People: SocGen’s Farah replaces Salorio, Deutsche makes credit hire, and more

Latest job changes across the industry

Fouad Farah

Societe Generale has promoted Fouad Farah to head global banking and advisory, effective August 1. He replaces Demetrio Salorio, the bank’s long-time head of debt capital markets, who has left to pursue other opportunities after only a year in the role. Farah had been serving as head of global markets at Societe Generale’s Americas subsidiary since 2023, before which he had been head of fixed income from 2022. He will report to co-heads of global banking and investor solutions Anne-Christine Champion and Alexandre Fleury.

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Risk.net understands that Dan Rossi has joined Deutsche Bank as a director on the investment-grade credit team, based in New York. According to his LinkedIn profile, Rossi previously spent two years at UBS as an executive director and credit trader, and before that was director of credit trading at Societe Generale from 2018. Deutsche Bank declined to comment on Rossi’s appointment.

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Georges Elhedery

HSBC has announced the appointment of Georges Elhedery as its new chief executive officer (CEO), effective September 2. He will replace Noel Quinn, who is retiring after serving in the role since August 2019. Elhedery joined HSBC in 2005, and has held the role of chief financial officer (CFO) since 2023. He will be replaced as CFO on an interim basis by Jonathan Bingham while a permanent successor is sought.

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There have been more top-down changes for the recently rescued New York Community Bank, which has added nine new members to the senior leadership team of subsidiary Flagstar Bank in the past month. Among them, Richard Raffetto and Kris Gagnon become senior vice-presidents (SVPs) – Raffetto as president of commercial and private banking, following four years as president of City National Bank. Gagnon takes on the role of chief credit officer, a position he also held in his most recent roles at Banc of California and CIT Bank.

Don Howard becomes director of regulatory governance, risk and controls. He joins from Citi, where he was a managing director (MD) leading on governance, risk and compliance. All three report directly to chief executive officer Joseph Otting.

William Fitzgerald’s appointment to head of workout-commercial will see him managing the restructuring and renegotiation of defaulting loans. Fitzgerald has experience in this area, particularly with commercial real estate. Most recently, he was head of commercial real estate resolution at First Citizens Bank. He reports to Kris Gagnon.

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Aleem Gillani has joined the board of US Bancorp, where he will sit on the audit and risk management committees. Gillani was chief financial officer at SunTrust Banks between 2011 and 2018, and previously served as chief market risk officer at PNC Financial Services and FleetBoston Financial. He has also been a member of the board of directors at Freddie Mac since 2019, and was the founding chair of the market risk council for the Risk Management Association.

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Monica Malone

Monica Malone has joined Standard Chartered Americas in New York as head of banks and broker-dealers. She previously ran corporate and investment banking at the North American arm of Santander. In her new role, Malone reports to Jerry Zhang and Molly Duffy Burns, co-heads of financial institutions coverage.

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ING has appointed Daniele Tonella as its chief technology officer, effective August 5, taking over the role from Marnix van Stiphout, who had been serving on an interim basis. Tonella most recently held a variety of board and advisory roles at companies including IT consultant ELCA Group and software companies Swish AI and Avalia Systems. Before that, he worked at UniCredit services in various roles, including CEO. 

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Anders Malmström, chief financial officer at Athora, will leave the insurance firm to join Swiss Re in the same role on April 1 next year. He will replace John Dacey, who is stepping down, but will remain a non-executive director. Athora says that a successor to Malmström would be announced in due course.

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Tom Doomernik

Investec has grown its treasury risk solutions team with the appointment of Tom Doomernik in the newly created role of Netherlands’ corporate treasury team lead. Based in Amsterdam, he will report to the head of team for Investec Europe, Aisling Dodgson. Doomernik was previously head of the sales desk at Ebury. In his new role he is responsible for, among other things, passporting Markets in Financial Instruments Directive (Mifid) services into the Netherlands.

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Victoria Barron has joined boutique asset manager GIB AM as chief sustainability officer. She arrives from Brightwell, which manages the BT Pension Scheme, where she was head of sustainable investment. Barron is based in London, and reports to GIB AM CEO Katherine Garrett-Cox.

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As reported recently by Risk.net, Matt Long has joined TP Icap’s agency broking business, Coex Partners. He becomes managing director in FX, reporting to co-heads of FX Graham Clapham and Max Clarfelf. Singapore-based Long previously worked in FX hedge fund sales roles at Citi.

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Priyanka Jain

Priyanka Jain has joined CME Group as director of equity and crypto products as the exchange moves to boost its crypto derivatives capability. She is New York-based, and will report to global head of crypto derivatives products Giovanni Vicioso. Jain previously worked for three years as US digital assets strategy lead at BGC Partners, where she launched the digital assets desk.

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Vicky Chan

Hong Kong Exchange & Clearing has appointed Vicky Chan as managing director and head of post-trade. She previously worked for HKEX for 15 years across the cash settlement, clearing operations and platform development teams before leaving in 2017. She succeeds Hector Lau, who had been at HKEX for seven years. Chan is based in Hong Kong, and reports to CFO and co-chief operating officer Vanessa Lau.

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The Bank of England has appointed three new members to its enforcement decision-making committee, which settles contested enforcement cases in the bank’s statutory regime. They are barrister Harry Matovu, solicitor Clare Moulder and chartered accountant Pauline Wallace. Each will serve for an initial five-year term. Their appointments bring the committee to a total of nine members, who are answerable to the BoE’s court of directors.

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Keith Cassidy

The US Securities and Exchange Commission has appointed Keith Cassidy as interim CEO for its examinations division, replacing Richard Best. Cassidy will remain in his current post of national associate director for the examinations division’s technology controls programme, which examines market technology infrastructure and administers the SEC’s CyberWatch programme. He will report to SEC chair Gary Gensler, and will be based in Washington, DC.

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The US’s Financial Industry Regulatory Authority has hired two new SVPs in enforcement, Tina Gubb and Julie Glynn, who will report to head of enforcement Bill St Louis. Gubb has been at Finra since 1998, and was most recently chief counsel covering enforcement, while Glynn joins from JP Morgan, where she has been general counsel for the wealth management unit since 2019. The roles were created to smooth out the reporting structure of the enforcement teams. Gubb took up her position on July 22. Glynn will join in September.

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Antoinette Sayeh will retire from the International Monetary Fund on September 12, having served as deputy managing director since March 2020. Sayeh was director of the African department between 2008 and 2016, and was previously Liberian minister of finance from 2006 to 2008. In her time as deputy MD, she focused particularly on low-income, fragile and conflict-affected members of the IMF. A search for Sayeh’s successor is under way.

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Julian Coates

Julian Coates has joined Price Forbes Singapore as chief broking officer. He will develop the firm’s broking strategy for Asia and the Pacific, based in Singapore. His appointment is part of a broader investment in the region, with a view to its becoming the region’s leading industry broker. Coates was most recently CEO at insurance broker Honan Asia.

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Simona Covaliu

Simona Covaliu has been appointed chief risk officer at payment service provider PayU GPO. She joins from infrastructure provider Mambu, where she was VP in risk and compliance. Covaliu will cover privacy, compliance, risk and security. She reports to CEO Daniel Cohen, and will be based in Amsterdam.