People: Credit Suisse hires in equities, reshuffles senior management

Deutsche's Hrvatin joins Citi; new macro trading head for Barclays; and more

Michael Ebert has joined Credit Suisse as global head of equity derivatives. Ebert will be based in New York, reporting to Mike Stewart, global head of equities, and Yves Alain Sommerhalder.

Ebert started his career at Goldman Sachs and most recently served as head of Americas equity derivatives at Bank of America Merrill Lynch.

Separately, the bank has reshuffled its senior management, naming Mathew Cestar and Jens Welter as co-heads of investment banking and capital markets for Europe, Middle East and Africa.

Cestar will remain as chair of the London-based global credit products committee and will manage the bank’s underwriting activity. Welter continues serving as co-head of the global consumer products and retail group.

Both will be based in London, reporting to Jim Amine, chief executive of investment banking and capital markets.

Cestar relinquishes his role as co-head of global credit products for Emea, leaving Jonathan Moore, the other co-head, in sole charge. Moore, who reports to global head of credit products David Miller, joined Credit Suisse in 2001 and was appointed head of Emea credit trading in 2010, before taking on the credit products role in 2015.

Moore’s expanded role will cover global credit products and securitised products in the Emea region, remote booking of global markets credit, and management of key accounts within the global markets division.

The Emea global credit products team has undergone further changes. Chris Orr becomes head of European investment-grade and emerging markets, having previously served as co-head of Emea investment-grade trading.

Orr, who joined Credit Suisse in 2007 after seven years at RBC, will assume responsibility for sales and sector strategy in addition to trading. His previous co-head of Emea investment-grade trading, Jonathan Fletcher, is now sole head, reporting to Orr.

Simon Russell will add emerging markets sales to his remit as head of investment-grade sales, reporting to Orr. Russell will also report to Moore.

Moore, Orr, Fletcher and Russell are based in London.

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Deutsche Bank’s former head of operational risk management for the Americas, Deborah Hrvatin, has joined Citi as global head of op risk management for its institutional clients group.

She will report to Beth Rudofker, Citi’s global head of operational risk management, and Senthil Kumar, chief risk officer for the institutional clients group.

Deborah Hrvatin

Hrvatin started working at Deutsche in New York in 1999. She held a number of senior roles, including chief operating officer for group technology and operations.

Before that, she was head of operational risk management within Deutsche’s corporate and banking securities arm, responsible for developing and implementing its op risk management, supervision and information security framework. She previously held a number of other senior roles with the bank, including chief operating officer of its global securitisation group.

Prior to Deutsche Bank, Hrvatin worked at Bankers Trust as an equities controller, and also as a commissioned bank examiner with the Federal Reserve Bank of New York.

Elsewhere, Citi has appointed Jason Massey as head of sales for futures, clearing and collateral for Europe, Middle East and Africa. He joins from Morgan Stanley, where he was most executive director specialising in listed derivatives sales for Europe.

At Citi, Massey will work alongside Chris Stone, Emea head of sales for futures execution, and Sabrina Wilson, recently hired as global head of electronic and algorithmic trading for listed derivatives, and Emea head of futures, clearing and collateral. Wilson previously worked for Deutsche Bank.

Massey will report to Danny Caplan, Emea head of sales for prime, futures and securities services. He will be based in London.

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Barclays has hired Michael Lublinsky as head of UK macro trading, effective from November. He will be based in New York, reporting to Tim Throsby, chief executive of the corporate and investment bank. Lublinsky previously worked for Brevan Howard, overseeing its fixed-income trading in the Americas, and prior to joining the hedge fund in August 2015, he was global trading head at Royal Bank of Scotland.

Lublinsky becomes one of four global trading heads, alongside Stephen Dainton, who joined from Credit Suisse as global head of equities at the start of September, Adeel Khan, head of credit trading, who will become global head of credit, and a yet-to-be-appointed global head of sales.

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David Peniket is retiring as president of London-based global futures and options exchange Ice Futures Europe. Peniket, who joined in 2002, will be replaced by Stuart
Williams, who has been chief operating officer since July 2016.

Ice has also hired Timothy Bowler as president of Ice benchmark administration, which manages fixings such as Libor and Ice Swap Rate.

Bowler was previously director in the financial institutions group at Goldman Sachs. Prior to that, he spent four years at the US Treasury, most recently serving as counsellor to Treasury secretary Jack Lew.

Bowler will replace Finbarr Hutcheson, current president of benchmark administration, who shifts across to head of Ice Clear Europe, Ice’s London-based clearing house.

Hutcheson’s new role was confirmed earlier this year after Paul Swann, current head of the clearing house, announced his retirement. Hutcheson has worked as co-chief executive of NYSE Liffe, which was acquired by Ice as part of NYSE Euronext. Before that, he spent 15 years at Goldman Sachs.

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JP Morgan has promoted Lori Beer to global chief information officer and made her a member of the firm’s operating committee.

Beer had served as chief information officer for JP Morgan’s corporate and investment bank. She has been replaced by Michael Grimaldi, who joined JP Morgan from Deutsche Bank in August.

Beer reports to Daniel Pinto, chief executive of JP Morgan’s corporate and investment bank, and Gordon Smith, chief executive of consumer banking. She will be based in New York.

Separately, JP Morgan’s wealth management arm has hired Richard Gordon to a newly created role of global head of custody and fund services operations, based in London.

Gordon spent the past four years at Citi, as global head of securities services operations, supporting the global and direct custody, funds, prime finance and futures clearing businesses.

Gordon will report to Lawrence Waller, head of corporate and investment bank operations in Emea, and Teresa Heitsenrether, global head of custody and fund services.

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Claudia Rola has joined Deutsche Bank as global head of valuation models and methodologies. She replaces Andrew Lyon, former global head of methodology for the global valuation group, who left to join Citi in July.

Rola previously spent seven years at UBS, most recently as managing director and valuations specialist, overseeing regulatory relations and strategic initiatives. Prior to that she was global head of valuation methodologies.

Rola joined UBS from Morgan Stanley, where she held various senior risk roles, such as global head of the equity validation review group.  

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The Securities and Exchange Commission (SEC) has named Jeffrey Harris as director of the division of economic and risk analysis. His predecessor, Mark Flannery, left to pursue teaching.

Harris will be in charge of the division’s team of economists, involved across a range of SEC activities such as policy, rulemaking, enforcement and examination.

Jeffrey Harris

Harris, currently a professor at the Kogod School of Business at American University in Washington, DC, recently served as chief economist at the Commodity Futures Trading Commission, having previously worked as visiting academic at the Nasdaq stock exchange and at the SEC.

In a related move, Brian Bussey is to join the Commodity Futures Trading Commission as head of the clearing and risk division.

Bussey moves across from the SEC, where he was associate director for derivatives policy and trading practices, within the trading and markets division. The unit he will direct oversees derivatives clearing organisations, futures commission merchants, swap dealers, major swap participants and large traders.

Acting head of the SEC’s clearing and risk division, John Lawton, now becomes special adviser to Bussey.

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BNY Mellon has appointed James Taylor as head of forex electronic markets sales.

Taylor, who has worked in electronic trading for almost 20 years, joins from JP Morgan, where he spent eight years in a number of interest rate and forex roles, most recently working as head of fixed-income market structure.

Based in London, he reports to Oliver Martines, global head of forex sales.

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UBS has hired Peter Sheridan as head of electronic trading distribution in the Americas. He joins from Goldman Sachs, where he was most recently head of US algorithmic trading, sales and coverage.

Sheridan, who spent 12 years at Goldman, after joining from Morgan Stanley, reports to Todd Lopez, global head of quant solutions and head of electronic trading, Americas.

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Savady Yem has joined Standard Chartered as global head of private side sales in Singapore. He previously worked as head of fixed-income sales for Asia at Credit Suisse.

Yem spent 16 years working at the Swiss bank. During his tenure, he held a number of senior roles, including head of structured derivative sales for Emea in London, and head of France and Benelux fixed-income derivative sales. He joined Credit Suisse in 2001 after 12 years at JP Morgan.

Yem reports to Kevin Burke, global head of financial markets sales.