People: All fall in at Citi, TD turbulence, and more

Latest job changes across the industry

Citi starts the fourth quarter with a slew of hires across foreign exchange markets. Gordon Craib joins as a director and senior bookrunner for the firm’s euro FX options trading desk in London, reports sister site FX Markets, while Tony Wang joins as a vice-president in US dollar/Asian-denominated FX options trading, based in Singapore. Both arrive from Barclays, where Craib worked for nearly a decade, most recently as a director in the FX options trading business, and Wang for over seven years.

Citi Singapore

To further bolster its FX presence, the bank has appointed Anand Goyal as head of FX institutional sales for Asia South, Japan, Asia North and Australia. Goyal joins from JP Morgan, where he was head of MacroX and real money sales for the Asia-Pacific region from 2019. Working closely with Citi’s rates business, he will be responsible for developing the firm’s distribution efforts for financial institutional clients in FX. He is due to start in December, and is based in Singapore.

The bank also announced the appointment of Tokiya Kishie as head of markets for Japan. He will report to Paul Smith, head of markets for Japan, Asia North and Australia, and Robert Nakamura, Citi country officer and banking head for Japan.

In December, the bank expects Hooi Wan Ng to join as head of markets for Malaysia – subject to local regulatory approvals. Ng has over 24 years of financial services experience in Malaysia, most recently as head of local corporate sales and private side sales at JP Morgan. She will report to Sue Lee, head of markets for Asia South, and Vikram Singh, Citi country officer and banking head for Malaysia.

Chris Morin

Elsewhere, Chris Morin has joined fund services at Citi Securities Services as global head of middle office and performance. The hire was outlined in an internal memo seen by Risk.net, which cites a rising demand for middle office outsourcing. 

The appointment is part of a broader strategy to expand Citi’s securities services business and capture more market share among asset managers. Earlier this year, the bank also hired John Miller as global head of fund accounting and administration. Both report to global head of fund services Mike Hughes. Morin was previously head of middle-office products for the Americas and global head of complex assets at JP Morgan.

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Francisco Oliveira

Geraint Roberts

Francisco Oliveira, global co-head of global macro and credit at BNP Paribas, has left after more than 20 years, according to a statement from the bank. His departure follows the firm’s recent decision to consolidate its fixed income divisions into one global business line for fixed income, currencies and commodities (Ficc).

His counterpart, Arne Groes, has been appointed global head of Ficc, to lead the consolidated business.

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Josh Schiffrin, global head of trading strategy at Goldman Sachs, has been promoted to chief strategy officer and head of financial risk for global banking and markets, as first reported by Risk.net. The new role expands his current responsibilities to include oversight of the financial risk, Ficc, prime risk strats and strategy, investments and partnerships teams.

Schiffrin joined Goldman in 2001 as an analyst and became a partner in 2021. He was appointed global head of trading strategy in November 2023.

Elsewhere at the bank, Melissa Goldman has rejoined as global head of technology engineering for global banking and markets (GBM), based in New York. She will work with teams across GBM and core engineering to lead the firm’s engineering strategy and ensure internal engineering solutions comply with risk management standards.

She rejoins from Google, where she was global head of corporate engineering, and had previously spent eight years at JP Morgan, most recently as chief information officer for corporate technology and chief data officer. Her career began as an analyst at her namesake firm, where she worked for 20 years in multiple leadership roles, managing tech teams across market, credit and liquidity risk, among others. She rejoins as a partner of the firm.

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Toronto-Dominion Bank’s leadership reshuffle continues, as the bank battles to transform its culture after a turbulent year, marked by a record US$3 billion regulatory fine for anti-money laundering monitoring failures.

Raymond Chun, group head of TD Bank’s Canadian personal banking, becomes chief operating officer as of today (November 1), and has been appointed to the board of directors. He is expected to succeed current chief executive officer Bharat Masrani when the latter steps down at the bank’s next annual shareholder meeting on April 10, 2025.

Sona Mehta, executive vice-president of real estate secured lending, everyday banking, savings and investing, has been appointed to succeed Chun as group head of Canadian personal banking.

Bharat Masrani

Riaz Ahmed, group head of wholesale banking and president and chief executive of TD Securities, will retire at the end of January 2025.

Tim Wiggan, group head of wealth management and insurance, is appointed to succeed Ahmed as group head of wholesale banking and president of TD Securities. Paul Clark, executive vice-president of private wealth management and financial planning, is meanwhile promoted to senior vice-president of wealth management.

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Kristin Milchanowski has joined Bank of Montreal as its new chief artificial intelligence (AI) and data officer in a push to advance the firm’s digital transformation and build on its investment in AI. She oversees BMO’s AI, data, analytics and robotics strategies and is responsible for data management and governance across the organisation.

Before joining the bank, Milchanowski was a global innovation partner and principal at EY for seven years, where she focused on high-performance computing and quantum technologies. She previously served as chief data scientist of the legal and compliance division at Morgan Stanley and head of technology and model management at JP Morgan, according to her LinkedIn profile.

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John Tierney has been named CEO of Nomura Europe Holdings and Nomura International, subject to regulatory approval. He has been with the firm since 2002, most recently as chief operating officer for the two Nomura divisions. During his tenure, Tierney has held several senior positions, including chief financial officer for Asia ex-Japan, CFO for Europe, the Middle East and Africa, and chief financial and administrative officer for Emea. He replaces Jonathan Lewis, who stepped down as head of Europe and chief transformation officer in March.

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Philippa Milner-Jones

Philippa Milner-Jones has joined risk management consultancy 4most as a client partner in the London office. She joins from Lloyds Banking Group, where she most recently served as director of decision science, overseeing the development and management of the bank’s credit risk scorecards and regulatory models. Prior to this, she was head of decision science at Barclays, specialising in risk, credit risk and modelling.

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Linklaters has snaffled a high-profile finance team from rival firm Allen & Overy with the group move of David Lucking, John Hwang, Derek Poon and Dan Guyder. The four bring significant derivatives, securitisation and restructuring expertise, and are set to join the firm’s finance division as partners in the New York office. Their arrival builds on other recent high-profile partner hires for Linklaters in the US, including a mergers and acquisitions team.

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Johnbull Okpara, Citi’s former chief accounting officer, has joined Bank of America, replacing long-serving accounting chief Rudolf Bless, according to a memo seen by Risk.net. Okpara has held senior roles at a number of banks, including Morgan Stanley, Capital One and American Express.

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Mukunth Raghavan has been appointed head of American Treasury quants at Citadel. Based in New York, he works across Citadel Asset Management and Citadel Securities. Raghavan joins from Goldman Sachs, where he was vice-president in the bank’s global equities team, developing analytical tools, trading strategies and optimisation models.

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The Managed Funds Association has appointed Jody Gunderson, managing principal of AB CarVal, as its new board chair for the 2025 fiscal year. Gunderson, who served as a board member from 2020 to 2024, takes over from Natalie Birrell, president and partner of Anchorage Capital Group. Gunderson will serve a two-year term, while David Zirin, chief operating officer of Pentwater Capital Management, continues as vice-chair.

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John Cotter has joined Carne Group as chief financial officer. He joins from Wells Fargo Bank International, where he spent nearly four years as CFO. He previously served as finance director and later chief executive of IFG Group. His career also includes senior positions at Collins Stewart Hawkpoint, Royal Bank of Scotland and Morgan Stanley.

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Igor Zelenberg has been appointed to XTX Markets, focusing on expanding the firm’s exchange-traded fund (ETF) efforts, based in New York. Before joining, he had experience in ETF trading at Goldman Sachs, Getco/KCG, Hudson River Tradingand XR Trading.

Editing by Louise Marshall