Wematch.live boosts EMEA team with Davies as equity sales head
Wematch.live announced the appointment of Grant Davies as head of Equities Sales for the EMEA region. Davies will join the Wematch team in London, bringing with him a wealth of experience and expertise in the securities finance sector. His appointment follows several key hires at Wematch in recent weeks, including David Culshaw as the first global head of Fixed Income and Vinesh Patel as head of APAC Coverage.
Davies has more than two decades of experience in securities finance, with various roles at institutions such as EquiLend, J.P. Morgan, and BlackRock spanning collateral management, the ETF capital markets, securities lending, and Total Return Swaps (TRS) from his time as head of Business Development at Matchbox (Sunrise), where he played a key role in launching and expanding the Equity TRS platform.
David Raccat, chief revenue officer and co-founder of Wematch, said in a statement: “(Grant’s) extensive experience, industry knowledge, and leadership skills will be instrumental in driving our growth and further solidifying our position as a leading fintech platform in the securities financing space.”
Davies said in a statement: “I am excited to join Wematch at a pivotal point in their evolution and embrace the opportunity to contribute to the company’s mission of transforming the securities financing industry through innovation and collaboration. Wematch’s cutting-edge technology and client-centric approach align perfectly with my own values and aspirations.”
AIMA’s Global Investor Board names Fink as new co-chair
The Alternative Investment Management Association’s (AIMA) Global Investor Board (GIB) announced that Anne-Marie Fink, chief investment officer of Private Markets and Funds Alpha at the State of Wisconsin Investment Board (SWIB) will take on the role of co-chair on its Global Investor Board. Fink will serve alongside founding chair Eduard van Gelderen, senior vice-president and CIO at PSP Investments, who also sits on AIMA’s Council.
Formed in 2022, GIB serves as an advisory group that assists alternative asset managers in understanding the latest investor trends that influence their asset allocations. It also focuses on aligning expectations between investors and managers while promoting industry best practices to improve outcomes for all stakeholders. Geographies represented on GIB include leading investors from Abu Dhabi, Australia, Brazil, Canada, England, Hong Kong, Japan, New Zealand, Singapore, Sweden and the US.
Fink said in a statement: “As co-chair of the AIMA Global Investor Board, I’m honored to represent asset owners and investors as we drive sound practices and thought leadership within the alternative asset management community. Working alongside Eduard and the entire GIB, we are committed to sharing global insights that elevate our industry and foster greater connectivity among members across borders.”
Gelderen said in a statement: “AIMA’s Global Investor Board has produced important insights for allocators and alternative managers alike. I’m proud to continue as co-chair and delighted to welcome Anne-Marie to share in the group’s leadership as we continue to discuss key topics impacting markets, portfolio construction and alternative asset management across the globe.”
Jack Inglis, CEO of AIMA, said in a statement: “As asset owners, investors represent the most important pillar in our ecosystem, driving strong sound practice and thought leadership to our alternative asset management community. We are grateful to Eduard, Anne-Marie and the entire GIB for sharing important global insights to elevate our alternative investment industry across borders while increasing connectivity between our members.”
Martin Moloney appointed FSB deputy secretary general
The Financial Stability Board (FSB) announced the appointment of Martin Moloney as its new deputy secretary general. He will succeed Rupert Thorne, who will be retiring after almost 20 years.
Moloney is currently secretary general of the International Organization of Securities Commissions (IOSCO), a position to which he was appointed in September 2021. Prior to joining IOSCO, Martin was director general of the Jersey Financial Services Commission (JFSC) and before that he worked as a special adviser on Risk and Regulation to the Central Bank of Ireland (CBI).
ECB appoints Alain Busac as director general of Information Systems
The Executive Board of the European Central Bank (ECB) announced the appointment of Alain Busac as director general of Information Systems. In his new role, Busac will steer the ECB’s digital transformation, deliver major IT modernization projects and ensure that the ECB’s stringent cybersecurity protections are maintained.
Busac is currently director of Information Systems for Financial Markets, Monetary Policy and Payment Infrastructures at the Banque de France. He is responsible for the Directorate’s IT system with a focus on digitalization and the bank’s innovation initiative. Busac started at the Banque de France as head of the section responsible for innovative business projects in 1991. He subsequently held managerial roles in IT architecture, operations and procurement, and was chief technology officer from 2012 to 2018.
The ECB’s Directorate General Information Systems develops, delivers and supports the information and communication systems of the ECB, the Eurosystem/European System of Central Banks (ESCB) and the Single Supervisory Mechanism (SSM). It also provides the governance structure for information systems at the ECB, including IT architecture and security policies, and for the common systems and services of the Eurosystem/ESCB/ SSM.
Kaplan rejoins Goldman Sachs as VC and member of the Management Committee
Goldman Sachs announced that Rob Kaplan will rejoin the firm as vice chair of Goldman Sachs and a member of the Management Committee. He will be a member of the Executive Office and based in Dallas.
In this role, Kaplan will engage clients around the world, working closely with teams across Global Banking & Markets and Asset & Wealth Management to offer strategic advice. He will also draw on his experience in the public and private sectors to offer perspectives to clients and other stakeholders on the US and global macroeconomic landscape.
David Solomon, chair and CEO of Goldman Sachs, said in a statement: “Rob brings a wealth of knowledge, deep relationships and significant global leadership expertise to his role as vice chairman. During his many years at Goldman Sachs, he held a number of senior leadership positions, developing our leading businesses, building relationships with many of the firm’s most important clients, and investing in our distinctive culture of teamwork and excellence.”
Kaplan said in a statement: “I am excited by the opportunity to once again take a key leadership role and contribute to the firm’s commitment to teamwork, leadership development, and the relentless pursuit of excellence in everything we do. The people of Goldman Sachs have had an enormous impact on me as a professional and I look forward to working with the extraordinary array of talented people across the firm to serve our clients and help enhance and sustain the firm’s unique culture.”
Most recently, Kaplan served as president and CEO of the Federal Reserve Bank of Dallas from 2015 to 2021 after two academic roles. Before that he was at Goldman Sachs for more than two decades, during which time he had oversight responsibility for both the Investment Banking and Investment Management divisions, held firmwide responsibilities in the Executive Office, and served as a member of the Management Committee.
Mortara named global co-head of Equity Capital Markets at SocGen
Societe Generale has appointed Jeffrey Mortara as its global co-head of Equity Capital Markets. He will be based in New York and join Luis Vas Pinto in leading the bank’s ECM efforts, reporting to Carl Bassili and Bruno Magnouat, co-heads of Societe Generale’s Investment Banking Division within Global Banking and Advisor, and regionally to Guido van Hauwermeiren, head of Global Banking and Advisory for the Americas.
Mortara was previously global co-head of Equity Capital Markets for UBS where he led a global team of equity and equity-linked professionals in the US, Europe, and Asia. Prior to UBS, Mortara was at Deutsche Bank where he built out the bank’s ECM practice in Technology, Media and Telecom (TMT) and Financial Institutions, and previously served as the head of TMT banking, both in Silicon Valley and, prior to that, in Europe while based in London.
“Together with their teams, Jeffrey and Luis will offer our clients a deeper and broader scope of Equity Capital Markets advisory, leaning on our strong European footprint” said Anne-Christine Champion, co-head of Global Banking and Investor Solutions, in an emailed announcement. “Jeffrey’s appointment comes at an especially opportune time for Societe Generale following the launch of Bernstein and its top-ranked equity research and distribution capabilities which together with Societe Generale’s own strengths creates a powerful and fully integrated equities platform for our clients.”
US SEC hires Nathaniel Benjamin as director of the Office of Minority and Women Inclusion
The US Securities and Exchange Commission (SEC) announced that Nathaniel Benjamin has been appointed the director of the Office of Minority and Women Inclusion (OMWI). He joins OMWI from AmeriCorps, where he is the chief diversity and inclusion officer. Allison Wise, OMWI’s deputy director, has served as acting director of the Office since October 2023.
Benjamin joined AmeriCorps from the Department of Education, where he was deputy chief human capital officer and worked as a change strategist and executive leader for the agency’s operational functions. He was also the managing executive for the department’s diversity, equity, and inclusion program and led the agency’s Diversity and Inclusion Council. Previously, he was the human capital director and deputy chief human capital officer at the Office of Management and Budget, where he directed the human capital strategy, workforce development and employee engagement initiatives, and the diversity and inclusion plan. Over a 24-year career, Benjamin has served as a noncommissioned officer in the U.S. Air Force and a civil servant for the Department of Defense.
“Nate brings deep experience to the Office, having led various workforce development and employee engagement programs throughout two decades in public service,” said SEC chair Gary Gensler, in a statement. “I thank Allison for her leadership of the Office and her services to the SEC.”
Benjamin said in a statement: “I will use my experience to address challenges and barriers and strategically lead the Office. I look forward to working with the Commission to further equity and opportunities for all SEC stakeholders.”
SwissInfo: Final Credit Suisse CEO, Ulrich Korner, to leave UBS
The final chief executive of Credit Suisse, Ulrich Körner, is set to leave UBS in the coming weeks, as the Swiss bank prepares to complete a crucial step in the integration of its former rival, according to a Financial Times article published by SwissInfo.
UBS executives are working to complete the merger of the bank’s legal entities with those of Credit Suisse by the end of May, according to people with knowledge of the plans, just over a year after the Swiss state engineered the shotgun marriage between its two biggest lenders.
Körner, who was appointed Credit Suisse chief executive during its dying days in 2022 and stayed on in the role after UBS rescued the bank, had hoped to leave the business earlier but had been persuaded to stay until after the legal merger, according to people briefed on the discussions. The combination of the two banks’ holding companies will mean the Credit Suisse management board will become obsolete, including the role of chief executive.
Under the integration plan outlined by UBS chief executive Sergio Ermotti in February, the Swiss entities are due to be merged in the second half of the year, while Credit Suisse clients will continue to be migrated to UBS into next year. The final part of the integration, merging IT systems, will run into 2026.
Once the legal merger is complete, UBS plans to ramp up its job cuts programme, as the bank aims to have a total workforce of 85,000 by the end of the integration process, according to people with knowledge of the plans. Based on the combined group’s headcount of 120,000 last year, the total number of job cuts would be 35,000.
When asked about job losses last year, Ermotti said as cited by FT: “We are committed to minimising the impact on employees by treating them fairly, providing them with financial support, outplacement services and retraining opportunities.”
Houlihan Lokey hires Scott Kirby as MD for European FS & Tech team
Global investment bank Houlihan Lokey announced that Scott Kirkby has joined the firm as a managing director in its European Financial Services and Technology team, which operates as part of the global FinTech Group. Based in London, Kirkby will focus primarily on the banking and lending sector, further strengthening the firm’s EMEA capabilities in this area.
Kirkby joins from Bupa, where he was the Group director of Corporate Development with a range of responsibilities, including M&A and portfolio management. He previously spent seven years as head of Corporate Development and M&A at NatWest Group, formerly the RBS Group, where he played a leading role in the significant divestiture program undertaken by the bank as well as various acquisitions, strategic partnerships, and internal restructures. Prior to this, Kirkby spent 12 years in Credit Suisse’s Financial Institutions Group (FIG), becoming head of EMEA FIG M&A, based in London, before moving to New York in 2013 as head of FIG M&A for the Americas. He began his investment banking career in 2001 in Australia.
Christian Kent, managing director and co-head of Houlihan Lokey’s European Financial Services and Technology team, said in a statement: “The rapid digital transformation in the sector has opened new opportunities for clients to embrace innovation, scale operations through M&A, and expand into new verticals. Scott’s wealth of experience, strategic insight, and expansive network will help our clients as they consider a future sale, acquisition, capital raise, or other strategic options for their business.”
Alec Ellison, managing director and global head of Houlihan Lokey’s FinTech Group, said in a statement: “The financial services and fintech sectors are highly integrated, and Scott’s unique breadth of experience across financial services markets, as well as the technologies and services to the banking and lending sector, are highly differentiated in the market. Scott will be an integral part of the team as we further build upon our market-leading position in the banking and lending sector.”
“Houlihan Lokey is renowned for its deep end-market expertise both in the traditional banking and lending sector and the wider fintech landscape, with senior financial professionals across every vertical,” Kirby said in a statement. “Not only that, but there is an understanding at the firm that an industry driven by innovation and change requires a unique blend of sector expertise, transaction experience, and a genuinely client-centric ethos. These values align with my own, and I look forward to working with the team to deliver exceptional results for our client base.”