People: HSBC, Northern Trust and RBC ITS hire to securities lending

Isla says on-loan balances up 8% to €1.8 trillion in six months to end-June

In a possible sign of a recovering securities lending market, key players have made new hires to their teams. The International Securities Lending Association in its latest lending report says as at June 30, 2015 there were more than €1.8 trillion ($1.9 trillion) of securities on loan globally drawn from an available lending pool of just under €14 trillion. This compares with circa €1.7 trillion and €12 trillion respectively as at December 30, 2014 and reflects an 8% increase in on-loan balances during the period.

 

RBC Investor & Treasury Services (ITS) has appointed Don D’Eramo as managing director, head of distribution and product development, securities finance, for its treasury and market services activity. He is based in Toronto and reports to Kelly Bateman, global head of securities finance. D’Eramo was most recently head of securities finance for Europe, the Middle East and Africa (Emea) at State Street. RBC ITS also appointed Matthieu Herbeau as managing director, global head of foreign exchange execution. London-based Herbeau reports locally to Elaine Skinner-Reid, head of Europe and Asia-Pacific, Treasury & Market Services. Over the past 15 years, Herbeau progressed through various senior roles with BNP Paribas Securities Services, where he was most recently global head of FX.

 

Northern Trust announced a series of appointments within its global capital markets business. Sunil Daswani has been appointed to the newly created role of head of international securities lending across Emea and Asia-Pacific. Daswani joined Northern Trust in 2002 and has held a number of roles based in London and Hong Kong, most recently as head of client service and sales for the capital markets group in Emea and Asia-Pacific. In addition to his new responsibilities, Daswani maintains oversight of Northern Trust’s transition management sales and relationship management teams across Emea and Asia-Pacific. Reporting to Daswani are Hong Kong-based Dane Fannin and Mark Snowdon in Singapore. They assume the newly created roles of head of securities lending, Asia-Pacific, and head of the capital markets client servicing team in Asia-Pacific, respectively. Northern Trust has also appointed Ali Sheikh as head of hedge fund services, Asia-Pacific. Based in Hong Kong, Sheikh reports to Peter Sanchez, global head of Northern Trust Hedge Fund Services. Sheikh joined Northern Trust in 2011 as a part of its acquisition of Omnium from Citadel, where he began working in 2008. Most recently, Sheikh was a senior relationship manager for Northern Trust’s hedge fund services Business in New York. Meanwhile, in Melbourne, Northern Trust has named Madeleine Senior as head of Australia and New Zealand, replacing Rohan Singh who will return to Northern Trust’s Singapore office as head of Singapore and south-east Asia. Senior will report to William Mak, head of Asia-Pacific for Northern Trust. Most recently, Senior was head of business development for Northern Trust’s asset servicing business in Europe, Middle East and Africa.

 

HSBC Securities Services has appointed Rafael Moral Santiago as head of securities services, Europe. Santiago joins from Deutsche Bank, where he was global head of investor services and led Deutsche Bank’s custody and clearing, fund services and agency securities lending businesses. Prior to this role, he established Deutsche Bank’s transaction banking strategy and business development function globally. Santiago reports to Cian Burke, global head of securities services and will be based in London.

 

BNY Mellon has promoted Mariano Giralt to head of global tax services, based in London. Previously he was head of tax services for Emea. Giralt will continue to report to Dan Kramer, head of global fund accounting and issuer client service-delivery. “When Mariano joined BNY Mellon’s tax services team four years ago he was a team of one, now we have 12 people in our tax Services team,” says Kramer.

 

Franck Dubois has been appointed head of BNP Paribas Securities Services France. He reports to José Placido, global head of client development and strategy. Dubois joined BNP Paribas in 1993. Since 2010, he has been global head of operations for BNP Paribas Securities Services’ asset and fund services division. In addition, Mark Hillman has been named head of global client services, a newly created role. Hillman will lead the bank’s local client services teams around the world. He was previously responsible for marketing and communications at BNP Paribas Securities Services. Franck Lambert has been appointed to succeed him in that role.

 

Citi has made a number of strategic hires to its investor services franchise in Emea. Simon Kempton joins as Emea head of prime finance. He will report to Chris Cox, Emea head of investor services, and Adam Herrmann, who joined Citi from UBS earlier this year as global head of prime finance. Daniel Caplan joins as Emea head of investor services sales. He will report to Alan Pace, global head of sales for investor services, and Murray Roos who joined Citi earlier this year in the newly created role of global head of sales for equities and prime finance. Kempton joins from Deutsche Bank where he was head of international prime brokerage. Caplan brings more than 15 years of industry experience and was most recently Deutsche Bank’s European head of global prime finance. Citi has also hired Adnan Choudhary as a project manager within the transition management team for Emea. He joins from State Street where he worked as a transition manager for more than seven years.

Citi has also made hires in Asia-Pacific, naming David Ratliff Asia-Pacific head of public sector banking in a newly created role, reporting to Mark Slaughter, head of corporate and investment banking Asia-Pacific, and Julie Monaco, global head of Citi’s public sector group. Additionally, Citi has appointed George Hindmarsh as Asia-Pacific head of intermediaries client coverage. Based in Singapore, Hindmarsh is responsible for the origination and relationship management across banks, broker-dealers, global custodians and other intermediaries for Citi’s direct custody and clearing business in the region. Hindmarsh joins from Northern Trust, where he was head of Asia-Pacific business development.

 

Societe Generale Securities Services (SGSS) has appointed Frédéric Barroyer as chief executive and country head of SGSS in Italy. Based in Milan, he reports to Bruno Prigent, global head of SGSS. Barroyer replaces Jeanne Duvoux who is moving to a new role within Societe Generale. Barroyer had been deputy head of SGSS in Italy since September 2014.

 

Megan Butler has joined the UK Financial Conduct Authority (FCA) on secondment from the Prudential Regulation Authority (PRA) to take the role of director of supervision for investment, wholesale and specialists. Formerly executive director of international banks directorate at the PRA, she will be with the FCA for a year and takes over from Tracey McDermott who steps up to acting chief executive of the FCA following the departure of Martin Wheatley.

 

SS&C Technologies, a provider of financial services software and software-enabled services, has announced the leadership team for its recently acquired Advent Software business unit. Pete Hess, who has served as Advent’s president and chief executive, will lead SS&C’s Advent business unit as senior vice-president and general manager. He will oversee the establishment of two distinct market-facing teams within Advent to address key client segments. The advisory market group will be responsible for serving clients and growing the business within the wealth management and investment adviser market. The group will be led by Dave Welling, formerly general manager of Advent’s Black Diamond business group, reporting to Hess. The asset management and alternatives market group, led by Hess, will focus on delivering solutions for traditional and alternative asset management markets. SS&C Technologies also appointed Smita Conjeevaram to its board of directors. In her most recent operational role, she served as chief financial officer of the credit hedge funds of Fortress Investment Group. Conjeevaram replaces Allan Holt who has retired.

 

The Depository Trust & Clearing Corporation (DTCC) has appointed Mark Wetjen, a former Commissioner at the US Commodity Futures Trading Commission, as managing director with responsibility for leading the firm’s global public policy function and related business and legal activities. Wetjen is based in Washington, DC. He reports to Larry Thompson, vice-chairman of DTCC and general counsel. In Europe and Asia, Wetjen will work in partnership with Andrew Douglas, chief executive of DTCC’s European Trade Repository, on outreach to policy-makers in the region. The DTCC has also hired Stephen Scharf to the newly created position of chief security officer, based in New York. The appointment will centralise and align the firm’s global information security, physical security, employee safety, and crisis/incident management functions. Scharf joins from Experian where he served as global chief information security officer. With this appointment, Mark Clancy steps down as DTCC’s chief information security officer to assume his current full-time position as chief executive of Soltra, a DTCC & Financial Services Information Sharing and Analysis Center joint venture.

 

JTC Luxembourg has bolstered its senior management team with the appointments of Christophe Lentschat and Jorge Fernandes, who will take on responsibility as co-managing directors for its range of fund administration, corporate and real estate services in the jurisdiction. Lentschat joins from the Luxembourg office of Apex Fund Services, where he was managing director. Fernandes has specific expertise in the investment funds sector gained over a career spanning more than 25 years.

 

Custom House Fund Services has appointed Richard Hale as director, business development UK, based in the newly established London office. Hale joins from Royal Bank of Canada, where he was most recently head of business development for the RBCIS Global Fund Platform.

 

Maples Fund Services has opened an office in San Francisco, hiring Greg Knapp as senior vice-president, client solutions and relationship management, to lead the firm’s efforts on the west coast.

 

Clearstream Banking has appointed Berthold Kracke as its new chief executive, succeeding Stefan Lepp, who has decided, for personal reasons, to leave the company. The executive board of Clearstream Banking now consists of Kracke, Martina Gruber and Mathias Papenfuss. Kracke joined Clearstream in 1998 and has assumed different management responsibilities in the company, primarily in operational areas. Jeffrey Tessler, member of Deutsche Börse’s executive board and responsible for Clearstream, says: “We regret the departure of Stefan Lepp, who has done an excellent job for Clearstream… Stefan made a major contribution to the development and success of the company, and we wish him all the best for the future.”

 

Maitland, the global advisory and administration firm, has made four appointments to its global business development and client management team. Luke Spencer-Wilson has been named as senior business development manager, London. He joins from HSBC where he was director of sales for asset managers and alternative investment managers. He will report to Patric Foley-Brickley. Pedro Hilton Olmo is appointed client services manager, Latin America. Olmo is an attorney and joins Maitland from the Turim family office in Brazil. Bill Henderson joins as senior business development manager, New York, from hedge fund administration firm Butterfield Fulcrum, where he led global sales efforts. He reports to Scott Price. Charles Romilly has been appointed business development adviser, London. He has more than 25 years’ experience in financial services and reports to Foley-Brickley.

 

Katja Müller has taken over management of sales and relationship management at Universal-Investment. Müller previously managed the private label fund business with fund initiators, independent asset managers and international asset managers. In her new role she will report directly to spokesman of the management board Bernd Vorbeck.

 

NZ Super Fund chief executive Adrian Orr has been appointed chair of the International Forum of Sovereign Wealth Funds (IFSWF). The appointment, which is unpaid, is for a three-year term. Orr, who was previously IFSWF deputy chair, will undertake his new responsibilities alongside his fund chief executive role.

 

Christoph Landis has been appointed division chief executive of Six Swiss Exchange. Landis has led Six Swiss Exchange on an interim basis since May 2015. He was appointed to the management committee of Six Swiss Exchange, then SWX, in 2003 and has been responsible for the operations unit since 2010, becoming deputy division chief executive in 2012.

 

MUFG Fund Services has appointed Tim Thornton as chief operating officer, succeeding Ken McCarney who has been promoted to chief executive. Working from offices in London, New York, Dublin and Ontario, Thornton will identify and mentor the next layer of management and will retain his current responsibilities as chief data officer.

 

Elian has appointed Kerstin Lindgren to its funds depository team, to develop its depository services offering for alternative investment funds in Luxembourg. Before joining Elian she was head of custody services at SEB.

 

UK independent depository Indos Financial has added to its team with the appointment of Andrew Watson, a chartered accountant with more than 14 years’ experience. Based in London, he will manage the firm’s private equity and real estate depository business. He moves from Heritage where he was initially a senior fund accountant before becoming senior depository officer.

 

Heritage International Fund Managers, a fund administration business, has promoted associate directors Kevin Smith, James Christie and Mariana Enevoldsen to the board. Smith joined the firm in 2006, Christie in 2011 and Enevoldsen in 2013.

 

Allfunds Bank, Europe’s largest open architecture mutual fund platform, is opening a representative office in Bogotá, Colombia with Carlos Felipe Stozitzky appointed its director. Based in Santiago, Chile, he has been regional manager for the region for the past two years. Allfunds has also appointed Ugo Sansone to head its business in Luxembourg. Sansone joins from Intesa Sanpaolo Group, where he led the international commercial activities of its asset management affiliate, Eurizon Capital.

 

Global Prime Partners has appointed Tom Wooders as head of sales, broker-dealers and intermediaries. Wooders will be responsible for growing the company’s international clearing and custody services. Prior to joining Global Prime Partners, Wooders held frontline sales roles at JP Morgan, BNY Mellon Pershing, State Street and Broadridge.

 

Law firm Ogier has appointed Kate Hodson and Anthony Oakes to its Hong Kong team. Hodson is part of Ogier’s Hong Kong funds practice and in her new role will focus on strengthening Ogier’s private equity capabilities in Asia, as well as specialising in advising on unit trust structures in the Japanese market. Anthony Oakes is spearheading Ogier’s finance practice in Asia. He specialises in banking, capital markets, corporate and commercial transactions and structured finance, as well as non-contentious restructuring/insolvency. Ogier has also appointed Bryon Rees as a partner in its funds and corporate practice in Guernsey.

 

UK-based Vistra has announced the appointment of Barry Gowdy as director. Gowdy joins Vistra, a fund services and solutions provider, from RBC Wealth Management, where he was responsible for the firm’s UK property trust clients.

 

The Board of Guernsey Finance has appointed Lyndon Trott as its chairman. Trott replaced Jim Gilligan, who is retiring as chairman having held the position since 2006. Elected as Guernsey’s first Treasury Minister in 2004, Trott became the jurisdiction’s youngest and longest-serving chief minister from 2008-12. He has combined his 16-year political career with 30 years in the financial services sector.

 

Arthur Bell CPAs, a professional services firm dedicated to servicing the alternative investment industry, has formed Arthur Bell Ltd, based in Ireland. This expansion follows the opening of an Arthur Bell office in New York in May 2015. Arthur Bell Ltd will be managed by Michael Minehane, partner.