Miller appointed by Citi for global fund admin role
Citi Securities Services appointed John Miller as global head of Fund Accounting and Administration, reporting to Mike Hughes, head of Fund Services. This is a newly created role and Miller is based in Boston.
In his role, Miller will advance Citi Securities Services’ strategy to be a top-tier funds provider. He will oversee product strategy, client delivery and financial performance, and drive investments into new technologies for the business. He will focus on the move to a global operating model for Fund Services, enabling the business to be run more efficiently across multiple geographies and asset classes on a single platform.
Miller joins Citi from J.P. Morgan where he was in a similar role. Citi’s global Fund Services business covers 18 fund domiciles and delivers asset managers, asset owners, insurers and pension funds with services including full middle office outsourcing, fund accounting & administration, ETFs, transfer agency and depositary services.
Clear Street names Goldman’s Pawar as CRO
Clear Street appointed Atul Pawar as chief risk officer. He joins after two decades at Goldman Sachs where he was the head of US Prime, Clearing, FCM and Counterparty Risk.
“We are very pleased to welcome Atul to Clear Street’s leadership team,” said Chris Pento, CEO and co-founder of Clear Street. “Risk management is the most important part of our value proposition and was the crux of why we founded this business six years ago. The financial industry still operates on infrastructure built in the 1970s, which can lead to costly errors, reduced profit margins and unattractive risk profiles. Atul’s proven experience and veteran status at a premier competitor speaks to our increasing presence and forward growth trajectory in the industry. We’re excited to welcome him to our world-class team as we continue to bring our clients compelling and tech-forward products and services.”
As CRO, Pawar will oversee Clear Street’s risk management firmwide, across Institutional and Active divisions. In the company’s Institutional business, Clear Street provides securities financing and lending, clearing and settlement, execution, professional clearing and custody, capital introduction and investment banking. Clear Street’s Active division provides active traders a suite of products and services designed for speed, efficiency and reliability.
Pawar said in a statement: “Clear Street is challenging the status-quo by building a modern, cutting-edge, centralized technology platform unlike any other available on the street. I look forward to contributing to the Company’s expansion plans and continued success”.
During his tenure at Goldman Sachs, Pawar focused on prime brokerage, execution and clearing and Futures Commission Merchant (FCM) under the Global Banking and Markets division where he oversaw market and liquidity risk in portfolios across various asset classes, such as equity, commodities, fixed income credit, rates , and foreign exchange. Prior to managing the risk team, Pawar was a member of Goldman Sachs’ Strategies group, where he led the effort of building portfolio analytics and stress tests.
SFT: HSBC’s Laurent to head continental Europe agency lending and liquidity services
HSBC has promoted Olivier Laurent to head the bank’s continental Europe agency lending and liquidity services, according to Securities Finance Times. In his expanded role, he will continue to act as head of Securities Services for France, a position he has held since 2018.
Based in Paris, Laurent reports to Adnan Hussain, global head of agency securities lending, and Tony McDonnell, head of continental Europe and offshore, and global head of alternative investments for Securities Services. Laurent joined the bank’s London office in 2015 where he worked in product management on MiFID II, AIFMD, and the Securities Financing Transactions Regulation (SFTR), before being appointed head of Securities Services for France.
ESMA appoints new members of its Securities and Markets Stakeholder Group
The European Securities and Markets Authority (ESMA) announced the appointment of new members for its Securities and Markets Stakeholder Group (SMSG). On 1 July 2024 the new members will start their four-year term, during which they will provide ESMA with advice on its policy work and will be consulted on technical standards and guidelines.
The candidates will make up the SMSG for four years and join from a variety of academic and advisory bodies:
- Barbara Alemanni, professor of financial markets and institutions at University of Genoa; affiliate professor – financial markets and institution and Research fellow CAREFIN, Bocconi University
- Gabriela Ariadna Dumitrescu, associate professor of Finance, ESADE Business School
- Morten Kinander, professor of Law, BI Norwegian Business School; Director Center for Financial Regulation, BI Norwegian Business School
- Giovanni Petrella, professor of Banking, Catholic University, Milan
- Monica Calu, member in Advisory Council at the Central Level, National Authority for Consumer Protection, Bucharest
- Kęstutis Kupšys, vice president, Vartotojų Aljansas – Lithuanian Consumers Alliance
- Aleksandra Maczynska, acting managing director, BETTER FINANCE
- Guillaume Prache executive president, Fédération des Associations Indépendantes de Défense des Epargnants pour la Retraite (FAIDER) – Federation of Independent Associations for Retirement Savers
- Agustin Reyna, director general, Bureau européen des unions de consommateurs – the European consumer organisation (BEUC)
- Christian Martin Stiefmueller, senior adviser, Research & Advocacy, Finance Watch
Verena Ross, ESMA’s chair, said in a statement that with the SMSG new members’ strong expertise, diverse professional backgrounds and broad geographical representation, ensure “ESMA will be receiving different stakeholder views and input from across the European Union. ESMA works to enhance investor protection, build more effective and attractive capital markets in the European Union and safeguard financial stability. This is why I look forward to hearing the SMSG members’ perspectives on market developments and to receiving valuable advice on numerous files under ESMA’s remit.”