Alpha FMC appoints EY consultant as head of digital
Technology consultancy Alpha FMC has picked an EY consultant to lead its digital advisory practice. Kimberly Yurisich, who was a director in the wealth and asset management division of EY, joins the fund management-focused consultancy firm as director and head of practice. In a statement, Alpha said Yurisich would lead a team of 10 consultants. A spokeswoman for Alpha said that the unit would be working across the business, from outsourcing to distribution to regulation, advising clients on how disruptive technologies impact the asset management business.
Axioma appoints marketing chief
Financial technology company Axioma has appointed a new chief marketing officer, according to a statement from the firm. Steve Mann becomes chief marketing officer at the company, charged with “accelerating” the software and consultancy company’s growth worldwide. Mann joins Axioma from management consultancy Adjuvi where he was also CMO, having had the same role for North America at legal data provider LexisNexis from 2011 to 2014. Mann will report to Axioma CEO Sebastian Ceria.
Bank of England’s markets and banking lead to stand down
The Bank of England’s deputy governor for markets and banking, who led the central bank’s review of the wholesale sector in the wake of the Libor-rigging scandal, is to step down early next year. Dame Minouche Shafik will leave at the end of February 2017 ahead of taking up a directorship at the London School of Economics, according to a statement from the UK central bank on September 12. The job of finding her successor now falls to the UK Treasury – led by Chancellor of the Exchequer Philip Hammond since July 13 – and the Bank of England said the role would be advertised in due course. Shafik joined the central bank as deputy governor for markets and banking in August 2014 and is also a member of the central bank’s Monetary Policy Committee, the Financial Policy Committee, the board of the Prudential Regulation Authority and the Bank’s Court of Directors. Her appointment had been due to run until July 31, 2019, according to the Bank of England’s website.
BNP Paribas Investment Partners hires former Deutsche Germany chief
The former Germany chief of Deutsche Bank’s funds arm is to re-emerge in a top sales role at BNP Paribas Investment Partners. Investment veteran James Dilworth, who was Germany head at Deutsche’s asset and wealth management business and also led active asset management globally, began his new London-based role as global head of sales at the €532 billion French manager on September 12. He reports to Frédéric Janbon, chief executive of BNP Paribas Investment Partners, and sits on the executive committee, the firm confirmed in a statement on September 9. Dilworth will be responsible for developing BNP Paribas Investment Partners’ institutional and retail business, as well as its distribution networks. His time at Deutsche was relatively short-lived – he left in February 2016, a little more than a year after joining. Before that, he was Europe chief executive at Allianz Global Investors from 2011.
Carlyle taps CPPIB executive to run credit investing operations
Carlyle Group has hired a senior executive from Canada’s biggest pension fund to oversee debt investing. Washington, DC-based Carlyle tapped Mark Jenkins, most recently head of global private investments at Canada Pension Plan Investment Board, for the newly created position, according to a statement. Jenkins is focused on the unit’s credit investing, which includes energy lending, providing capital to mid-sized companies and bets on distressed debt.
Citi fintech acceleration head departs
The Citigroup executive who spearheaded the creation of the US bank’s global competition for software developers and accelerated its fintech innovation efforts has left the bank. Jorge Ruiz, a managing director based in Miami and global digital acceleration head, left the US bank in September to launch his own venture. Ruiz, who joined Citi nearly two decades ago, was also its business development and digital banking head for Latin America until early 2015. In his fintech role at Citi, Ruiz helped define and implement a global strategy to speed up digital innovation and create a new digital business model. His new company, called above & beyond, will help local and regional financial institutions take advantage of the opportunities presented by digital technologies and better integrate with the fintech ecosystem.
Eight Roads lands Virgin CFO
Eight Roads, the Fidelity-owned proprietary investment firm, has appointed a new chief operating officer, the investment house said in a statement. John Patrick Moorhead, who has been the chief financial officer of Richard Branson’s Virgin Group since 2011, joins the firm. Moorhead began his career at Goldman Sachs before joining Virgin as a portfolio manager in 2011. The Prince’s Trust CFO Amy Stirling replaces Moorhead at Virgin.
Gemcorp recruits Costa to chair advisory board
An emerging markets-focused investment firm set up two years ago by a former Goldman Sachs partner has recruited a veteran dealmaker who has run M&A at UBS and chaired Lazard International during a City career spanning some 40 years to chair its new advisory board. Ken Costa, who was chairman of Lazard International between 2007 and 2011, and before that spent 30 years at UBS, where his roles included global head of M&A, will chair Gemcorp Capital’s independent advisory board, according to a statement from the firm on September 13. Gemcorp was established in September 2014 by its chief executive Atanas Bostandjiev, a former Goldman Sachs partner who left in September 2010 and went on to become the UK and international chief executive of VTB Capital.
HSBC’s Lake quits months after overhaul
HSBC veteran Spencer Lake is to leave the bank, months after the capital financing team he led was merged into a new global banking unit, with Lake named global banking and markets vice-chairman. Staff were told about Lake’s decision on September 12 in an internal memo seen by Financial News and signed by Samir Assaf, HSBC’s chief executive for global banking and markets. The memo did not say where Lake is going or if he will be replaced. Lake was HSBC’s global head of capital financing, the bank’s origination business, from August 2013 until February this year, when he was put into the vice-chairman role following an overhaul that saw the bank combine its financing and client coverage teams into a single new-look global banking business. HSBC hired Goldman Sachs banker Matthew Westerman to co-run it alongside another long-standing HSBC executive, Robin Phillips.
Icap grabs senior exec ahead of Tullett deal
Icap has looked within its own ranks for the new chief executive of its foreign exchange and fixed income electronic trading business, handing the role to a top executive at its voice division, which is being sold to Tullett Prebon. Seth Johnson will become CEO of EBS BrokerTec, the firm said in a September 9 statement, succeeding Gil Mandelzis, whose intention to leave the company was announced in July. Johnson had been the CEO of BrokerTec before it was merged with EBS in December 2014 and is credited with expanding Icap’s electronic markets product portfolio. He went on to become the head of strategy for Icap’s voice broking arm, which Tullett Prebon is on the verge of acquiring.
JLT names head of M&A in Germany
The insurance and reinsurance broker Jardine Lloyd Thompson has hired a German lawyer to its new Frankfurt office, expanding its M&A insurance offering. M&A insurance is an indemnity policy companies can buy to protect them if a deal goes wrong post-acquisition. Jens Kellerhoff becomes head of M&A, Germany, at JLT. Kellerhoff began his legal career at Clifford Chance in Frankfurt, before embarking on a career as an in-house counsel. His previous role was as general counsel at German technology firm Brainloop.
JO Hambro recruits former Barings investment chief as CEO
The former chief investment officer of Baring Asset Management has been recruited to run Australian-owned equity manager JO Hambro Capital Management. Ken Lambden, who for 10 years was global head of equities at Schroders, will become group chief executive at JO Hambro, according to a statement from the £21.7 billion fund manager on September 14. Lambden left Barings in May following a shake-up of the investment house’s senior management. JO Hambro’s incumbent group chief executive Gavin Rochussen moves internally to become group executive, international – a role that is focused on expanding JO Hambro’s business in the US and Asia, the statement said. The handover will take place on October 3, with Rochussen maintaining his seat on the BTIM Group executive committee.
Kames adds another Standard Life bond manager
Kames Capital has added to its high-yield bond team, with an investment manager joining from Standard Life Investment Management, according to a statement by the firm. Jack Holmes follows David Ennett from the asset management arm of Standard Life to Kames. Holmes will report to Ennett, who switched to Kames last month. At Standard Life, Holmes was a fixed income analyst, looking at industrials, recycling and oil and gas services.
LGIM hands ex-JP Morgan veteran senior DC pensions role
Legal & General Investment Management has brought in a funds industry veteran who spent more than a decade at JP Morgan before leaving this year, to fill a senior role in its own fast-growing DC business. Simon Chinnery has joined LGIM as head of DC client solutions, according to a September 13 statement. It is a new role at the fund manager. Chinnery has 30 years of asset management experience, having worked at firms including Gartmore, Schroders and, most recently, JP Morgan Asset Management, where he spent 11 years and was head of the UK DC business before stepping down. At LGIM, he reports to Chris DeMarco, head of institutional client management and strategy, and DC chief Emma Douglas, who took the reins of the firm’s overall DC team – another newly created role – in August.
Post-Quantum hires former Thomson Reuters chief
Tom Glocer, who stepped down as CEO of Thomson Reuters in 2012, has become an adviser to Post-Quantum, which also develops technology to help investment banks protect against cyberattacks. The appointment, confirmed in a September 14 statement, follows Glocer’s investment in the company in 2015. At PQ, Glocer will sit on an advisory board that includes Brian Snow, former technical director of the US National Security Agency, and Rebecca Bace, a one-time research leader at the NSA. According to PQ’s website, its clients include Nato and the UK government.
River and Mercantile Group recruits THS director
Fund manager and investment consultancy River and Mercantile Group has appointed an executive from Taube Hodson Stonex Partners to support the expansion of its equity advisory business. Gary Dowsett joins River and Mercantile as a global analyst, having worked at THS since 2009, where he was an investment service director. He has also worked at UBS Global Asset Management, Towers Watson and Schroders during his 30-year career.
Stonehage Fleming hires ex-Neptune business development executive
One of the world’s largest family offices has appointed a new business development director to lead its sales effort. In a statement, Stonehage Fleming said it had appointed former Neptune Investment Management executive Ian Harvey to the role, which sees him tasked with taking the family office’s global equity strategy to institutional clients. Harvey, who has 30 years of investment experience, led Neptune’s UK wholesale asset management business from 2012 to 2015.
UBP swoops on M&G fund manager
The Swiss private bank Union Bancaire Privée has hired an equity fund manager from M&G Investments, according to a statement from the firm. Charles Anniss joins UBP’s European equities team, managing a portfolio of small and mid-cap stocks. At M&G, Anniss ran the European Select fund and European Smaller Companies fund and had worked at the UK asset manager for 16 years. He is tasked with developing a small and mid-cap investment strategy for UBP. The bank held Sfr113.5 billion in assets as of June 30.