People moves: BIS, Clearstream, ECB, Holtara, HSBC, ISLA, SocGen, Wematch, WFE

Wematch appoiints Parascandolo for North America’s seclending sales announced the appointment of Joseph Parascandolo as director of Securities Lending Sales & Coverage for North America. He will join the growing Wematch team in New York, bringing over two decades of experience in securities lending after a variety of roles with EquiLend, J.P. Morgan, UBS Investment Bank, and Morgan Stanley.

Parascandolo’s expertise spans client relationship management, sales processes, business development, and financial structuring. His appointment follows several recent strategic hires at Wematch, including Grant Davies as head of EMEA Equities Sales, David Culshaw as global head of Fixed Income, and Vinesh Patel as head of APAC Coverage.

Ed Hochstadter, head of SBL Sales & Coverage for North America at Wematch, said in a statement: “Joe’s client-centric approach aligns perfectly with our mission to provide exceptional service and drive the future of securities lending.”

Parascandolo said in a statement: “Wematch’s cutting-edge technology and dedication to transforming the securities lending industry resonate strongly with my own values and aspirations. I look forward to working alongside the talented team at Wematch and delivering unparalleled value to our clients.”

Fran Garritt takes lead ISLA role for Americas entity

ISLA Americas announced the appointment of Fran Garritt as executive director and head of Business of ISLA Americas. As the newly-created affiliate entity of the International Securities Lending Association (ISLA) – an industry trade association representing the common interests of securities financing market participants, ISLA Americas will also address the market and regulatory interests of securities financing market participants in the Americas.

Reporting to the ISLA Americas’ Board, chaired by Mark Whipple, global head of Securities Lending, Invesco, Garritt will be responsible for the overall management of the ISLA Americas’ business. He will, amongst other things, oversee all day-to-day operational activities and functions, including events, infrastructure, facilities management, and membership, while working with relevant counterpart(s) across EMEA and the US, to ensure overall strategic alignment with ISLA’s broader aims and objectives.

Fran brings over two decades of association management experience, having previously held various leadership roles at the Risk Management Association (RMA), including his most recent role as head of Financial Risk Management and Securities Lending, where he oversaw the delivery of the Annual Securities Finance & Collateral Management Conference.

Andrew Dyson, ISLA CEO, said in a statement: “I am delighted to welcome Fran to the group and am very much looking forward to working with him as we expand our member footprint into the Americas”.

Whipple said in a statement: “We are excited to support Fran in transitioning ISLA Americas into a market leading association that, together with ISLA EMEA, can enhance the value proposition to our regional and global members as well as the wider industry.”

SocGen hires senior bankers for Americas ECM platform

Societe Generale announce the addition of several senior level bankers supporting the buildout of its Americas Equity Capital Markets (ECM) platform.

Nicholas Cunningham joins as senior banker/ECM and will be focused on the Industrial sector and Financials Sponsors. Ashish Sanghrajka joins as senior banker/ECM and will be focused on Healthcare. Additionally, Thomas Feuerstein has relocated from Societe Generale in Paris as senior banker/ECM focused on Technology and, in addition to his sector focus, he will also work to enhance connectivity for our European clients into the US Equity Capital Markets. David Getzler remains head of ECM US.

Cunningham, Sanghrajka, Feuerstein and Getzler are based in New York and will report to Jeff Mortara, global co-head of ECM. Mortara joined Societe Generale earlier in May 2024 and is focused on delivery of ECM advice and distribution capabilities to the bank’s clients in both the Americas and globally. He is also leading the growth of Societe Generale’s Technology Investment Banking practice in the Americas.

“The recent hires significantly improve our ECM relationships within key sectors including Technology, Healthcare and the Financial Sponsors client community,” SocGen managers wrote in an emailed notice.

Loscher to become CEO of Clearstream Banking 

Clearstream announced Dirk Loscher as its new CEO of Clearstream Banking AG following the appointment of Stephanie Eckermann to the Executive Board of Deutsche Börse AG and her broadened responsibility. Loscher will continue his responsibility as head of Custody and Investor Solutions for all Clearstream Securities Services entities. He joined Clearstream Banking AG in October 2022 where he was nominated as a member of the Executive Board.

Eckermann will be leading the newly created Post-Trading division of Deutsche Börse Group as a member of the Executive Board. She joined Deutsche Börse Group in 2020 and has served as CEO for Clearstream Banking AG since 1 July 2023.

SFT: Abbassian joins HSBC’s Markets and Securities Services division

Kasra Abbassian has joined HSBC as a client manager for Securities Lending and Liquidity services, reports Securities Finance Times. Prior to this role, Abbassian held a six year tenure at J.P. Morgan, holding several positions, most recently as securities lending associate.

ECB appoints three new Supervisory Board members

  • The Supervisory Board, chaired by Claudia Buch, is responsible for planning and carrying out the ECB’s supervisory tasks.
  • Sharon Donnery, Pedro Machado, and Patrick Montagner to be new ECB representatives on Supervisory Board
  • They will succeed current ECB representatives Edouard Fernandez-Bollo, Kerstin af Jochnick and Elizabeth McCaul

The Governing Council of the European Central Bank (ECB) has appointed Sharon Donnery, Pedro Machado and Patrick Montagner as ECB representatives to the Supervisory Board of ECB Banking Supervision, each for a five-year non-renewable term. They will succeed current ECB representatives Edouard Fernandez-Bollo, Kerstin af Jochnick and Elizabeth McCaul once their respective terms end between August and November this year.

Sharon Donnery is currently deputy governor of the Central Bank of Ireland and serves as its representative on the ECB’s Supervisory Board. Pedro Machado is currently a board member and director of Resolution Planning and Decisions at the Single Resolution Board. Patrick Montagner is currently first deputy secretary general and head of Insurance Supervision and Commercial Practices for Banking and Insurance Sectors at the Autorité de Contrôle Prudentiel et de Résolution (French Prudential Supervision and Resolution Authority), and he is also a member of the Board of Supervisors at the European Insurance and Occupational Pensions Authority.

Nithya Navaratnam appointed as BIS’ deputy head of Banking

The Bank for International Settlements (BIS) has appointed Nithya Navaratnam as deputy head of the Banking Department for a five-year term. Nithya Navaratnam joined the BIS as the head of Credit Risk Management in 2020. Previously she worked at Goldman Sachs, where she progressed through various regional and global credit risk leadership roles across their New York and Singapore offices.

Navaratnam  succeeds Luis Bengoechea, who became head of the Banking Department.

CEO of the World Federation of Exchanges re-elected to 4th term as vice chair of IOSCO’s AMCC

The World Federation of Exchanges (the global industry association for exchanges and clearing houses) announced the re-election of its CEO, Nandini Sukumar, to the position of vice chair of the International Organization of Securities Commission’s (IOSCO) Affiliate Members’ Consultative Committee (AMCC).

The AMCC comprises 68 IOSCO affiliate members, including exchanges, market intermediaries, and other financial institutions and bodies with an interest in securities regulation. The committee’s objectives are to share experiences and enhance co-operation among its members.

Sukumar’s re-appointment marks her fourth consecutive term in this crucial leadership role within the IOSCO framework. Exchanges and CCPs are central and neutral pieces of infrastructure, so observe and work with the whole ecosystem whilst also underpinning it. As CEO of the WFE, over the past six years Sukumar has utilised her vast experience and knowledge to facilitate greater engagement among affiliate members to ensure the group can effectively contribute to IOSCO’s mission of investor protection, market integrity, and financial stability.

Along with the incoming AMCC chair, Sukumar will continue to lead the group as it provides input into the IOSCO policy and standard-setting work. This will build on the common interest that AMCC members have in market-based finance, whose role in financing and investment is proving more important than ever. In this context, the AMCC is an important body for promoting a healthy ecosystem for markets.

Sukumar said in a statement: “I look forward to another busy term, building on what we have achieved together so far, and continuing to collaborate with you as we navigate new challenges the industry faces.”

ESG business Holtara appoints new global chief commercial officer 

Holtara has hired Yovanka Bylander Arroyo as its new global chief commercial officer and head of Americas. Based in New York, Yovanka will drive Holtara’s global growth and client success strategies, including expansion into new client segments and geographies. In her role as head of Americas, Yovanka will specifically focus on growth and client success for that region.

Prior to joining Holtara, Arroyo was head of Sustainability at TimesSquare Capital, where, as a member of the investment team, she launched the firm’s ESG integration program. Yovanka’s work in the sustainability field began in 2011, when she joined ISS (Institutional Shareholder Services). Her most recent role there was global head of ESG Client Success.

Before joining ISS, Yovanka was acting CEO of Hawkstone Capital, a $200 million European long/short fund. Prior to Hawkstone, she was an equity analyst, covering Latin American and European bank stocks at Fox-Pitt, Kelton and Morgan Stanley. She started her career as a credit rating analyst. Holtara is a subsidiary arm of financial service provider, Apex Group, launched earlier this year for ESG solutions. It already supports over 400 general and limited partnership companies globally through a combination of people and platform powered solutions.

Arroyo said in a statement: “I’m thrilled to be joining Holtara and Apex Group at this exciting time in the field of sustainable finance. Holtara’s award-winning platform and industry leading expertise, combined with Apex Group’s global reach and high-quality approach to serving alternative asset managers makes for a powerful combination. Driving growth and positive change with this powerful team is a compelling opportunity.”

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