People Moves
Executive Moves - August 2009
August did not provide much of a slowdown in the pace of hirings and moves within the private banking sector, as this collection of moves demonstrates.
UK
JP Morgan Asset Management has appointed Pierre-Yves Bareau as head of emerging market debt, the Wall Street Journal reports.
Mr Bareau joins the company from Fortis Investments, where he worked as chief investment officer for emerging market debt for more than ten years.
The Financial Services Authority, the UK regulator, has appointed Julian Adams as director of its retail firms division. The RFD oversees around 900 firms operating in the retail market, including fund managers, smaller banks and intermediaries.
Mr Adams first joined the FSA from the Bank of England in 1998 and has since held a variety of roles within the regulatory body.
London-based Insparo Asset Management has appointed Mr James Gore as finance and operations manager.
Mr Gore joins Insparo from Gandhara Capital where he was a finance manager. His prior career also includes roles at Marathon Asset Management, HSBC Investment Bank and Morgan Stanley.
London-based Thames River Capital has continued the expansion of its European Equities team with the appointment of a new fund manager.
Trygve Tøraasen joins recent appointees James van den Bergh, Carlos Moreno and Omer Tore, bringing Thames River’s European team up to to eleven.
Working in London, Mr Tøraasen will manage the Thames River European fund alongside Mr Moreno. The pair previously worked together at Fidelity Investments where Mr Tøraasen managed the FMR Europe, Fidelity European Dynamic Growth, Fidelity Nordic and FMR Nordic funds.
Barclays Wealth, the private client arm of UK bank Barclays, has recruited Alan Edwards from Coutts to take up the role of regional centre head for Leeds and Manchester.
Mr Edwards has spent the last three and a half years at Coutts, first as senior manager leading the private bank’s Leeds and Newcastle offices and most recently as client partner responsible for Leeds. Before joining Coutts, he was at HSBC for six years.
London-based asset manager Newton Investment Management has appointed Scott Freedman to its fixed-income team.
In his role, Mr Freedman will recommend investments in non-financial companies. He joins from Standard Asset Management where he worked as a high yield investment analyst.
Newscape Capital Group, the London-based investment boutique, has appointed Paul Molere as a board director and head of European institutions – a hire which is intended to drive new investment from institutional investors, wealth managers and high net worth individuals. Mr Molere joins from Credit Agricole Asset Management in Paris.
UBS has appointed Mark Goddard, an existing UBS advisor, to the role of head of sales management for the UK and Jersey. Mr Goddard replaces Andrew Little, who is returning to a client-facing role as a senior client advisor in the UK domestic high net worth team from 1 October.
Deutsche Bank Private Wealth Management, a unit of Germany’s biggest bank, has hired a total of seven senior managers from UBS, Credit Suisse and Barclays Wealth as the firm expands its UK business.
Meanwhile, the German private bank also announced top appointments for its north and south Asian business segments.
The London-based hires are Melanie Cassoff, (director); Neil Murray, (director); Robin Perry, (director); Nataša Williams, (director); Andreas Wichmann, (director); Joe Knight, (vice-president), and Beatrice Rates, (assistant vice president).
Deutsche Bank Private Wealth Management, Asia Pacific, said it had appointed Lok Yim as head of its North Asia business, based in Hong Kong, and Mr Ajay Jaiswal as group head for global south Asia, based in Singapore, with immediate effect.
HSBC Private Bank has hired Minoo Sahni-Court – formerly an investment consultant at UBS Wealth Management – as a director in its Multi Asset Products Specialists team.
Having been based in New York while at UBS Wealth Management, Ms Sahni-Court is now based in London, reporting to David Rumsey, head of HSBC Private Bank’s MAPS team.
Standard Life Wealth, the UK-based discretionary investment management firm, has appointed Jeremy Hippolite as senior business development manager. Mr Hippolite joins Standard Life Wealth from Credit Suisse Asset Management.
Geneva-based Lombard Odier has recruited Bill Hiscocks, a private banker, from UBS for its London team.
Barclays Wealth has appointed a new head of fund services for the Channel Islands and Isle of Man.
Jon Wrigley leaves Morgan Stanley Investment Management - where he was senior product development manager - and the UK mainland to take up his new role in Guernsey. From there he will oversee the day to day running of Barclays Wealth's Fund Services Administration teams in Guernsey, Jersey and the Isle of Man.
Jersey Trust Company has recruited Martin Cudlipp from RBC Wealth Management to take up the position of director within its private wealth divison.
At RBC Wealth Management, Mr Cudlipp was associate director of global wealth management.
Gavin Stewart, chief executive of UK-based Ignis Asset Management, is to step down.
Subject to regulatory and shareholder approval, Mr Stewart’s successor at the helm will be Chris Samuel, Ignis’ current chief operating officer. As CEO, Mr Samuel will assume responsibility for the retail Ignis Asset Management business and Axial, the fund management arm of Pearl Group, Ignis’ parent company.
Jelf Private Clients, the wealth management division of Bristol-based Jelf Group, has appointed Martin Bowles as managing director.
Reporting directly to chief executive Alex Alway, Mr Bowles will take full responsibility for the day to day management of the division, the firm said.
Prior to this appointment, Mr Bowles worked for Hargreaves Lansdown
UBS Wealth Management has seen the departure of Natasa Williams, executive director, senior client advisor within its London-based key clients group. Beatrice Rates, associate director, junior client advisor has also left the Swiss firm.
London-based private bank C Hoare & Co has appointed Tim Bailey as senior portfolio manager.
Mr Bailey joins C Hoare & Co having been at Merrill Lynch Global Wealth Management where he was director of intermediary banking development.
US-listed investment manager GLG Partners has announced a new appointment to its UK team.
Nick Judge joins GLG's UK equities division in London as an asset manager and will report to John White and Jason Mackay. Mr Judge joins from Merrill Lynch where he was a managing director in its equities division.
GLG Partners has also appointed Javier Velasquez as head of European industrial investments and Carl Esprey and Tim Medland as co-heads of European basic resources investments within the GLG European Long/Short Fund.
Mr Velasquez et al will continue to manage the £1 billion ($1.7 billion) European Long/Short fund under GLG co-founder Pierre Lagrange
UBS has appointed Robin Hubbard as head of products and services investment management UK with immediate effect.
Mr Hubbard replaces Mark Fox, who has moved from wealth management back into the investment bank to head up emerging market distribution in EMEA, according to an internal memo seen by this publication.
In his new role, Mr Hubbard will be responsible for UBS’s mandates business across the UK and will focus on enhancing UBS’s Wealth Management mandate offering.
Brewin Dolphin has boosted its investment management offering in the county of Somerset with the addition of a new team to its Taunton office.
The new team - understood to have been recruited from UBS - will be led by divisional director Christopher Rew, who will be joined by investment manager Finbarr O’Mahony, Sharon Deady, their secretary, and investment assistant Gregory Sellars.
London-based Shariah compliant Bank of London and the Middle East has appointed Muriel Simon, Fazal Ahmed and Ihab Al-Derzi as private bankers following its launch in January this year.
Ms Simon joins BLME Private Banking from UBS London, where she focused on UK resident non-domiciled high net worth clients. She will advise on investments as well as credit and wealth restructuring solutions for BLME’s Private Banking clients. Before UBS, she worked at Barclays Wealth, advising its international high net worth clients. Prior to that Ms Simon also worked at JP Morgan Investment Bank where she dealt with French institutions designing FX derivatives structures.
Mr Ahmed joins BLME from Bank of Ireland Property Finance where he specialised in the European real estate market.
Lady Emily Compton, the former social editor at UK magazine Tatler for the past two and half years is leaving to join Spencer-Churchill Miller Private, the UK wealth management firm that was launched in May.
She will introduce high net worth individuals to the investment business as well as work alongside Alexander Spencer-Churchill and Gina Miller on a new business venture
UK wealth manager Brooks Macdonald is looking to establish a new Edinburgh operation and has hired an investment management team from RBS-owned private bank Adam & Company.
Three senior investment managers including the former chief investment officer, Gareth Howlett, who also ran the CF Stewart Ivory Investment Markets fund, and CF Adam Worldwide funds, Robin McAdam and Alastair Wilson have been hired.
Barclays Wealth, the wealth management arm of UK bank Barclays, has appointed Jaime Arguello as head of multi-manager and third party funds.
IIn his new role Mr Arguello will have responsibility for investment decisions and will make recommendations for the third party funds platform; he will report to investment products head Thomas Fekete and the head of retail distribution and European fund management, Thomas Rostron.
Most recently Mr Arguello headed up the third party mutual funds of Geneva-based private bank Pictet & Cie.
David Pook is to retire as chief executive of WAY Fund Managers, leading to major management changes at the firm.
Mr Pook will leave Elite, the third party division of WAY Fund Managers at the end of September, the company said in a statement.
London-based Morgan Stanley IQ, the retail structured products platform for US bank Morgan Stanley, has hired Neville Godley as vice president of the firm’s structured products distribution team.
Mr Godley, previously responsible for structured product sales as head of distribution at Quantum Asset Management, will be reporting to IQ executive director Marc Chamberlain.
London-based asset manager Cazenove Capital has appointed Marcus Gregson as non-executive director to the board of Cazenove Capital Holdings.
Mr Gregson was, until his retirement, the founding chief executive of HSBC Private Bank (UK) having joined the bank's predecessor in 1989.
North America
Turner Investment Partners, a US investment firm owned by its own staff, said it has expanded its private client group by hiring seven sales people as external and internal wholesalers.
Karl Zeller moves up to be strategic relationship manager in an expanded private client group at Turner Investment Partners, an employee-owned investment firm based in Berwyn, Pennsylvania. He reports to Gary Ross, managing director of the private client group, part of the firm’s distribution team.
Wells Fargo Advisors, part of the US-listed banking group, has lifted an international-banking team out of Citigroup in New York.
The ex-Citi team, led by financial advisor Pedro Nieves, managed around $345 million in client assets and had more than $3.2 million in annual production
New York-based asset manager WL Ross & Co, which is the distressed investment affiliate of Invesco, has appointed James Lockhart as its vice-chairman, a role he will take up in September.
Mr Lockhart is the chief executive and chairman of the Oversight Board of the Federal Housing Finance Agency. He has also formerly held the role of senior vice president, finance, at National Reinsurance and been a managing director in Smith Barney's investment banking group and co-head of its private finance group.
Northwestern broker-dealer and investment advisory McAdams Wright Ragen has hired a small clutch of ex-Morgan Stanley Smith Barney advisors to open a full-service retail brokerage branch in Yakima, in central Washington State.
The Yakima team includes branch manager Dan Sullivan, brokers Gary Staples and Doug Warren, and sales assistant Carly Mestatz.
New York-based separate account manager Rockingstone Advisors has hired former Nuveen Investments wholesaler Trevor Smallwood as its head of sales and business development - and opened an office in Ponte Vedra, Florida to accommodate him.
Los Angeles-based wealth manager and private bank City National has hired Michael Muttart as senior vice president and chief fiduciary officer for trust and investment management.
Ogier, the offshore law firm, has appointed Gareth Thomas as managing director of Ogier Fiduciary Services (British Virgin Islands).
Mr Thomas joined Ogier after seven years at Codan Trust Company, a BVI-based affiliate company of Conyers Dill and Pearman, where he was the general manager.
San Francisco-based UCBH holdings, the parent company of troubled United Commercial Bank, a commercial lender and wealth manager with extensive ties to China and Chinese-American businesses and their owners, has appointed former banking regulator Joseph Vaez to its board of directors. Mr Vaez will serve as chairman of the board's risk-oversight committee, along with having a seat on its credit committee.
New York-headquartered Westrock Group has hired Paul Krake, Douglas Sherman, and David Brown - a team which the firm said will form the nucleus of Westrock Asset Management and Westrock Institutional Group.
Los Angeles-based City National Bank has hired Logan Allin as a senior vice president and manager of business and operations strategy for its wealth management division. He joins from PricewaterhouseCoopers.
US firm Advisors Asset Management, has hired Brian Jones as managing director of retail sales distribution.
Mr Jones joins AAM from Macquarie Capital, part of Australian bank Macquarie, where he was latterly managing director, head of equity derivatives sales for the Americas.
Byron Wien has been appointed the new vice chairman of Blackstone Advisory Services, Blackstone, the New York-headquartered investment and advisory firm.
Mr Wien was formerly the chief investment strategist at Pequot Capital and, before that, he served for 21 years as chief (later senior) US investment strategist for Morgan Stanley.
Pittsburgh-based PNC has named veteran staffer Richard Cairns as its managing director of wealth management services in Delaware. He replaces Walter Welsh who was recently made managing executive of PNC's banking business in Philadelphia.
Wells Fargo Advisors has confirmed the recent appointment of Andrew Lewis, a financial advisor, from UBS Wealth Management.
Mr Lewis has joined the Wells Fargo Advisors Financial Network, the firm’s independent unit, and is based in Wells Fargo Advisors’ Vienna, Virginia office.
Union Bank, the San Francisco-headquartered private bank, has appointed Justin Miller as director of a department offering specialised financial products and advice for law firms. Mr Millar will head up the legal specialty group. He previously managed legal speciality operations at Wachovia Wealth Management.
New York-headquartered Westrock Group has appointed Donald Hunter as chief executive and president of the firm and its wealth management subsidiary, Westrock Advisors. Mr Hunter had been chief operating officer at Westrock since 1997.
RBC Wealth Management, part of Royal Bank of Canada, has hired former Merrill Lynch broker Tim Cowdrey as director of its branch in affluent Scottsdale, Arizona.
Miami-based specialist law firm Cantor & Webb has hired Andrea Mirabito as an associate.
Previously Ms Mirabito spent four years with a boutique law firm in Coral Gables where she also specialised in international taxation and estate planning.
UBS Wealth Management Americas has confirmed the departure of Pat Mendenhall, the manager of its Houston, Texas branch.
Mr Mendenhall, who had been with UBS for 19 years, chose to retire from the Swiss bank to pursue other opportunities within the wealth management industry.
Allison Mahoney has joined HSBC Private Bank, part of the UK/Hong Kong-listed banking giant, as a senior vice president.
Ms Mahoney will be based in New York City and report to John Babcock, a managing director and regional manager for the Northeast and Mid-Atlantic region.
Caturano and Company, the Boston-based accountancy, consulting and wealth management firm, has promoted Marc Lamothe to a partner in the firm’s tax practice.
Mr Lamothe joined Caturano and Company in 2004, prior to which his career included being a tax manager at accountancy Arthur Andersen, and a stint at the Boston tax practice of Deloitte & Touche.
UBS has confirmed that Michael Weisberg, head of products and services within its Wealth Management Americas division, is to leave the bank.
Mr Weisberg has taken an indefinite leave of absence due to personal rather than performance-related issues.
Raymond James, the Canadian arm of US investment advisor and broker Raymond James Financial, has hired Mario Addeo to fill the newly-created position of head of fixed income as a senior vice president.
He will also be a member of the firm's private client group operating committee.
Mr Addeo joins from CIBC World Markets, where he was managing director and head of retail fixed income and private client investing.
First Republic, the San Francisco-headquartered private bank and wealth manager, which is a division of Merrill Lynch, has hired Andrew Smaltz as managing director of foreign exchange.
Mr Smaltz joins from Royal Bank of Scotland, where he was a vice president in its foreign exchange and derivatives group. Before RBS, he worked at ABN AMRO and FleetBoston Financial.
Umpqua Bank, which is based in the western US state of Oregon, has appointed Donna Huntsman as senior vice president of private banking. Ms Huntsman joins Umpqua from Key Private Bank, where her most recent role was that of senior vice president and financial advisor.
Maxim Group, the New York-based wealth management, investment banking and securities firm, has expanded its fixed income platform with three senior level appointments.
Sheila McGillicuddy has been named managing director - leveraged finance sales and trading; Marc Steinberg has been appointed managing director - CDO (collateralised debt obligations) trading, and Michael Kinnear is to take up the role of director - credit trading.
Switzerland
Zurich-based Swiss private bank Clariden Leu appointed Stephan Peterhans as its new head of human resources and a member of the executive board, with effect from 1 March 2010.
Mr Peterhans has served as head of human capital, Switzerland at PricewaterhouseCoopers for the past five years. He succeeds Jan Keller, who Clariden Leu said has decided to take on a new challenge outside the bank.
UBP Asset Management, a fund of funds management company of Union Bancaire Privée, appointed Matt Auriemma as co-head of structural risk analysis, the third major hire this year as the Swiss firm develops robust risk management systems.
Mr Auriemma was previously head of operational due diligence for Barclays Wealth.
ABN Amro Switzerland appointed Nicolas Geissman as its new head of wealth management.
Mr Geissman, who was latterly head of ABN Amro’s Geneva office, has been with the Dutch firm for just under a year. He formerly worked for BNP Paribas Switzerland for 12 years.
Mr Geissman will be replaced by Reinhard Kötter as head of ABN Amro’s Geneva office. Mr Kötter previously worked for AIG Private Banking in Zurich, the report said.
Europe
Paris-listed Crédit Agricole appointed Michel Le Masson, the former head of private banking at Crédit Agricole Indosuez, as group general inspector.
Mr Le Masson became CAI’s senior country officer for the UK in 1997 and was subsequently appointed European director in 1999. His responsibilities were then extended to include the role of head of private banking in 2001.
In 2002 Mr Le Masson joined Crédit Agricole as head of international business development, while continuing to serve as head of the Europe region for Calyon, the group's corporate and investment banking entity. His role from the start of 2005 up to the present has been that of head of Calyon’s internal audit and inspection.
SEB, the Swedish financial services group which includes a private banking arm, named Peter Kubicki and Frederick Johansson as the new heads of SEB in Luxembourg and New York respectively. Both appointments take effect from 1 September.
Succeeding Lars Friberg as new head of SEB in Luxembourg, Mr Kubicki's most recent role at SEB has been that of head of Trading and Capital Markets in Copenhagen.
Mr Johansson, meanwhile, has been head of SEB Venture Capital in Stockholm, having previously worked in various positions in client relationship management, both in Stockholm and London. Mr Johansson succeeds Christian Dahlberg as the new head of SEB in New York.
The private banking head of Swedbank, Kristel Meos, is leaving the bank.
Mr Meos will be succeeded by Vaiko Tammeväli, who is currently Estonian credit risk manager.
Swedbanks also named Gunnar Toomemets, a former leasing division director, as the new manager of its private banking department. He takes the position left vacant by Kadri Vunder-Fontana, who is on maternity leave.
Amsterdam-listed Van Lanschot said Paul Loven is to step down from its board of managing directors in order to take up the chief financial officer role at Dutch pension fund PGGM in November.
Mr Loven was appointed to the board in August 2005, with responsibility for finance and control, operations and IT; his duties will be assumed by other board members until a successor is found, Van Lanschot said.
Hauck & Aufhäuser said Micheal Bentlage will join its Munich office as a partner on 1 October.
Mr Bentlage – former chief investment officer at BayernInvest - will replace Dr Alfred Junker, who is to retire. In his new role Mr Bentlage will be responsible for asset management, stock trading, and treasuries of institutional clients.
Carmignac Gestion, the French investment firm, has appointed Mischa Cornet as head of development for professional clients in the Netherlands, Belgium and Luxembourg.
The appointment sees Mr Cornet make a return to Carmignac Gestion, where he had been sales director for Germany between 2004 and 2006.
In his new role, Mr Cornet’s remit is to develop the company’s presence among professional clients in the Benelux countries and he reports to Patrick Giry, managing director of Carmignac Gestion Luxembourg.
Middle East
Barclays Wealth, the private client arm of UK bank Barclays, appointed Fawaz Baba as a managing director for its Middle East operations and general manager of the firm’s Dubai office.
In his new role Mr Baba assumes responsibility for the day-to-day management of the Dubai office, reporting to Soha Nashaat, chief executive of Barclays Wealth, Middle East and North Africa.
Mr Baba joins the firm from Bahrain-based Investcorp Bank BSC, where he was a principal focusing on the development of strategic relationships for co-investments in the firm’s platforms.
The chief executive of Dexia Private Bank (Switzerland) in Bahrain left the bank and returned to Switzerland, as exclusively reported by WealthBriefing.
Markus Hermanek has left the firm’s office in Manama but his future plans are as yet unknown.
Mr Hermanek has been replaced by George Karam, who was appointed internally.
Asia Pacific
A team of UBS wealth managers in Singapore, focused on the non-resident Indian market left for Barclays Wealth. The new team which includes Srinivas Siripurapu, head of Southeast Asia and South Asia, Parminder Soin, senior advisor, Markus Grossmann, as deputy country team head, and Jagdish Upadhyaya, the bank's desk head in Hong Kong.
UBS appointed Lee Boon Keng as the new chief investment strategist for its Singapore wealth management unit.
HSBC Bank Australia named Geoffrey Pidgeon as the new head of HSBC Global Investments' wholesale wealth management operations. He will be responsible for the distribution of structured products and managed funds into the Australian advisor market.
Citi named Debashish Duttagupta as the new head of investments for Citi Asia Pacific's wealth management operations. Mr Duttagupta, will lead a 150-strong investments unit that will serve clients within the retail to mega-wealth demographic in the Asia-Pacific.
ANZ named Craig Sims as head of integration for the RBS takeover. Meanwhile, RBS head of retail banking for Greater China and Southeast Asia Wendy Lim will assume the role of managing director, retail banking and wealth products for Asia-Pacific.
HSBC Bank Australia named Geoffrey Pidgeon as the new head of HSBC Global Investments' wholesale wealth management operations.
Northern Trust, the Chicago-based bank, appointed Teresa Parker as the new chief executive officer for the Asia-Pacific region. Jonathan Chai, left his role as chief financial officer at Julius Baer and member of the management committee in Singapore.
Garant Partners, the international law firm that offers wealth management and estate planning representation, appointed Patrick Leung as the new chairman of its Hong Kong office.
SBC Private Bank bolstered its Global South Asian Diaspora
team with the appointment of Priya Mallik as a senior
relationship manager in North India.
Manulife (International) Limited appointed two senior
executives in its Hong Kong office. Emil Lee was named vice
president and chief agency officer for the firm's Hong Kong unit
while insurance veteran Doris Chan was made head of sales and
marketing, employee benefits.
Citi
Citi re-hired Minggao Shen for the newly-created position of chief economist for Greater China. Mr Shen was the senior China economist for the bank until July 2008, after which he joined Caijing Magazine as chief economist.
Vinay Gandhi resigned from Deutsche Private Wealth Management in Singapore. He was head of the non-resident Indian team for South East Asia. Evercore Partners, the global investment management boutique appointed Stephen CuUnjieng as senior advisor. He will focuson advising the region's leading firms.
The Asian private banking divisions of RBS Coutts is to be managed by Nick Pollard, as the new head of its international private banking arm. Hang Seng Bank, which is owned by HSBC, made several changes to the membership of its board of directors. Dorothy Sit, was appointed non-executive director, William Leung, general manager, was made executive director and head of personal banking. Meanwhile Joseph Poon will step down from the board and his management position on 30 September.
Mr Edgar Ancona, chief financial officer of HSBC and non-executive director of Hang Sengm has left the company’s board to assume the CFO post at HSBC North American Holdings.
Abu Dhabi Islamic Bank appointed Malik Sarwar as global wealth management executive to lead the UAE bank’s offering of high net worth and affluent Islamic wealth management services.
Seoul-based asset manager NH-CA Asset Management appointed Yang Hae-man as its new chief investment officer. The company is a joint venture between the National Agricultural Cooperative Federation - also known as Nonghyup - and Credit Agricole Asset Management.
Manulife Asset Management, the asset management arm of MFC Global Investment Management, has bolstered its expansion plans into Asia with the appointment of Liu Yii as its new head of equities.
Brazil-based BTG Investments has appointed former Citadel Investment Group special situations investment manager Donald Ewer to lead its Asian credit strategy as part of an asset management expansion plan. Mr Ewer recently joined the Sao Paulo-based company's Hong Kong office and will initially be responsible for handling investments on illiquid Asian credit, including high-yield bonds and private equity.
Prudential Asset Management, the fund management arm of Prudential Corporation Asia, named Gaurav Kumar as the new chief executive officer of its Dubai operations. MLC, the wealth management arm of National Australia Bank, appointed Matt Thompson to the newly-created role of head of national account and researcher relationships.
DIAM, a Japan-based asset manager, named Mizuho Corporate Bank's Norio Nakajima as its new president and chief executive officer.
International
Citi Private Bank appointed Shantanu Rastogi as global head of investments, a Singapore-based role which carries responsibility for the private bank’s investment platform covering North America, Latin America, EMEA and the Asia Pacific regions.
UBS made several key hires for its fixed-income, currencies and commodities division. Dimjtri Psyllidis is new global head of macro, reporting to Carsten Kengeter and Jeffrey Mayer. Bobby Gerjarusak joined UBS from Goldman Sachs and will be the firm’s head of FICC structuring in the Asia-Pacific area.
The firm also made hires at its Stamford, Connecticut office in the US, where Anatoly Nakum was appointed head of investment grade trading along with Nahil Bayrasli, working in UBS's flow CDS business, Dan Brereton, new head of high yield trading, Jeff Cahoon, who joins the telecom team, and Todd Corsair, working as a credit analyst. They will all report to Sean Dowd.
The emerging market business will now be co-headed by Rajeev Misra and Ritesh Dutta. Jim Lanzilotti, who has previously been with SAC Capital Advisors and Lehman Brothers joins as head of Latin America FX and rates trading, partnered with Drew Dragoumis, the new head of Latin America credit/sovereign trading.
Allan Grauer also joins UBS as senior LatAm sovereigns trader. Andreas Fugman, from JPMorgan, went to EM structured rates; Anthony Chuah, from Standard Chartered, went to EM rates trading business; Daniel Brader, from Dresdner Bank, joined EM FX option trading and Siddarth Mathur, from JPMorgan, now world with UBS as EM rates strategist.
Former Nomura employee Kai Herbert joined UBS as an FX trader in Zurich.
UBS also made several hires within FICC distribution, including those of Andrew Crowston and Pablo Terpolilli, who have both been with Goldman Sachs for its leveraged finance sales team in London.
Steve Murphy, joined UBS’s London office from Deutsche Bank , and will run UK rates real money clients.
Based in Frankfurt, Oliver Chappell, from Morgan Stanley, was appointed UBS co-head of FICC Germany.
Mark Fox, from the UBS wealth management division, now heads heading EM distribution in EMEA.
FICC distribution hires also took place at UBS in Asia, where Jerry Ifill from Merrill Lynch now covers hedge funds for macro Asia and Karen Lo, from DEAM , will work with institutional clients. Both based in Hong Kong.
Rei Kawasaki joins the UBS from Morgan Stanley, covering the institutional client business in Japan and Chris DeMarco, who has been with Merrill Lynch and Bear Stearns, is UBS’s new client relationship director for hedge funds, based in Stamford.
RBS Wealth Management appointed Gerhard Mueller to be the new
head of its international private banking arm.
Based in Zurich, Mr Mueller’s -who’s responsibilities as chief
executive of RBS Coutts Bank already include three private
banking divisions which cover central and eastern Europe, Latin
America, the Middle East, Europe and Switzerland-will now take
over management responsibility for the Asian private banking
divisions and an international private banking team based in
London. In his new role he will be appointed to the executive
committee of RBS Wealth Management, Switzerland.
Guernsey-based fiduciary and family office advisory business Opus Group appointed Andrew Young to help spearhead its expanding international business. Mr Young was previously head of London-headquartered law firm Lawrence Graham’s private capital practice. He will continue to be based in Dubai, supporting Opus’s new office in the region, but will primarily be working with the group’s client base internationally.
The Bank of New York Mellon appointed of its very first India head, Navneet Singh. Mr Singh, who was previously with Standard Chartered, will be taking up the post as the bank's country executive and chief representative.