Keeping track of appointments, promotions and other industry news
The White House announced on April 2 that PRESIDENT TRUMP intends to nominate former investment banker JUSTIN MUZINICH to be Deputy Treasury Secretary, a role that includes overseeing policy on financial regulation, debt management and economic sanctions. Muzinich currently serves as counselor to Treasury Secretary STEVEN MNUCHIN, advising him on tax reform and other domestic and international policy initiatives. Immediately prior to joining the Treasury Department, he was President of Muzinich & Co., an investment firm founded by his father, and taught at Columbia Business School. Earlier in his career he worked as an investment banker at Morgan Stanley.
The White House announced on April 16 that President Donald Trump intends to nominate DAN BERKOVITZ, a former general counsel of the Commodity Futures Trading Commission from 2009 to 2013, to fill one of two open slots on the commission. Berkovitz, a Democrat, is currently a partner at the law firm of WilmerHale. Prior to the CFTC, Berkovitz was a senior staff lawyer for the Senate Permanent Subcommittee on Investigations.
MICHAEL PIWOWAR, a commissioner at the U.S. Securities and Exchange Commission, has advised the White House that he plans to step down in July. Piwowar, a Republican, was nominated to the SEC by PRESIDENT OBAMA in 2013 and served as the SEC’s acting chairman for five months in 2017.
The SEC announced that RAQUEL FOX will succeed PAUL LEDER as the director of the Office of International Affairs, which advises the SEC on cross-border enforcement and regulatory matters and coordinates the SEC’s involvement with regulatory authorities outside the U.S. Fox, who will take up the position in July, joined the SEC in 2011 and has held several positions, including most recently senior advisor to SEC Chairman JAY CLAYTON.
Schwimmer
The London Stock Exchange Group appointed Goldman Sachs executive DAVID SCHWIMMER as chief executive officer, with effect in August, to fill the vacancy left when XAVIER ROLET stepped down. DAVID WARREN, who has been acting as interim CEO in addition to his duties as group chief financial officer, will continue as Group CFO. Schwimmer joins LSEG after a twenty year career at Goldman Sachs. Most recently, he was global head of market structure and global head of metals and mining in investment banking. He began his career at Goldman Sachs in the financial institutions group, focusing on market structure, brokerage and trading. He also served as chief of staff to then President and COO LLOYD BLANKFEIN during the mid- 2000's and spent three years in Moscow as co-head of the bank's business in Russia.
Deutsche Börse announced several changes to its senior management. Two long-standing executives, ANDREAS PREUSS and JEFFREY TESSLER, will retire later this year, and three executives, two of whom are new to the company, will join its executive board. THOMAS BOOK, who is currently the chief executive officer of Eurex, will join the board in July. He will be responsible for all of the group's trading and clearing businesses except cash equities. STEPHAN LEITHNER will join the company in July and take over responsibility for Clearstream and the data and index businesses. Leithner currently is a partner at EQT, a Swedish private equity firm. Before that he worked at Deutsche Bank for 15 years, including three years as a member of the its management board. CHRISTOPH BÖHM will join the company in November as chief information officer and chief operating officer. He is currently senior vice president, global cloud services, at SAP.
Cboe Global Markets appointed ANDY LOWENTHAL and BRYAN HARKINS as executive vice presidents and co-heads of its newly formed markets division, which includes derivatives, FX, U.S. equities, equity options, and ETP listings. Lowenthal previously led Cboe's derivatives group and its global client services group, and directed its business analysis and business development groups. Harkins, who came to the company through its acquisition of Bats, previously led Cboe's U.S. equities business and its global FX business.
Pecot
Barclays hired MATT PECOT as head of equities in Asia-Pacific, a newly created position that will cover equity financing and equity derivatives, including both listed and over-the-counter markets. He is based in Hong Kong and reports to STEVEN DAINTON, global head of equities. Pecot joined the bank from Credit Suisse, where he was head of prime services and equities distribution in the Asia-Pacific region and managed all client-facing teams across cash, derivatives and prime services.
Citadel Securities announced that JAMIL NAZARALI has rejoined the firm as global head of business development. He will replace REMCO LENTERMAN, who will stay for a transition period and then leave to pursue other interests. Nazarali worked at Citadel from 2011 to May 2017 as head of execution services, overseeing the firm's client market making offerings in equities and options. In May 2017 he stepped back from that role but retained ties to the firm as a senior advisor to PENG ZHAO, the chief executive of Citadel Securities. JOE MECANE, who was named head of execution services in June 2017, remains in that role.
Credit Suisse appointed JOHN DABBS to head of prime financing sales for the Americas, a newly created role with responsibilities for sales related to prime brokerage, swaps and futures. He also will oversee capital services, client services and prime consulting. Dabbs, who is a member of FIA's board of directors, will retain his responsibilities as global head of prime derivatives services. He will report to PAUL GALIETTO, who was appointed global head of prime services in February, and ERIC MILLER, head of equities sales.
Cargill appointed ALEXANDRA GUEST as chief compliance officer for Cargill Risk Management, a swap dealer subsidiary that provides hedging solutions to agricultural producers, corporate customers and institutional investors. She previously worked as a risk management consultant at HSBC and as global head of futures and OTC clearing compliance at Barclays Capital. Earlier in her career she was senior counsel at Louis Dreyfus Commodities.
Kennedy
Nasdaq has named KEVIN KENNEDY as head of U.S. derivatives. He will continue to be head of U.S. options markets and now will have additional responsibility for the group's U.S. futures business. RICK BEAMAN, the head of Nasdaq's U.S. futures exchange, will now report to Kennedy, who has worked for Nasdaq since 2007.
MAREX SPECTRON appointed PAOLO TONUCCI as chief operating officer. He previously worked as group treasurer at the Commonwealth Bank of Australia, responsible for CBA’s funding, asset and liability management, and capital management. Earlier in his career he was head of funding and liquidity at Barclays and global treasurer at Lehman Brothers. STEVE SPARKE, who served as COO for the last 10 years, was appointed group vice chairman. Sparke remains chairman of FIA's European Regional Advisory Board.
JOE RAIA joined R.J. O’Brien as managing director, global commodities. He is based in New York and reports to GERRY CORCORAN, the chief executive officer. Raia joined the company from Goldman Sachs, where he was managing director and global head of commodity futures sales. Earlier in his career he worked at the New York Mercantile Exchange, where he helped create the Clearport platform.
Rosenthal Collins Group appointed STEVE IVEY as executive vice president and chief risk officer. He joined the firm from Options Clearing Corporation, where he served as vice president, stress testing and liquidity risk management. Earlier in his career he worked at Allston Trading, Hanley Group, and O’Connor & Company.
The International Organization of Securities Commissions reappointed ASHLEY ALDER, chief executive officer of Hong Kong's Securities and Futures Commission, as chairman and JEAN MARC SERVAIS, chairman of Belgium's Financial Services and Markets Authority, as vice chairman. Alder and Servais were first appointed to these positions in 2016.
Citi named THOMAS TREADWELL head of over-the-counter clearing in EMEA in addition to his role as head of this business in Asia Pacific. He will move from Singapore to London, and will report to SABRINA WILSON, Citi’s head of EMEA futures, clearing and collateral. Treadwell has led Citi’s Asia.
Do you have important additions or promotions in your organization? Email Will Acworth at wacworth@fia.org and Jeff Reeves at jreeves@fia.org so FIA can share the news!
