HSBC is combining its global markets and securities services businesses into a single unit to enhance institutional client relationships and expand its prime financing business. The combined business, expected to be completed in May, will result in a series of changes to its senior management team.
Allegra Berman and Richard Godfrey will take on newly expanded roles in addition to their roles as co-heads of securities services. Berman will become global head of institutional sales for the combined unit, named Markets and Securities Services, while Godfrey will lead a new product area named securities financing jointly with Hossein Zaimi, global head of equities. This will comprise equity prime financing, rates and credit repo activities and collateral treasury. Berman and Godfrey will report to Georges Elhedery, co-head of Global Banking and Markets and head of Global Markets.
Berman, one of the bank's top female executives, joined HSBC in 2013 from UBS and was named co-head of securities services in 2018. Godfrey joined HSBC in 2004 and has held several roles within the securities services unit, becoming chief operating officer in 2011 and co-head with Berman in 2018.
As part of this reorganization, the bank's derivatives clearing services, which covers both listed and OTC derivatives, will be moved out of the global markets division and into the securities services division, with Najib Lamhaouar, global head of OTC clearing and exchange-traded derivatives, reporting to Berman and Godfrey.
Morgan Stanley has appointed Samer Oweida and Craig Abruzzo as co-heads of its global foreign exchange and emerging markets sales and trading unit. Oweida was previously global head of FX and emerging markets sales, and Abruzzo was head of Morgan Stanley's North American listed derivatives business and global OTC derivatives clearing business. Both will report to Jakob Horder, global head of macro trading.
Morgan Stanley also announced Penny Novick will become its global head of futures and OTC derivatives clearing. She has more than 19 years of experience at the firm and has held senior roles in its global prime brokerage franchise.
Intercontinental Exchange appointed Chris Edmonds as global head of clearing and risk, with responsibility for the company's six clearinghouses in the U.S., the U.K., Europe, Canada and Singapore as well as its global risk management team. Edmonds, who has worked at ICE for 10 years, previously was senior vice president for financial markets, responsible for client-facing initiatives in the company's listed and OTC financial markets. Before that he was the president of ICE Clear Credit, the company's U.S. clearinghouse for credit default swaps.
The European Commission has appointed John Berrigan as director-general of DG Financial Stability, Financial Services and Capital Markets Union (DG Fisma). Berrigan was previously deputy director-general before being appointed acting director-general in January this year.
Fredrik Ekström has been appointed president of Nasdaq Stockholm Stock Exchange, reporting to Bjørn Sibbern, president of Nasdaq’s European Markets. Ekström, who will assume the role from April 1, will oversee Nasdaq Stockholm’s business operations in addition to his existing responsibilities for leading Nasdaq’s European fixed income and commodities businesses. Ekström joined Nasdaq in 2010 as chief risk officer for Nasdaq Clearing. Over the past decade, he has held a variety of leadership positions, including president of Nasdaq Clearing and head of Nasdaq Nordic Fixed Income.
Lauri Rosendahl, who currently serves as president of Nasdaq Stockholm and head of European equities and post trade, will retire at the end of the quarter and become executive advisor, reporting to Sibbern. He also will continue as chairman of the board for Nasdaq´s exchanges in Helsinki, Copenhagen, Oslo and Iceland. Rosendahl joined Nasdaq in 2009 as president of Nasdaq Helsinki and went on to assume several key roles in the company, including head of European equities and derivatives and president of Nasdaq Nordic.
The National Futures Association's board of directors has elected Maureen Downs from Phillip Capital to serve a one-year term as chair and Don Thompson, JPMorgan Chase, to serve as vice-chair. Downs, who was previously vice-chair, replaced Michael Dawley from Goldman Sachs, who served as chair from 2016 to 2019. Downs has more than 30 years of futures industry experience and recently served as president of Rosenthal Collins Group and RCG Holdings. Thompson spent more than 30 years at JPMorgan, serving most recently as managing director and associate general counsel, representing JPMorgan in its full range of derivatives activities, with a focus on regulatory, documentation and litigation matters.
Paul Humphrey has been named CEO of BMLL Technologies, a data engineering and analytics firm based in London. A senior executive with decades of leadership experience across brokerage, banking, data and exchange operations, Humphrey previously served as global head of FICC for Euronext and interim CEO of Euronext London. He also previously served as CEO for electronic broking and information at Tullett Prebon and global head of eCommerce for ABN Amro.
Cloud9 Technologies, a New York-based company that captures and digitizes voice conversations on trading desks, promoted Jim Miller to chief operating officer. He was previously head of product and development. Prior to joining Cloud9 in 2018, Miller was CTO and co-founder at InterNex Capital, where he led the technology planning and build for InterNex’s asset-backed alternative lending platform. Prior to this, Miller co-founded interest rate swaps trading platform trueEX, where he was chief technology officer and a member of the board for five years. Early in his career, Miller was the director of US credit derivatives technology at Barclays and CTO at Creditex, an electronic credit default swaps trading platform that was bought by ICE in 2008.
Balderton Capital, a London-based venture firm focused on backing European-founded technology companies, has hired Rana Yared and David Thévenon as general partners. Yared joins from Goldman Sachs, where she was a partner and managing director in the principal strategic investment team. She also sat on the board of fixed income trading platform Tradeweb until it went public in April 2019. Yared joined Goldman Sachs as an analyst in 2006. Thévenon joins from SoftBank’s Vision Fund, where he was one of the partners. Before joining SoftBank in 2014, Thévenon had a 10-year career at Google, working on partnerships for products, including leading global product and business partnerships for Google's Android platform.
Fixed income and derivatives platform Tradeweb Markets has promoted Justin Peterson to chief technology officer, reporting to chief executive Lee Olesky. Peterson joined the company more than 20 years ago and was most recently managing director, head of institutional technology. He will take over from Jay Spencer, who is retiring in April after 12 years with the company.
OSTC, a derivatives trading and education business based in the U.K., has appointed Ian Cohen as chief operating officer and deputy chief executive officer. He takes over from Ian Firla who remains with the firm as head of innovation. Cohen was previously global head of market structure and execution strategy at HSBC Global Asset Management. Prior to this he was global chief strategy officer and COO of HSBC Equities. He joined HSBC in 2005 from Buttonwood Tree Group, where he was a founding member and CEO. He also served as CEO of Jiway Broker Services, the cash equities exchange created by Morgan Stanley and OM Group, global COO of technology at Barclays Capital, and IT director for Clearstream.
Vidhu Singh has joined ErisX, a provider of digital asset spot and futures markets, as chief risk officer, reporting to Liz James, head of Eris Clearing. Singh was most recently business operations manager at Hudson River Trading and before that Sun Trading, which was acquired by Hudson River Trading in 2018. At Sun Trading, Singh built out a risk management team that monitored risk related to low-latency algorithmic trading in the global equity and futures markets. Singh also held similar positions at Stark Investments and UBS Investment Bank.
Proprietary trading firm DV Trading has appointed Jeffrey Kopiwoda as chief operating officer and general counsel. Kopiwoda had previously served as outside counsel to the Chicago-based firm from 2013 and was instrumental in facilitating the company's spin-out from brokerage firm Rosenthal Collins Group in 2016. Before joining the company, Kopiwoda was a partner at Chicago-based law firm Funkhouser Vegosen Liebman and Dunn, where he represented financial and proprietary trading firms. DV Trading also promoted Shifra Katz from head of legal and compliance to chief compliance officer and senior counsel. Before joining the firm in 2016, Katz worked as an attorney for the U.S. Commodity Futures Trading Commission and the National Futures Association.
Robbie McDonnell, the former head of Europe and head of Asia Pacific at Trading Technologies, has been appointed chief executive officer of The Confidere Group, a strategic leadership practice, based in Sydney. McDonnell was one of the founding members of Trading Technologies London in 1998 and was responsible for launching and growing the business across Europe before leading the APAC business expansion. Most recently, he led global operations from TT's head office in Chicago.
SSY Futures has hired Jake Constable as senior LME broker and Richard Fowler as a research and derivatives analyst. Previously Constable worked at FC Stone and Toyota Tsusho Metals Limited where he spent the last eight years helping to build their LME businesses. Fowler previously worked at hedge funds Caxton Associates and Red Kite as well as Australian investment bank Macquarie as a commodities and metals strategist.
Eventus Systems, a trade surveillance software provider, has hired Eric Einfalt as chief strategy officer and David Mitchell as regional sales executive, North America. Based in Chicago, Einfalt reports to Travis Schwab, the company's chief executive officer, and Mitchell reports to Scott Schroeder, managing director and global head of sales. Einfalt most recently served as head of strategic development for XR Trading, and before that was with Sun Trading, where he served as chief strategy officer. Mitchell was previously regional sales executive, North America for G.H. Financials and has worked at Chi-X Australia and the Australian Securities Exchange.
Itiviti, a software company that provides exchange connectivity and trading infrastructure to financial institutions, has appointed Josh Monroe as managing director, head of Americas region reporting to CEO Rob Mackay. Monroe joins from Ned Davis Research, where he was global head of sales. He has also worked at FIS, SAC Capital Advisors and Morgan Stanley.
Vela, a provider of e-trading and market access technology, has appointed Cedric Rondeaux as product manager within the global product management team, responsible for the strategy of Vela’s market data business. Based in London, he reports to chief product officer, Ollie Cadman. Rondeaux joins from ICE Data Services where he was a senior product manager. In New York, Vela has hired Ryan Hsu as an account manager, reporting to Keith Cacciola, chief customer officer. Hsu previously held roles at Starfuels, TP ICAP and MF Global.
