Aberdeen appoints strategy chief
The former co-chief executive of Cantor Fitzgerald Europe, who stepped down in May, has re-emerged as global head of strategy at Aberdeen Asset Management. Gordon Neilly, who started work in June, reports directly to CEO Martin Gilbert. People familiar with Aberdeen Asset Management said Neilly’s tasks would include working out ways to make the most of its fixed income and multi-asset businesses, following setbacks for its dominant emerging markets business. David Boyle, who succeeded Hugh Little in June 2015 as Aberdeen Asset Management’s internal head of acquisitions, will join Neilly’s team. Neilly joined Cantor Fitzgerald Europe as head of corporate finance in July 2012, adding the title of co-chief executive in September 2014.
Aima names new chair
The trade body for the world’s alternative investment firms has named a new chairman and brought in fresh regulatory expertise. The Alternative Investment Management Association said in a statement on September 27 that Simon Lorne, the chief legal officer of hedge fund Millennium Management, had replaced Kathleen Casey as its chair. Casey, a former commissioner at the US Securities and Exchanges Commission, has held the role since 2012. Lorne takes over at the helm of a body that represents alternative investment managers with more than $ 1.5 trillion under management. Aima has added Ryan Taylor, the global head of compliance at Brevan Howard Asset Management, and Robyn Grew, chief administrative officer and general counsel at Man Group – two of Europe’s largest hedge fund managers – to its council of senior advisers. Also joining its council are Michael Weinberg, chief investment strategist at US hedge fund manager Protégé Partners, and Han Ming Ho, a partner at law firm Sidley Austin. Eva Sanchez, deputy general counsel at Citadel in Europe, and Choo San Yeoh, a hedge fund analyst at Albourne Partners, have stepped down from the council.
BlackFin hires former Advent director
Private equity firm BlackFin has hired a former Advent International director as a managing director. Damien Lestang, who left Paris-based Advent in June after 11 years with the firm, joins BlackFin’s buyout team, according to a statement from the company. At Advent, Lestang was involved in a number of private equity deals, including Advent’s acquisition of payments company Oberthur. Prior to Advent, Lestang worked for BNP Paribas’ leverage finance team and at Idinvest Partners.
BlackRock appoints consultant relations head
The former chief executive of the investment consulting firm Stamford Associates, who left in February after little more than a year in the job, has resurfaced at the world’s largest asset manager, BlackRock. Alexandra Haggard will manage the $ 4.9 billion manager’s 30-strong consultant relations team in Europe, the Middle East and Africa, according to an internal memo seen by FN. She is based in London, reporting to John Gee-Grant, global head of consultant relations at BlackRock. Haggard was appointed head of Stamford, whose largest contract involves advising wealth manager St James’s Place, in January 2015, working alongside its veteran investment chief Nathan Gelber. Her tenure was brief, however. She left in February 2016, with Gelber telling FN at the time that there had been strategic differences of opinion. Before Stamford, she spent 14 years at Russell Investments, where her last job was as managing director for Emea, leading a team of 25 involved in product development, marketing and public relations.
Egeria’s IR partner departs
A long-standing investor relations partner at the Amsterdam-based buyout firm Egeria has left. Caroline Huyskes-van Doorne, who joined Egeria in 2003, left the firm in the summer, partner Mark Wetzels confirmed. Huyskes-van Doorne led fundraising for Egeria’s fourth fund, which closed on its hard cap of €600 million in 2012. Wetzels has temporarily taken on responsibility for investor relations at the firm until a suitable replacement can be found. Before joining Egeria, Huyskes-van Doorne worked in the corporate finance and capital markets divisions of Netherlands-based private bank MeesPierson. She previously worked for ABN Amro Bank in its structured finance division.
Icap exec pulls out of COO role at Tullett Prebon
A top Icap executive who was due to move into a C-suite role at Tullett Prebon following the merger of their voice-broking businesses, will no longer make the move. Ken Pigaga, Icap’s chief operating officer, was set to take up the same role at the enlarged Tullett Prebon on completion of the deal, which was struck in November 2015. But in a September 26 statement, Tullett said Pigaga had decided “not to take up the position” and that an announcement about a COO appointment would be made in due course.The intention had been for Pigaga to step down from Icap on completion of the deal and move to Tullett, which will be rebranded TP Icap. He remains in discussions with Icap and Tullett about his future, according to a spokeswoman for Icap.
Kames’ top dealer to retire
The head of investment dealing at £50 billion asset manager Kames Capital – and a European board member at block trading platform Liquidnet – retired at the end of September. Adrian Fitzpatrick called it a day at Edinburgh-based Kames on September 30, he told FN. Fitzpatrick has been in the industry for more than 40 years, having started his career at asset manager Ivory & Sime in 1974. Having arrived as an office junior, he joined its central dealing team in 1986 as a trainee dealer and was then promoted to head dealer in 1991 covering all asset classes. He left in 1997 to set up the dealing team at the funds arm of Scottish Equitable, which later became part of Aegon Asset Management and is now Kames Capital – managing £50.1 billion on behalf of UK and international clients. He will be replaced by Kirstie MacGillivray.
JP Morgan adjusts wealth line-up
JP Morgan is shifting some executives in its retail bank and wealth management groups, according to internal memos. Barry Sommers will co-lead JP Morgan’s new wealth management and investment solutions division alongside Brian Carlin, according to memos sent to employees and seen by The Wall Street Journal. Thasunda Duckett, who previously led the bank’s auto finance unit, will succeed Sommers as head of JP Morgan’s consumer bank.
Jupiter lands BlackRock analyst
Jupiter has appointed a credit analyst from BlackRock. Christian Holder, who started at the asset manager in late September, has worked at BlackRock since 2004. Holder will report to Hilary Blandy, head of credit research. Jupiter said in a statement that the appointment strengthens its fixed income capabilities, including a £8.7 billion unconstrained bond fund.
Light Sky Macro fills senior roles
Ben Melkman, who left Brevan Howard earlier in the year, has hired former employees of Caxton Associates, Goldman Sachs and Bank of America Merrill Lynch to fill roles at his new global macro hedge fund. Melkman has started adding to his team at New York-based Light Sky Macro, filling the roles of chief risk officer, head of markets and head of research, according to a person familiar with the matter. Barry Schachter has been appointed as a partner and Light Sky’s chief risk officer. Schachter has previously held similar roles at Caxton Associates, SAC Capital Advisors, Balyasny Asset Management and Moore Capital. Joseph Mauro will join on October 1 as head of markets, having been a partner responsible for European hedge fund coverage across fixed income, emerging markets, foreign exchange, credit and commodities at Goldman Sachs. Alberto Ades has been named head of research. He has previously worked as co-head of global economics and head of global emerging markets fixed income strategy at BAML. Light Sky has also appointed Douglas Spiegel as its chief financial officer and chief compliance officer. He previously worked at event-driven hedge fund Realm Partners.
Liquidnet lures banking duo
Liquidnet, the trading platform that allows asset managers to trade directly with each other, has hired a duo of bankers, according to a statement from the company. Gareth Exton and Mickey Senic join Liquidnet’s liquidity team. Exton was head of transaction cost analysis for Emea at Bank of America Merrill Lynch. Senic worked as a senior trader at French investment bank Natixis. Both will report to Chris Jackson, head of Liquidnet’s execution and quantitative services team.
MUFG Investor Services adds executive director
MUFG Investor Services has expanded its Emea private equity, real estate and infrastructure sales team, according to a statement by the bank. Kate Stallard joins MUFG from consultancy Iris Partners as an executive director for business development in Emea. Stallard will be responsible for promoting the Japanese bank’s asset servicing products among new and existing clients. MUFG sells fund administration, custody, depositary, trustee, foreign exchange and regulatory services. Stallard has previously worked for HSBC and Northern Trust.
Peel Hunt picks partner from Canaccord Genuity
Stockbroker Peel Hunt has appointed a partner to its corporate department from US investment bank Canaccord Genuity, according to a statement from the company. Roger Lambert, who has chaired corporate broking at Canaccord since 2010, will start at Peel Hunt in January 2017. He will report to Andrew Chapman, the head of corporate and ECM at the broking house.
Principal Global Investors names new Europe head
Principal Global Investors, the $ 403 billion US fund manager, has named a new chief executive of its European business for the first time in a decade, after the executive holding that role switched to a new wealth advisory post at the group. The firm said in a September 28 statement that Tim Stumpff, most recently president of fund of hedge funds manager Liongate Capital Management, in which Principal Global Investors acquired a 55% stake in 2013, had become head of its £13 billion European business. Stumpff, who has been with the Principal Financial Group, Principal Global Investors’ parent, since 2003 and is based in London in his new role, has replaced Nick Lyster, who has moved to a newly created role as global head of wealth advisory services at Principal. Both assumed their new roles in August. Lyster had been Europe CEO at Principal Global Investors since 2006. According to the firm, he was jointly responsible for opening its London office in 1999.
Societe Generale names new transaction banking head
Societe Generale has named a new global head of its transaction banking business, promoting a near-30-year veteran of the French bank. Benoît Desserre has been named head of global transaction banking, according to a statement from SocGen on September 26. He will also act as deputy head of global transaction and payment services, reporting in both roles to Pascal Augé, head of GTPS. In his new transaction banking role, Desserre will oversee four business lines, according to the statement: corporate cash management, cash clearing/correspondent banking, trade finance and factoring. Desserre joined the group in Paris in 1989 and has worked in various roles in the US, France and Australia. In 2013, he was named head of payments and cash management, a role that has now been taken by Aurélien Viry, another SocGen veteran who has most recently held a risk role at Komercni Banka, the group’s Czech subsidiary.
Societe Generale Securities Services shuffles executives
Societe Generale Securities Services has promoted a senior executive to the role of global head of sub-custody network management, according to a statement by the French bank. Massimiliano Notarianni takes on the role, having previously been head of provider monitoring and change at the bank. He will be based in Paris and report to the global head of securities banking operations Didier Rolland. Notarianni replaces Mathilde Guérin in the role, who becomes deputy head of product engineering.
Standard Chartered’s global head of financial markets departs
Standard Chartered’s global head of financial markets is leaving the bank little over a year after joining. Jonathan Paul has taken the decision to pursue other interests, according to a spokesman for the bank. He will depart on September 30 with a period of gardening leave to start on October 1. His last day will be at the end of April 2017. Chris Allington, the bank’s global head of foreign exchange, and Neh Thaker, its global co-head of foreign exchange, rates and credit, have taken over as interim co-heads of global markets. Paul joined Standard Chartered in April 2015. At the time of his appointment, the bank noted his 25 years of experience gained with Deutsche Bank, Goldman Sachs and Salomon Brothers across London, New York, Singapore and Hong Kong.
UBS recruits former Barclays Russia head for top investment banking role
UBS has hired a senior banker to its US investment banking business, according to a memo from investment banking president Andrea Orcel to colleagues at the Swiss bank. Bob Foresman, who was Barclays’ group country head for Russia until January 2016, will work in a “client-facing strategic relationship role”, the memo said. He will be based out of UBS’s New York office. Foresman joined Barclays in 2009 from emerging markets investment bank Renaissance Capital.