Elhedery appointed as HSBC Group CEO
HSBC announced that Georges Elhedery has been appointed as Group chief executive. He joined HSBC in 2005 and was appointed to the Board and as Group chief financial officer in January 2023. He previously served as co-CEO of Global Banking & Markets, where he also led the Markets & Securities Services division. He led the Group’s Middle Eastern, North Africa and Turkiye region as CEO from July 2016 to February 2019.
HSBC chair, Mark Tucker, said in a statement: “Since joining the Board as Group chief financial officer in early 2023 and throughout the selection process, [Elhedery] has demonstrated his strategic insight and vision, and deep international perspectives. The Board concluded that Georges was the outstanding candidate and we look forward to working together as he leads HSBC through the next phase of development and growth.”
Elhedery said in a statement: “Working together with our talented team, I look forward to delivering exceptional value to our clients and investors by driving strong performance on a sustainable growth trajectory.”
Noel Quinn will step down as CEO and as an executive director of the Board. An announcement in relation to Elhedery’s successor as Group CFO will be made in due course.
Tucker said in a statement: “I would like to express my warm and sincere thanks to Noel for his leadership of the Group over the past five years and for his loyal commitment to the Group for 37 years.”
J.P. Morgan’s Evans joins PASLA as new board member
PASLA announced that Rob Evans, APAC head of Triparty and Collateral Services at J.P. Morgan has joined its Executive Committee. Evans has been with J.P. Morgan for almost 15 years including positions in London, New York, and Hong Kong.
“PASLA looks forward to his contributions to the region. PASLA remains committed to growing the association and advancing securities finance in Asia markets,” the association wrote on Linked In.
Theodorou appointed head of ING’s DCM UK Syndicate as Riche retires
ING announced Dimis Theodorou has joined ING as a managing director and head of DCM [Debt Capital Markets] UK Syndicate with a focus on high yield, emerging markets and bank and insurance capital. He will report functionally to Kris Devos, the global head of Syndicate, and locally to Mathias Blumschein, the head of High Yield DCM and DCM UK.
Theodorou joins ING following 20 years of debt capital markets syndicate experience at J.P. Morgan across a wide variety of debt asset classes and instrument types.
Mike Koerkemeier, ING’s head of Global Capital Markets, said in a statement: “This appointment highlights ING’s commitment to its Global Capital Markets franchise and is a core aspect of our continued investment in growing and strengthening our public debt financing capabilities. Dimis brings a wealth of experience and expertise that will further reinforce our focus and the value-added that we bring to our issuer client base.”
Eden Riche, previously the head of High Yield and Emerging Markets Syndicate, has decided to retire following more than 40 years in banking across a variety of roles to focus on projects outside the bank.
Devos said in a statement: ”During his nine years at ING, Eden has been instrumental in growing the High Yield and Emerging Markets DCM business, ensuring consistency and professionalism across all aspects of the London-based syndicate team.”
SFT: B. Riley Securities appoints Primiano in securities lending division
Rob Primiano has joined B. Riley Securities as vice president of the firm’s securities lending division, reports Securities Finance Times. Based in New York, Primiano will work as a securities lending trader for the sales desk.
He joins the firm from Axos Clearing, a subsidiary of Axos Financial, where he served as vice president of the securities lending division for more than a decade. Previously, he worked in securities lending roles with Lehman Brothers, ABN Amro and AIG.
Apex hires former BlackRock exec as chief BDO for Americas
Apex Group announced the appointment of Nicholas Morse as chief business development officer as part of expansion across the Americas.
Morse brings more than 25 years of experience as a financial services executive, with managing director roles at SS&C Technologies and BlackRock. He holds extensive experience in financial technology as a member of the team that launched BlackRock’s Aladdin business and held several leadership roles during his tenure there. In his new position, Morse will lead the expansion of the Apex Group in the Americas through new partnerships, brand development and product strategy.
Morse said in a statement: “Apex Group has a unique ability to reach globally, service locally and provide cross-jurisdictional services, keeping its clients at the heart of it all.”
Apex Group founder and CEO, Peter Hughes, said in a statement: “Nicholas is a visionary leader and well-respected in the industry. We have a shared vision of maintaining a customer-focused, values-driven culture and we’re proud to welcome him to the team.”
Renaud Oury, chief growth officer at Apex Group, said in a statement: “[Morse’s] passion for innovation, client-centric approach, and commitment to building high-performing teams align perfectly with Apex Group’s core values.”
Amundi’s Fagan joins L&G to lead global asset management client distribution
Legal & General announced a senior appointment to the Distribution leadership team within its Asset Management division. Ashley Fagan joins the London team as global head of Financial Institutions and is focused on further developing the firm’s relationships with these global clients as the firm continues to internationalize.
Ashley joins L&G’s asset management division from Amundi, having spent nearly six years there, most recently as head of Global Strategic Clients, Distribution and Wealth, where she was responsible for relationships with key global strategic clients, across different geographies and asset classes including Index, ETF and Smart Beta products and solutions.
She will also draw on a wealth of experience gained from ten years at BlackRock, where she led distribution efforts for iShares ETF and Index Investing, and her banking experience having started her career in investment banking in Canada and then subsequently in the UK in Structured Credit CDO/CLO distribution at Barclays Investment Bank.
In her new role, Fagan will be focused on driving forward relationships in the US alongside the existing focus in the UK, Europe and Asia. The hire follows a recent refresh of the Distribution team’s structure, with client teams in the US, Asia, continental Europe and the UK aligning geographically. Fagan will be supported in delivering the global financial institutions strategy by Chris Massey, deputy global head of Financial Institutions.
She will report into Sarah Aitken, chief client officer, working closely with L&G asset management’s existing distribution leaders globally.
Aitken said in a statement: “Our global asset management business has a key role to play in helping us fulfil our strategy built on sustainable growth, sharper focus and enhanced returns. As we continue to diversify our client coverage and investment capabilities, Ashley brings global expertise and strong relationships.”
Fagan said in a statement: “Given its reputation and pedigree across different asset classes, I believe that L&G’s capabilities across public and private markets, and the commitment to investing in opportunities that serve the long-term needs of society, offer a real opportunity for expanding relationships globally with this key segment of the market.”