Advent partner heads to KKR-backed Pillarstone
Pillarstone has hired Georg Stratenwerth, a former partner at Boston-based private equity firm Advent International, as a non-executive director of Pillarstone’s Greek arm, where he will be responsible for the oversight and management of the company’s activities in Greece. It has also hired Elias Sakellis, a former executive director in the leverage finance and restructuring team at Goldman Sachs, as a partner in Greece.
Aegon to appoint CFO
Aegon has nominated US-born Matthew Rider as its new CFO, subject to approval by the Dutch Central Bank. Rider is expected to join in January 2017, succeeding Darryl Button in the role. He takes on the role after a sabbatical following over 25 years in the financial services industry including CFO for ING insurance and chief investment officer for Merrill Lynch insurance group.
FRC adds to board
Paul Druckman, who led the International Integrated Reporting Council as CEO for five years and is chairman of The Clear Group, has been appointed to the board of the Financial Reporting Council with effect from January 2017. He will join the Codes and Standards Committee and become chair of the Corporate Reporting Council from the same date.
La Financiere de l’Echiquier CEO steps down
Dominique Carrel-Billiard has stepped down from his role as CEO of La Financiere de l’Echiquier. He joined in 2014 having previously been the chief executive of French insurer Axa’s €560bn fund management business.
Lombard Odier hires Coutts & Co veteran
Lombard Odier’s private bank has hired Mike Edlinger as senior portfolio manager from Coutts & Co, where he was head of ultra high net worth portfolio management. Edlinger spent 20 years at Coutts & Co, where he was responsible for investing both onshore and offshore global discretionary and advisory portfolios.
LPFA chair handed extended tenure
Mayor of London Sadiq Khan has confirmed that Sir Merrick Cockell will be chairman of the London Pensions Fund Authority (LPFA) to the end of 2018. Sir Merrick is a former Conservative leader of the Royal Borough of Kensington and Chelsea Council and former Chairman of the Local Government Association and was initially appointed Chairman of the LPFA in September 2015.
NOW: Pensions appoints COO
Workplace pensions provider NOW: Pensions has appointed Neil Buckley as chief operating officer and Neil Brady as director of operations based in its Nottingham office, which opened in November 2015. Buckley joins from Doha Bank where he was head of technology and operations, while Brady joins from Capita where he was head of pension operations for the Teachers Pensions.
Omnes Capital hires in investor relations
Omnes Capital has hired Miria Späth Werder as a partner to head its international business development activities. Werder started her career as an auditor with PwC in Frankfurt and Paris as well as Ernst & Young in Geneva. In 2007, she joined Akina, initially in the finance department before becoming head of marketing and investor relations for Europe in 2010.
Pacific Investments names head of new multi-asset business
Sir John Beckwith’s Pacific Investments group has announced the launch of a new multi-asset business, Pacific Asset Management. It has hired Matthew Lamb, who was most recently the global head of liquid alternatives at Deutsche Asset Management, to head it up. Further senior hires from the asset management sector will be announced over the coming months, the firm said in a statement.
Rothschild brings debt advisory business to US with new hire Rothschild has hired former Credit Suisse banker Michael Speller to lead a new debt advisory business in North America. Speller formerly served as a managing director in Credit Suisse’s leveraged finance origination business, pitching debt deals for the bank’s industrial clients. He’s due to start his new job in February. In August, Rothschild announced it hired long-time UBS investment banker James Neissa to build out its North American advisory business, and it opened a Chicago office the following month. Rothschild’s North American debt advisory business plans to counsel clients on how to best sell bonds, loans and other instruments. Unlike big banks, it won’t use its balance sheet to backstop offerings or deal as closely with mutual funds, hedge funds and other investors who typically participate in big debt sales. The approach is meant to free the firm from conflicts stemming from working with both debt sellers and buyers.
SEI names head of institutional sales for Netherlands
SEI has named NN Investment Partners’ Jasper Streefland as head of institutional sales for the company’s Netherlands office. Jasper will report to Ian Love, who heads the division for the Emea region, and will be responsible for growing SEI’s fiduciary management business in the Netherlands while working closely with the UK institutional team and head of institutional client service in the Netherlands, Alexander van Aken.
Sidley Austin adds partner from Linklaters
US law firm Sidley Austin has added a new partner to its London office, bringing in former Linklaters partner Yen Sum to its corporate restructuring and bankruptcy group. Sum has specialised in advising corporates, private equity sponsors, hedge funds and investors on distressed opportunities and asset managers on restructuring and bankruptcy matters, M&A and leverage buyouts.
Standard Chartered to cut hundreds in cost-cutting drive
Standard Chartered is laying off hundreds of people working in corporate and institutional banking as it steps up its drive to cut costs. The Asia-focused bank will reduce overlapping roles in servicing customers, as part of a rejig of its structure and activities since raising fresh capital a year ago. Standard Chartered said in November 2015 it would cut 15,000 jobs over the next three years. A person familiar with the matter said the “few hundred” jobs going now are part of that figure. The bank on November 28 said the job cuts are the result of changes in the way it handles client relationships, and that it also needs to free up money to make planned technology investments. Earlier this month, Standard Chartered Chief Executive Bill Winters said the bank’s financial performance is “not yet acceptable” and that it was still working on its multiyear restructuring.
Stonehage Fleming hires RBC Wealth
Stonehage Fleming has hired Mike Moodie from RBC Wealth Management, where he was a vice president and managing director, as a consultant and board member for Stonehage Fleming US, based in Toronto. Fleming worked in the US from 2003 to 2010, where he led the expansion of RBC’s international wealth management offices across the region as head of the america’s region, before relocating to London between 2010 and 2013. His new role starts in November and he will report to Mark McMullen, CEO of family office at Stonehage Fleming.
Terra Firma bolsters ranks with 11 new hires
Terra Firma, the private equity firm founded and chaired by Guy Hands, has hired 11 new executives as it gears up to spend a €1 billion pool of capital. The new members of staff include six analysts, a managing director, two legal counsels, an investor relations executive and a finance executive, a spokeswoman for the firm confirmed. They have all joined since Hands took the decision to drop his lawsuit against Citigroup in June. Andrew Miller is the most senior of the new appointments. He joined the investment firm as a managing director in September 2016. Miller was previously chief executive of the Guardian Media Group between 2010 and 2015. He will be focused on the operational improvement of Terra Firma’s portfolio companies.
UBS hires newly-promoted Deutsche banker
UBS has hired Deutsche Bank’s recently promoted vice chairman of Americas corporate finance Michael Santini, just weeks after the German bank promoted him from co-head of industrial investment banking. He will join in early 2017 as vice chairman of UBS’s investment bank.
Unigestion appoints ex-Schroders institutional chief as UK chair
The former head of Schroders’ institutional business in the UK and Europe is to join Geneva-based Unigestion as the boutique builds aggressively in London. Miles O’Connor, who left the UK’s largest listed asset manager in June 2015, has been named as Unigestion’s UK chairman, the company announced December 1.
ZZ Capital sets up shop in London
Hong Kong-based investment firm ZZ Capital has opened up a London office and hired a former dealmaker from private equity firm KKR. The move comes amid a surge of Chinese investment in UK assets, as non-domestic investors spy opportunities following a decline in the value of sterling since the EU Referendum.Former KKR executive Sergio D’Angelo has joined ZZ Capital a year after leaving the US private equity firm, where he had spent a decade. D’Angelo is the latest in a series of heavyweight hires at the Chinese investment firm. Michael Min Cho, the former mergers and acquisition head at sovereign wealth fund Qatar Investment Authority, joined in May 2016 as ZZ’s chief executive. The firm also appointed Peter Chen, previously head of business development for Asia Pacific at pension giant Canada Pension Plan Investment Board, as its chief financial officer in April.