Dixon and Bruni become co-heads of Tradeweb Global Markets
Tradeweb announced that Enrico Bruni and Troy Dixon have been named to the newly-created roles as co-heads of Global Markets. Reporting to Tradeweb CEO Billy Hult, Bruni and Dixon will share responsibility for overseeing execution of the Company’s global markets strategy, including pursuing both organic and inorganic growth opportunities across products, geographies and our four client channels.
Bruni is presently managing director and head of Europe and Asia Business at Tradeweb, a position he has held since 2013. He joined Tradeweb in 2002 and has been instrumental in developing the company’s interest rate swaps business in Europe and Asia. He previously worked at J.P. Morgan, where he held a number of business and product management roles across the markets division, with particular focus on e-trading strategy.
Dixon has nearly 30 years of financial services industry experience, most recently the founder and chief investment officer of Hollis Park Partners, an alternative asset manager that specializes in structured products. He previously led RMBS trading at UBS from 2002 to 2006 and was at Deutsche Bank from 2006 to 2013, where he was also a member of the Corporate Banking & Securities Americas Executive Committee and the Rates and Credit Trading Executive Committee.
Hult said in a statement: “In recent years, Tradeweb has experienced substantial growth driven by accelerated adoption of electronic trading, entry into new markets and channels, and selected acquisitions. To ensure we are best managing the business today and taking advantage of ongoing strategic opportunities, we are delighted that Enrico will further expand his role and that Troy will join our management team to co-lead our global markets business.”
SWIB hires Arnholz for liquidity operations
The South Wisconsin Investment Board (SWIB) announced that Chris Arnholz has been appointed as Fund & Liquidity Operations manager. Arnholz joins from Deutsche Bank, where he was most recently vice president for Cleared OTC operations.
“Chris’ experience and knowledge will help SWIB support one of the only fully funded public pension funds in the country,” SWIB wrote on Linked In.
State Street appoints Al Hassoun as head of KSA/Bahrain and hires Li for into MD and seclending role
State Street announced that Majed Al Hassoun will be country head for Saudi Arabia and Bahrain to drive and execute the firm’s Investment Services and Global Advisors strategy.
Reporting to Oliver Berger, head of Strategic Growth Markets at State Street, and Emmanuel Laurina, head of Middle East, Africa and Official Institutions at State Street Global Advisors, Al Hassoun will drive the firm’s Middle East growth strategy for Saudi Arabia and Bahrain, and be responsible for the development and execution of an enterprise-wide approach to grow State Street’s business in these markets.
Based in Riyadh, Al Hassoun will act as CEO of State Street Saudi Arabia Financial Solutions and will be responsible for ensuring the entity’s compliance with regulatory and legal expectations.
Berger said in a statement: “Our Investment Services and Global Advisors businesses are going through a significant growth journey. We are pleased to have Majed, whose experience and network will be invaluable to State Street, to join us in implementing our growth strategy in the Middle East, driving business growth as well as strengthening our presences and connections in Saudi Arabia and Bahrain.”
Laurina said in a statement: “Majed has two decades of experience in the financial services industry, and his credential as a senior leader speaks volumes, making Majed a great asset to the firm. We are all excited to have Majed as a member of the core team to deliver our ambitious plan.”
Al Hassoun said in a statement: “State Street’s global strength and expertise are two of the many things that truly set the firm apart. I am thrilled to join the talented team of investment services and asset management experts, and look forward to working with them to create synergy across functions and further grow our presence in the market.”
In a separate appointment, Securities Finance Times reported that State Street Global Advisors (SSGA) that Citi’s Louisa Li has been hired as a managing director and securities lending global business development manager. In this position, she will lead business development efforts and support SSGA sales teams of the securities lending product to their clients.
In addition, SSGA’s president and CEO Yie-Hsin Hung has been named to Forbes’ 2024 Most Powerful Women list. She assumed the role in December 2022 and was previously the CEO of New York Life Investment Management and held leadership roles at Bridgewater and Morgan Stanley. She is also vice chair of the Board of Governors of the Investment Company Institute and part of the National Association of Corporate Directors.
Broadridge promotes Ghei to CFO, Citi’s Cowley takes ICS role
Broadridge Financial Solutions announced that the Board of Directors has appointed Ashima Ghei as chief financial officer (CFO). Ghei has led Broadridge’s global Finance team as Interim CFO since July 1, 2024, and has been instrumental in driving the company’s financial strategy and execution forward in the first half of the 2025 fiscal year.
“I have had the pleasure of working with Ashima over the past two years and even more closely this past six months, during which time she has been a key partner to me and the rest of the leadership team as we execute on our long-term growth plan,” said Tim Gokey, Broadridge’s chief executive officer, in a statement. “She is a strategic leader with a proven track record of delivering results, and I am confident that with Ashima as CFO, Broadridge will continue to provide trusted and transformative solutions to our clients and deliver strong returns to our shareholders.”
Ghei joined Broadridge in January 2022 as CFO of Broadridge’s Investor Communications business (ICS), where she was a key partner to the leadership team, spearheading investment optimization, product profitability initiatives, pricing, contract negotiation, and planning and analytics. She also played a critical leadership role in shaping the future of Broadridge’s Governance business as it has delivered profitable growth from both organic initiatives and M&A. Prior to Broadridge, Ghei had an 18-year career with American Express, where she most recently served as its head of Merchant Pricing for the Americas.
Ghei said in a statement: “Broadridge is well positioned to help our clients drive innovation and deliver shareholder value through steady and sustainable revenue and earnings growth, disciplined investment, and strong financial management.”
In a separate announcement, Mike Cowley was named head of International Investor Communications Service Delivery business. Based in London, Cowley will lead Broadridge’s services for Global Proxy Operations and Corporate Governance, working on the end-to-end service delivery.
“Mike brings over three decades of experience in the post-trade industry and has successfully led global teams in both product and operations arenas, delivering exceptional results,” said Demi Derem, SVP of International Investor Communication Solutions at Broadridge, in a statement. “His appointment demonstrates our ongoing commitment to working with the best industry talent to help our clients better operate, innovate and navigate the increasingly challenging regulatory landscape.”
“I am excited to be joining Broadridge and utilizing my experience collaborating with business stakeholders and a broad global customer base to drive further efficiency across multi-locational operations,” Cowley said in a statement. “I admire and share the company’s unwavering commitment to delivering a differentiated client service experience that drives the democratization of investing for both institutional and retail sectors.”
Cowley has extensive experience working with Central Securities Depositories (CSDs), exchanges, sub custodians and global custodians, positioning him to help refine and harmonize operational processes across markets. His previous role was global head of Asset Services Product Development at Citibank where he led initiatives to enhance service delivery. Prior to this, he served as global head of Custody and Domestic Fund Services Operations at Deutsche Bank where he managed multinational teams covering a range of operational frameworks.
ESMA taps Sabatini to lead T+1 migration in EU
The European Securities and Markets Authority (ESMA) announced that industry representatives active in the post-trade sector have reached agreement to designate Giovanni Sabatini to act as Independent Industry chair leading their work to facilitate the migration to T+1 in the EU. This role will play a key role in guiding the work of the industry and acting as the link between the industry and the public sector working to shorten the settlement cycle.
Sabatini has a long-standing experience working in securities markets both in the private and public sector. He has inter alia served as a member of the European Economic and Social Committee and held roles within the International Organization of Securities Commissions – IOSCO, the European Banking Federation and the European Central Securities Depositories Association (ECSDA).
Bloomberg: Republican lawmaker Hill to lead House Financial Services Committee
A powerful House panel overseeing financial regulators and Wall Street is set to gain a new chair who has cryptocurrency and banking deregulation at the top of his agenda as Republicans prepare to take unified control of Washington in January, reports Bloomberg.
Representative French Hill, a former banker who has worked at the US Treasury Department, bested three other Republicans to win the gavel of the Financial Services Committee, a position from which he plans to push a massive policy repositioning from the Biden administration.
ECB appoints OeNB’s Turner-Hrdlicka in director general role
The Executive Board of the European Central Bank (ECB) has appointed Karin Turner-Hrdlicka as director general for On-site and Internal Model Inspections. In her new role, she will be responsible for on-site inspections and internal model investigations of directly supervised banks across the Single Supervisory Mechanism. She will also contribute to the identification of risks and supervisory priorities in the banking sector. She succeeds Linette Field, who will retire from the ECB.
Karin Turner-Hrdlicka has been director of the Department for the Supervision of Significant Institutions at the Oesterreichische Nationalbank (OeNB) since 2014. Her responsibilities include managing the OeNB’s activities in the supervision of Austrian significant institutions, overseeing policy and regulatory issues, and conducting stress testing and scenario analyses for the national banking sector.
She is the OeNB representative in the Board of Supervisors of the European Banking Authority, OeNB alternate in the Supervisory Board of ECB Banking Supervision and member of the Supervisory Board of the Austrian Financial Market Authority. She started working at the OeNB in 2001. Early in her career, she was a member of the interim Secretariat of the Committee of European Banking Supervisors.
ISDA Board elects HSBC’s Krens as chair after Litvack steps down
The International Swaps and Derivatives Association (ISDA) announced that its Board of Directors has elected Jeroen Krens as its new chair. The move follows the decision of former chair Eric Litvack to step down after 10 years in the role.
Jeroen Krens is managing director and COO for Markets & Securities Services at HSBC. He has worked for HSBC for 10 years and has had two stints on the ISDA Board – from January 2012 to February 2014 while working at Royal Bank of Scotland and since November 2016 while at HSBC.
Litvack, who is managing director and Group director of Public Affairs at Société Générale, joined the ISDA Board in November 2006 and took on the role of chair in January 2015, making him the longest-serving chair in ISDA’s 40-year history.
During his chairmanship, ISDA has taken a leading role in several critical regulatory and market reforms, including the transition from LIBOR and the development of robust contractual fallbacks based on risk-free rates, implementation of new margin rules for non-cleared derivatives and the creation of the ISDA Standard Initial Margin Model, and the shift to greater automation and digitization of derivatives markets. The structure and governance of the Board has also been transformed under his watch. The Board now has representation from a broader universe of derivatives users and greater gender diversity, with the proportion of women increasing from 11% to 38% over 10 years.
“Together as an industry, we have solved some of the biggest challenges ever to face our markets, including finalizing post-crisis regulatory reforms and the transition from LIBOR, and ISDA is well positioned to tackle the challenges ahead. Now is the right time to hand the torch to the next generation of leaders, and I’m very confident that Jeroen will do a terrific job as he takes the helm during the next phase of the derivatives market’s development,” Litvack said in a statement.
“Eric has chaired the Board during a period that included the post-crisis regulatory implementation process, the coronavirus pandemic and the transition from LIBOR. Throughout, he has been committed to serving the industry and ensuring derivatives markets function efficiently. I’d like to thank him for his leadership, partnership and support,” said Scott O’Malia, ISDA’s chief executive, in a statement.
“I would also like to welcome Jeroen as new Chair. I know that we share a vision of bringing greater automation and digitization to the derivatives markets to improve efficiency and reduce costs. I look forward to working with Jeroen and his HSBC colleagues to make this vision a reality and to expand derivatives markets across the globe,” O’Malia said in a statement.
“ISDA was established in 1985 to bring standardization and common legal documentation to derivatives markets, an objective that remains just as relevant today. I’m looking forward to working with my colleagues on the Board, Scott and the ISDA team as we continue realize ISDA’s mission of ensuring derivatives market are safe and efficient,” said Krens in a statement.
SEC names LaMothe for acting director of Corporation Finance Division
The Securities and Exchange Commission (SEC) announced that Erik Gerding, director of the Division of Corporation Finance, will depart the agency and Cicely LaMothe will serve as acting director.
SEC chair Gary Gensler said in a statement: “During his time of service, we’ve adopted important reforms regarding corporate governance to better promote trust in the markets. We’ve adopted important reforms to enhance investors’ access to full, fair, and truthful information, a founding principle of our securities laws. I wish him very well in his next pursuits. I also want to thank Cicely for stepping up as Acting Director and for being a longstanding leader within the Division.”
Gerding joined the SEC in October 2021 as a deputy director of the Division of Corporation Finance, where he led Legal and Regulatory Policy. He became the Division’s director in February 2023. In that role, Gerding led the Division as it recommended rules to the Commission on climate-related disclosures for investors; cybersecurity risk management, strategy, governance, and incident disclosure by public companies; and special purpose acquisition companies.
LaMothe currently serves as deputy director for Disclosure Operations in the Division of Corporation Finance. She previously was the Program director of the Disclosure Review Program, associate director of the Office of Assessment and Continuous Improvement, and associate director of Disclosure Operations. Before coming to the SEC, LaMothe worked for six years in the private sector, including as the financial reporting manager for a public company and as a senior associate with a national accounting firm.
Gibson appointed to New York Fed’s Second District Advisory Council
The Federal Reserve Bank of New York announced the appointment of John Gibson to the New York Fed’s Second District Advisory Council. The Council is comprised of senior business leaders who provide the New York Fed President and New York Fed leadership with high-level insights about business and economic conditions the district.
Gibson is president and chief executive officer of Paychex, a benefits, human resources, and payroll company based in Rochester, N.Y. Before becoming CEO in 2022, Gibson served as the firm’s president and chief operating officer for one year. He joined the company in 2013 as its senior vice president of service. His previous experience includes senior roles at AT&T and Convergys, where he was president of the human resources management division. Gibson earned a B.A. at Indiana University.