Journal. In his new role, Santini will work with executive teams and boards of directors across industries and deliver a range of advice, according to the memo from Mark Fedorcik, Deutsche Bank’s Americas corporate and investment banking chief. Santini also will work with the bank’s private equity coverage teams, the memo says. A spokeswoman for Deutsche Bank confirmed its contents. Santini joined Deutsche Bank in 2009 and since then has helped build its industrial group. Prior to Deutsche Bank, Santini spent 15 years at Merrill Lynch and was co-head of the Americas industrial group. As part of the new role, which was created for Santini, he will become a member of the corporate and investment banking executive committee for the Americas. John Anos, who co-heads Deutsche Bank’s natural resources group in the Americas, will take over Santini’s current responsibilities, co-heading the global industrial group with Richard Sheppard.
Eastspring hires ex-Pimco and Schroders equity chief
Virginie Maisonneuve, the former head of equities investing at Schroders and Pimco, has taken the top investment role at Eastspring Investments, a $ 140 billion Asian asset manager. Maisonneuve has been appointed chief investment officer at the Prudential-owned firm and will take oversight of all Eastspring’s investments across equities, fixed income and alternatives. Maisonneuve is a well-known name in City fund management and has featured on multiple FN lists of the most influential people in European finance. Her career, which began as an equity manager at Edinburgh-based Martin Currie, has seen her work at some of the biggest names in the sector. In January 2014 she joined Pimco – then still under the leadership of its founder Bill Gross – with a brief to lead the giant bond manager’s push into active equities investing. But she left around 18 months later after the group decided to rein back this strategy following Gross’s exit. Previously, Maisonneuve had spent almost a decade at Schroders.
Evercore turns to Goldman Sachs royalty for new chairman
Evercore Partners, whose business model closely resembles the Wall Street advisers of the 1970s and 80s, has appointed one of the best-known names in traditional investment banking as its chairman. Evercore said that John S Weinberg had joined as chairman of the board and also its executive chairman. Weinberg is a former co-head of investment banking at Goldman Sachs, where he spent around 30 years and served blue-chip clients including Ford, General Electric and Boeing. The Weinberg family has a long history with Goldman Sachs. John S Weinberg’s late father, John L Weinberg, ran the bank between 1976 and 1990. His grandfather was the legendary Goldman Sachs banker Sidney James Weinberg, while his cousin Peter A Weinberg co-founded the Wall Street adviser Perella Weinberg Partners. Roger Altman, Evercore’s founder and executive chairman, will now become senior chairman. Both Altman and Ralph Schlosstein, Evercore’s president and chief executive, will remain on the board.
Greenhill looks to Cabinet Office for latest hire
Greenhill has turned to the Cabinet Office for its latest London hire. Ed Welsh, who was most recently an executive director in the UK government’s Cabinet Office, has joined Greenhill in London as a managing director focused on the business services sector. Before working for the government he served as a managing director at Rothschild, where he spent 14 years, most recently as global co-head of business services.
IEX hires Morgan Stanley exec to lead listings unit
US stock exchange IEX has hired Sara Furber as its first head of listings, the company said in a statement. Furber joins from Morgan Stanley, where she was a managing director and held senior roles including chief operating officer of its wealth management business. She was previously at Bank of America Merrill Lynch, where her roles included COO for global corporate and investment banking. She will report to IEX’s chief executive Brad Katsuyama, who said IEX planned to establish a listings platform in 2017. Katsuyama and former colleagues from RBC Capital Markets founded IEX in 2012 to help level the playing field for long-only investors. The exchange, which gained attention in Michael Lewis’s 2014 book ‘Flash Boys’, launched as an alternative trading venue for US equities with several unique features. These included a flat fee for both sides of a trade and an inbuilt speed bump that slows down incoming orders to defeat the latency arbitrage strategies employed by some trading firms.
IHS Markit hires from IBM
IHS Markit has hired Andrew Aziz from IBM as global head of Markit Analytics. At IBM he led strategy, quantitative analytics and research for the risk analytics division. He also held several senior executive management functions at Algorithmics for 17 years, prior to its acquisition.
Milbank hires three-partner real estate team
US law firm Milbank, Tweed, Hadley & McCloy has added three partners to its US real estate practice from Allen & Overy. The trio includes Kevin O’Shea, who was the managing partner of Allen & Overy’s US operations before becoming the firm’s US senior partner, as well as Erwin Dweck and Yaakov Sheinfeld.
Nest CIO joins Edhec-Risk Institute international advisory board
Mark Fawcett has been appointed chairman of Edhec-Risk Institute’s international advisory board. Fawcett is chief investment officer of Nest Corporation, the trustee body responsible for running the National Employment Savings Trust, a multi-employer, country-wide pension scheme. Fawcett succeeds Tomas Franzén, former chief investment strategist with AP2, the second Swedish pension buffer fund and founder of Franzen Advisory. The Edhec-Risk Institute’s international advisory board is made up of 35 industry heavyweights and consults on the relevance and goals of the research programme proposals that are set out by the centre’s management. Additionally, the board is required to evaluate research outcomes with respect to their potential impact on industry practices. It also advises on the objectives and contents of projects deriving from the expertise of the research centre.
Palio Financial set up by ex-Moelis and Barclays bankers
Peter Meijer has quit his senior role at advisory house Moelis and established Palio Financial alongside former Barclays banker Geoff Smailes. Meijer and Smailes will advise banks and other financial services firms on work including selling non-core portfolios and other strategic initiatives. Meijer and Smailes have known each other for several years and began talking about launching their own firm earlier in 2016, Dutch-born Meijer told FN. Dutch-born Meijer started his career in the Netherlands with roles at Crédit Lyonnais and then Rabobank. Following a stint with Citigroup’s structured credit unit in the early 2000s, in 2004 he joined JP Morgan, where his jobs included global head of the franchise structuring group. He then joined Moelis in 2010, helping the firm to establish its European risk advisory practice and working with financial clients with portfolio disposals and other restructuring work. He left the firm, where he was a managing director, in October.
Psigma scoops HSBC investment adviser
HSBC Global Asset Management client director Sanjeev Chopra is to join discretionary fund manager Psigma Investment Management, the company has announced. Chopra, whose LinkedIn profile states he is on gardening leave until January, has worked at HSBC for nearly two decades. Some three and a half years of his tenure was spent providing investment advice and solutions, both discretionary and advisory, to high net worth clients from the Middle East and North Africa. Psigma was launched in 2002 and had gathered assets under management of £2.6 billion by the end of October 2016, from private clients, charities and pension schemes. Chopra will report to CEO John Howard-Smith.
Research MDs depart RBC Capital Markets
Two senior members from the research ranks at RBC Capital Markets have left the Canadian investment bank in London. Martin Young, a managing director covering European utilities, left in mid-October alongside fellow MD and capital goods analyst Andrew Carter, according to people familiar with the matter. Young was previously head of European utilities research at Nomura before joining the Canadian investment bank in 2013. He covered various energy groups including EDF. Carter had been with RBC Capital Markets since 2010, having joined from Macquarie Capital, according to the UK’s Financial Services Register. It is not known if the pair have secured roles elsewhere or whether RBC will replace them. Investment banks’ research teams face new challenges under incoming EU rules designed to shake up Europe’s trading industry, with the revised Markets in Financial Instruments Directive due to come into effect in early 2018.
Saunderson House reshuffles board
Saunderson House has made several changes to its board, with Jonathan Hagger stepping down from his position as independent non-executive director with effect from January 30, 2017. Dean Buckley, the chief executive of Scottish Windows Investment Partnership, will step in as a non-executive director.
White & Case hires Macfarlanes competition boss
In another sign of a US law firm hiring from a UK one, White & Case has added Macfarlanes’ head of competition Marc Israel to its London office. The firm has been on a hiring spree in London this year, with recent appointments including Hogan Lovells corporate partner Guy Potel.