ING promotes Storr to new heads in UK expansion push
ING announced that Andrea Storr is the new Head of Lending UK as part of the global bank’s broader Wholesale Banking strategy. Storr joined ING in 2012 and successfully led the Acquisition Finance business in Germany, Austria and Switzerland.
In 2020, Storr was appointed head of Acquisition Finance US and in 2023 she returned to Europe as global head of Acquisition Finance Portfolio Management. Before joining ING, Andrea gained extensive experience at Commerzbank in London and Frankfurt working across Equity Capital Markets, Sectors and Leveraged Finance, and at PwC in London.
In her newly-created role, she will be responsible for broadening the regional and local lending strategy, driving capital velocity, and taking local ownership of implementing themes related to the lending product. Andrea will oversee our newly created Transaction Management and Portfolio Management teams, which are part of the new Lending function.
ING’s head of Wholesale Banking EMEA, Eva Smolen, said in a statement: “Andrea’s appointment is a crucial part of our strategy to drive market growth and our global strategic priorities for lending in the UK. Her substantial banking experience will be invaluable for leading and managing the newly established lending teams and ensuring smooth collaboration between internal and external stakeholders. Her leadership in this new role will ensure that we continue to strive for the best value for our clients whilst maintaining our sustainable finance approach.”
Storr said in a statement: “I am delighted to step into this new leadership role at ING UK during such an exciting time for the bank and its lending teams. “My goal is to translate our global lending strategy into a UK context, ensuring we deliver innovative and sustainable financial solutions to our clients.”
In addition, Alexandra MacMahon has become UK Country manager for its wholesale business, ING announced. She will start in Q1 2025 and joins from Santander, where she is head of the UK Corporate and Investment Bank. MacMahon has a 30-year track record in banking at Santander, Citi, and Morgan Stanley along with deep knowledge of the UK market.
In her new role, MacMahon will be responsible for a team of almost 750 staff and clients that include more than 60% of the FTSE 100. She succeeds Malgorzata Kolakowska who has led the UK team with distinction from 2018 into a double-digit growth trajectory through both Brexit and the coronavirus pandemic. Malgorzata is on the Supervisory Board of ING Bank in Poland and will continue to build her portfolio of non-executive board positions.
MacMahon said in a statement: “My focus will be to build on ING’s strong foundations, leading the UK teams to seize key opportunities for growth and sustainability, while fostering strong relationships with our clients.”
Smolen said in a statement: ““We are deeply grateful to Malgorzata for her outstanding leadership and impactful contributions to ING’s global business over many years, including as the CEO of ING in Poland, global head of the Wholesale Banking network based in Amsterdam and almost seven years at the helm of ING in the UK. “We’re also delighted to welcome Alexandra whose experience and vision will help us continue to strengthen and grow our presence in the UK market as we drive forward our ambition to be the best European Wholesale bank.”
Broadridge hires Fellah as VP for AI Trading Solutions
Broadridge Financial announced the appointment of David Fellah as vice president of AI Trading Solutions based in New York. He will report to Roger Burkhardt, enterprise head of AI and Data and CTO of Capital Markets. In this newly created role, Fellah will be instrumental in leveraging data, AI, and analytics to deliver solutions that enable clients to improve trading strategies and reduce costs.
With nearly thirty years of expertise at the cutting edge of trading technology, quantitative research, and advanced analytics, he brings significant leadership experience from roles at Instinet (Nomura), ITG, and J.P. Morgan.
“David brings a holistic understanding of the financial and technological considerations that front-office traders face,” Burkhardt said in a statement. “His experience and success underscore our commitment to investing in AI-powered innovations that deliver meaningful and differential value to global markets.”
“I’m thrilled to join Broadridge, a trusted leader in global trading technology, and am eager to apply my industry experience to develop leading, multi-asset trading solutions that equip our clients with the agility to grow,” said Fellah.
Pandes joins IIAC in advisory role
The Investment Industry Association of Canada announced that Ari Pandes, associate dean of Professional Graduate Programs, and Associate Professor of Finance Haskayne School of Business at the University of Calgary, will become an Advisor to the IIAC.
Pandes’ research focuses primarily on issues in corporate finance, law and finance, and entrepreneurial finance. He has presented his research at top international finance conferences, various universities internationally, and is a frequent presenter to policymakers, regulators, and industry groups including the US Securities and Exchange Commission, the Bank of Canada, and the Canadian provincial securities regulators.
Ed Corral retires from J.P. Morgan
Ed Corral, aka “the Duke”, will be retiring from J.P. Morgan as managing director and global head of Collateral Strategy. He joined J.P. Morgan in his current role in 2019 and has previously worked at Morgan Stanley as well served in other roles at J.P. Morgan.
“Thank you all. It’s always been about the people and I couldn’t have been luckier throughout the years. Looking forward to seeing you all when the next opportunity presents!,” he wrote on Linked In.
BBVA’s Semaan to lead LCH RepoClear
LCH announced that Michel Semaan has joined as the new global head of RepoClear. He will lead RepoClear in the next phase of growth across Europe and the UK, focusing on the expansion of its clearing membership and the development of RepoClear’s Sponsored and Guaranteed Sponsored Clearing models. Semaan will report to Corentine Poilvet-Clédière, CEO, LCH SA, and Isabelle Girolami, CEO, LCH Ltd. and he will join their respective leadership teams.
Semaan brings over 25 years’ experience in repo markets and a wealth of expertise in trading and global financial markets in the areas of secured and unsecured funding. He is a highly experienced leader of trading teams and businesses, with extensive experience of building and diversifying revenue streams. Most recently, he served as the global head of Securities Financing at BBVA.
Daniel Maguire, group head of LSEG’s Markets division and CEO, LCH Group, said in a statement: “Access to cleared repo has proven critical over the last few years with an increasing number of market participants looking to RepoClear to optimize their resource efficiency, improve their risk management practices, and reduce their costs. Michel’s experience will be invaluable as we look to focus on delivering new services across RepoClear and diversifying our membership over the years to come.”
BMO appoints exec to oversee AI and Data and new Board members
BMO announced the appointment of Kristin Milchanowski as its new chief artificial intelligence and data officer. She will drive BMO’s artificial intelligence (AI), data, analytics, and robotics strategies and supporting technologies, championing a transformative AI roadmap that optimizes and enhances business value. Additionally, she will focus on data management and data governance across the organization, deepening the bank’s robust and established culture of innovation and accountability.
“Kristin brings extensive knowledge and expertise in transforming businesses by leveraging the full potential of their data and technology,” said Steve Tennyson, chief technology & operations officer at BMO, in a statement. “I look forward to working with Kristin as we advance our Digital First strategy and harness the power of AI solutions that will differentiate the digital experience for our customers and colleagues.”
Milchanowski is a global AI executive with more than 20 years of experience, most of that in the financial sector. Most recently, she was a Global Innovation Partner / Principal at EY, focused on AI, High Process Computing and Quantum technologies. This appointment builds upon BMO’s significant investments in AI.
In addition, BMO announced the appointment of Diane Cooper and Brian McManus to its Board of Directors. “We are pleased to welcome Diane and Brian to the Board of Directors,” said George Cope, chair of the Board, in a statement. “They each bring significant skills and experience and will be a valuable addition to our board.”
Cooper was formerly president and CEO of GE Capital’s Commercial Distribution business and an officer of GE Company. She also led the GE Capital Equipment Finance and Franchise Finance businesses and previously held senior roles in Franchise Finance, Real Estate and Consumer Finance at GE. Cooper currently serves as a Board member and Risk Oversight and Capital Committee chair at BMO’s U.S. subsidiary, BMO Financial Corp.; Board member at BMO Bank N.A.; and Board member and Risk Committee chair at StoneX Group.
McManus is the executive chair of Polycor Inc. a firm in the natural stone industry. Prior to that, he served as executive chair and CEO of Uni-Select after many years as president and CeO of Stella-Jones. McManus currently serves as a Board ,ember and Audit Committee chair at Metro Inc.
Carlos Hernandez elected as MarketAxess Board chair as McVey retires
MarketAxess announced that founder and executive chair Rick McVey will retire at the end of the year. Carlos Hernandez will succeed McVey as chair of the Board of Directors, effective January 1, 2025. McVey has agreed to remain as the chair of the Board of Directors of MarketAxess’ international holding company.
McVey founded MarketAxess in 2000 and is a visionary in the evolution of fixed income market structure. Under his leadership, the company grew to become a global, S&P 500 company that has transformed the way the world’s largest capital market operates worldwide. McVey stepped down as CEO of MarketAxess in April 2023 after 23 years in that role, and has since been serving as executive chair of the Board.
“Rick’s bold vision for the company nearly 25 years ago not only revolutionized trading forever, but also created an outstanding organization in the process,” said Chris Concannon, CEO of MarketAxess, in a statement. “I’d like to congratulate Rick on an incredible accomplishment and thank him for the opportunity to lead the company as we continue to transform global markets.”
“The last quarter century has been an incredible journey, and it was an honor to lead this organization from a startup to a position of global leadership. None of this could have been possible without the skill and dedication of our management team, employees, and board of directors,” said McVey. “Most importantly, I am grateful for the tremendous support we enjoy from our dealer and investor clients around the world. The future of MarketAxess is bright and I am confident under Chris’ leadership we will continue our track record of innovation and growth to create lasting improvements for global fixed income markets. I look forward to my continued involvement on the Board of MarketAxess Limited as we continue to expand our reach in international financial markets.”
Hernandez previously served as a director from 2006 to 2019 and rejoined the MarketAxess Board in September 2023. Hernandez, who is designated as an independent director, currently serves as chair of the Board’s Compensation and Talent Committee. Hernandez retired from J.P. Morgan in April 2023 after 37 years of service. Prior to his retirement, he was executive chair of Investment and Corporate Banking at J.P. Morgan and served as a member of the Operating Committee and a Member of the Corporate & Investment Bank Management Team.
“Having watched firsthand this incredible company that Rick McVey built, consistently challenge norms, break records and set new standards for fixed-income electronification for over two decades—I am incredibly honored to succeed him as Chairman,” said Hernandez. “I look forward to working closely with Chris Concannon and our seasoned management team during this next phase of MarketAxess as we find new ways to make one of the world’s leading fixed income marketplaces even better.”
FINBOURNE appoints Jordan as VP of Finance
FINBOURNE Technology announced the appointment of Christopher Jordan as VP of Finance. He previously advised FINBOURNE on the company’s £55 million ($70.9mn) Series B funding round, which was supported by Highland Europe and AXA Venture Partners. Working closing with the senior leadership team as FINBOURNE’s VP of Finance, Jordan will play a pivotal role in driving the next phase of the company’s growth overseeing the organization’s financial and capital allocation strategy.
He brings a wealth of experience in investment banking and corporate development including roles at Santander Corporate and Investment Banking, Torch Partners and Clearwater International. He was also head of Corporate Development for fintech unicorn, Wayflyer. He has extensive experience in advising fast-growing companies on capital-raising, disposals and acquisitions.
Thomas McHugh, CEO and co-founder of FINBOURNE Technology, said in a statement: “Chris’s extensive background in investment banking and corporate development makes him an invaluable addition to FINBOURNE as we continue to drive rapid and sustainable expansion. We are confident that he will help guide us through the pivotal moments of our growth and transformation as we continue to scale.”
Jordan said in a statement: “It was a pleasure to advise FINBOURNE during the Series B fundraising process. FINBOURNE has an exceptional product SaaS platform that is enabling many of the world’s biggest financial institutions to make better, faster decisions in a constantly evolving market.”
Morgan Stanley’s Adair and Escobedo join Taskize in BizDev roles
Taskize announced the appointment of Helen Adair as global head of business development and Alfred Escobedo as head of business development for the Latin America region, bolstering its global leadership team.
Adair brings nearly two decades of experience in financial leadership positions at major investment banks. Most recently, she held the role of global head of client onboarding at Morgan Stanley, having previously spent over 12 years at J.P. Morgan. Based in London, she will be responsible for spearheading the global growth strategy of Taskize.
Escobedo joins from Euroclear-backed, Brussels-based sustainability software provider Greenomy, where he served as a senior advisor for the LatAm region. He began his career with Citi and brings over 20 years of experience in building teams and networks to drive revenue growth.
Adair said in a statement: “With significant regulatory changes on the horizon, including the EU and UK move to T+1, Taskize is playing a vital role in improving the operational efficiency of firms within the financial services industry. I’m delighted to be joining the Taskize team, where I can leverage my experience to help further this mission.”
Escobedo said in a statement: “Taskize offers an invaluable solution in resolving post-trade issues, a much-needed service for the financial industry in the LATAM region. I look forward to contributing my knowledge of the region to help expand Taskize’s global footprint.”
James Pike, interim CEO of Taskize, said in a statement: “As the industry grapples with increasing regulatory complexity across multiple divergent jurisdictions, the demand for our solutions is increasing. The combined wealth of experience that Helen and Alfred bring will make them invaluable assets in helping drive this growth.”
Capital. com set to double technology team amid strong growth
Capital.com, the high-growth global trading platform and fintech group whose trading volumes surpassed $1 trillion in 2023, announced total client trading volumes reached over $450 billion in Q3 2024, a 20% increase from Q2 2024, affirming the company’s steady growth trajectory. Over the same period, new user accounts were up by 9%, and the total number of trades executed on the platform grew by 19% to 31 million from the previous quarter.
It will be ramping up its investment in technology, with plans to double its technology and engineering in the next 12 months. To support its clients with a diverse range of products and solutions, the company is hiring 200 new professionals across its global network of offices.
“As a tech-first company, expanding our engineering team is crucial to scaling our services and meeting the demands of our growing global client base,” said Dana Massey, chief marketing, product and technology officer at Capital.com, in a statement. “We’re looking to bring on top talent from around the world across engineering, technology support, and development to ensure Capital.com remains at the forefront of fintech innovation.”