Booij joins Eurex as CEO of Frankfurt entity
Eurex announced Robbert Booij as the new CEO of Eurex Frankfurt succeeding Michael Peters, who is retiring after 30 years. Booiji joins Eurex from ABN AMRO Clearing, where he has been CEO Europe since March 2018. Booij will join the Executive Board of Eurex Frankfurt AG as of 1 May 2024 and will succeed Michael Peters as CEO as of 1 July 2024.
“Together with Erik Müller, CEO of Eurex Clearing, we will have two very strong leaders to ensure Eurex’ success in the future,” said Thomas Book, member of the Executive Board of Deutsche Börse, responsible for Trading & Clearing, in a statement.
“I know Eurex well from my current role at ABN AMRO Clearing Bank N.V. and had the honor to be the Chairman of the Eurex Exchange Council. Eurex is a global derivatives powerhouse, both in trading and clearing. I feel very privileged to be appointed as CEO of Eurex Frankfurt AG. I am excited to work with the team and Eurex’s clients in my new role, and to build upon the great achievements delivered under the leadership of Michael,” said Robbert Booij, designated CEO of Eurex Frankfurt AG, in a statement.
State Street promotes Michael Eldridge to head of UK
State Street Corporation announced the appointment of Michael Eldridge as UK Country head and State Street Bank & Trust London Branch Manager. Reporting to executive vice president Cuan Coulter, Eldridge will oversee all aspects of State Street’s business in the UK and the execution of the firm’s strategy across product deployment, client relationships, risk and compliance, employee development and community engagement, while continuing his responsibilities as UK head of Global Markets.
Eldridge has more than 30 years’ experience in the financial services industry, with a strong background in custody operations, global markets and investment banking. Since joining State Street in 2016, Eldridge has overseen and led many significant projects in various senior roles, including the establishment of new operating teams in the UK, Germany and India.
Coulter said in a statement: “With his background in supporting and establishing complex teams and organizations, Michael is well equipped to manage this important market. I look forward to working with him closely and continuing to grow UK business and delivering value to our clients and stakeholders.”
Eldridge said in a statement: “Our culture of collaboration and dedication, coupled with our focus on client-centric innovative solutions, will ensure we continue supporting global clients of different scales in unlocking value and improving operational efficiency.”
J.P. Morgan announces expanded roles for top executives
J.P. Morgan announced new and increased responsibilities for a number of key executives. Jennifer Piepszak, co-chief executive officer of Consumer and Community Banking (CCB), and Troy Rohrbaugh, co-head of Markets and Securities Services, will become Co-CEOs of the expanded Commercial & Investment Bank, which will bring together the bank’s major wholesale businesses of Global Investment Banking, Commercial Banking, Corporate Banking as well as Markets, Securities Services and Global Payments.
The company’s investment, commercial and corporate bankers cover clients of all sizes around the world ranging from middle market companies to large, multi-national firms. Combining these efforts will enhance and deepen the way the company can seamlessly deliver the world’s most complete set of wholesale banking products and solutions.
Doug Petno, CEO of the Commercial Bank, will lead an expanded Commercial Banking business, which will also encompass the Global Corporate Banking group. These franchises already share an unwavering commitment to their clients, so this alignment provides great synergies across the firm’s spectrum of product and service capabilities.
Viswas Raghavan, co-head of Global Investment Banking, will become sole head of the Global Investment Banking franchise, while his partner, Jim Casey, has informed the company of his desire to take on an as yet unannounced new role in the firm. Marc Badrichani, co-head of Markets and Securities Services, will be leaving. Tim Fitzgerald will continue to lead Securities Services, which provides essential post-trade services to institutional asset-manager clients.
Takis Georgakopoulos, head of Global Payments, will continue to lead that business through its transformation and growth initiatives – a major strategic imperative for the firm and a critical service for its largest and most complex wholesale clients.
Marianne Lake, co-CEO of CCB, will become sole CEO of that business, which is the industry’s premier consumer franchise, serving over 80 million consumers and six million small businesses across their financial needs. CCB is comprised of many key businesses, including Consumer Banking, Credit Card, Small Business, Home Lending, Auto Finance, and the U.S. Wealth Management groups.
Mary Erdoes remains CEO of Asset & Wealth Management, which continues to deliver top-tier investment performance and growth with client assets reaching an all-time high of more than $5 trillion — and sees compelling opportunities to grow the company’s first-class Global Private Banking business. The company’s firm-wide Operating Committee remains unchanged at this time.
Jamie Dimon, J.P. Morgan chair and CEO, said in a statement: “Daniel [Pinto, president and chief operating officer,] and his team have built the finest Corporate and Investment Bank in the world, and now we can increasingly take advantage of his extraordinary capabilities across the firm as we continue to jointly manage the company, with his focus on the execution of our lines-of-business priorities.
Hazeltree appoints Schultz as head of hedge fund strategy
Hazeltree has appointed Joseph Schultz as head of hedge fund strategy, Finadium has confirmed. The announcement was reported by Securities Finance Times. Schultz brings over 25 years of experience as a senior leader in Business Development, Operations, Finance, Compliance, and Regulatory matters at large alternative investment management firms.
He has formerly held COO, CFO, and CCO roles at fintech and hedge fund firms across a diverse array of strategies. He was most recently the managing partner and COO/CFO at Gilded and previously held similar senior roles at SummerHaven Investment Management, Basso Capital, and AIG Trading & Asset Management Groups.
Schultz’ extensive experience includes the design and management of operations, plus building trading systems to support fixed income broker-dealers, foreign currency options, and commodity groups. He has deep knowledge of blockchain, digital assets, complex structured and OTC derivatives.
Bloomberg: Wall Street unleashes quants to grab private market billions
- Ares, BlackRock among firms seeking an edge with data science
- Systematic techniques used to identify targets, unpack returns
Wall Street is turning to its biggest brains as the battle for supremacy in the world of private assets heats up, according to Bloomberg. Quantitative analysts — more usually found in data-heavy parts of the financial ecosystem such as stocks or derivatives — are being deployed by firms like Ares Management and BlackRock as they race for an edge in private equity and credit.
WSJ: Top Goldman executive Esposito to depart
Jim Esposito, co-head of Goldman Sachs’s sprawling global banking and markets division and one of the senior-most executives at the firm, plans to depart after nearly 30 years, according to the Wall Street Journal. His exit removes a potential contender for CEO.
GSR hires Koukorinis as head of Trading
GSR, the global cryptocurrency trading firm and liquidity provider, announced the appointment of Andreas Koukorinis as its new head of Trading. He joins the firm from J.P. Morgan, where he most recently served as their global head of Credit and FICC ETF eTrading.
Koukorinis will lead GSR’s trading platform and strategy to serve the firm’s clients consisting of token issuers, institutional investors, family offices and leading trading venues.
In his role at J.P. Morgan, he had responsibility for Global Algorithmic Credit Trading, encompassing systematic market making, algorithmic trading in ETFs across Fixed Income, and portfolio trading across corporates and Emerging Markets. He previously founded and managed Stratagem Technologies, a machine learning and analytics company for sports betting, and has held roles at Fortress Investment Group and Deutsche Bank.
He will join the GSR leadership team, working closely with GSR CEO Jakob Palmstierna, co-founder and president Rich Rosenblum, and chief technology officer John MacDonald, to drive the firm’s vision of consolidating its global presence in digital asset markets. In addition to the focus on streamlining GSR’s trading and execution processes, Koukorinis will be exploring ways to more effectively leverage the execution capabilities of the firm across the spectrum of digital assets.
Koukorinis said in a statement: “The next few years are going to be foundational in defining the market infrastructure for digital assets and I see GSR uniquely placed to take advantage of the trading opportunities this presents given the firm’s DNA as a rigorous systematic algorithmic trading firm combined with its long standing relationships with key stakeholders across markets.”
CFTC commissioner Pham announces additional executive staff appointments
CFTC commissioner Caroline Pham announced new executive staff appointments in Washington. Taylor Foy joins commissioner Pham’s team as a senior advisor and Nicholas Elliot has joined as a confidential assistant and policy advisor. Foy and Elliott will join the executive policy team led by chief of staff Meghan Tente and counselor and senior policy advisory Harry Jung.
Pham said in a statement: “Both Taylor and Nicholas spent extensive time in the policy arena while serving in the US Congress, and bring a wealth of knowledge and experience to our mission at the CFTC.”
Foy joins Commissioner Pham’s office after nearly 14 years on Capitol Hill, where he served as the communications director for the influential Senate Judiciary, Senate Finance, and Senate Budget Committees. In these roles, he developed public messaging and communications strategies on a wide array of issues, including tax and trade policy, government spending and accountability, and federal law enforcement matters. He worked directly on policies to improve transparency in commodity markets and buttress the CFTC’s successful whistleblower program. He also led a team of communicators for several senior US Senators and a member of Congress – all of whom were members of committees with direct oversight of the CFTC.
Elliot has spent nearly four years working for US Senator Bill Hagerty, including the financial services and banking portfolio, where he advanced the senator’s work on the Committee on Banking, Housing, and Urban Affairs, as well as assisted with legislative priorities. This included, among others, the Depositor Protection Act of 2023, the Digital Trading Clarity Act of 2022, and the Communist China’s Digital Currency – National Security Risks Act, which became law in 2022.