People moves round-up: Amundi, Appital, BlackRock, Broadridge, Houlihan, HSBC, ISDA, J.P. Morgan, MarketAxess, NeoXam, Pirum, Portfolio BI,QuantHouse, South Street, StoneX, Wematch

Mark Jennis joins Pirum to accelerate collateral services growth in North America

Pirum announced that industry veteran Mark Jennis has joined Pirum’s US team to drive its expansion in the collateral management space in response to increasing client demand for enterprise-wide optimization. He will lead Business Development for CollateralConnect in North America.

Jennis brings over three decades of experience in core aspects of collateral management, including strategy, business and product development and execution; margin, settlement and custody operations; collateral and cash optimization; and regulatory and risk management.

His previous roles include leading Strategy and Strategic Partnerships at Transcend, developing blockchain use cases and solutions for PeerNova, executive chair at DTCC-Euroclear GlobalCollateral, spearheading the Margin Transit Unit, as well as global roles at Morgan Stanley and Banker Trust, supporting the various collateral businesses, including Prime Brokerage, Derivatives, Commodities, FX, Repo, and Wealth Management.

Having already rolled out CollateralConnect at many of the largest and most complex financial institutions in the world, Pirum has also collaborated with BNY Mellon on a joint collateral optimization service, ECPOConnect.

Jennis said in statement: “I am thrilled to join Frank Seibold’s team in New York and I look forward to working closely also with Todd Crowther (Head of Corporate Development & Collateral Services), as part of the the global Business Development team. During my conversations with Pirum’s leadership, it became crystal clear to me that this role represented a unique opportunity both to expand the footprint of a cutting-edge collateral product and to play a key role in upgrading the entire collateral industry’s conception of what best-in-class looks like.”

Frank Seibold, head of Commercial Development for the Americas at Pirum, said in a statement: “Tapping into the potential of CollateralConnect promises to transform the collateral management workflow, a crucial component of the industry that Pirum caters to. With that in mind I look forward to seeing Mark’s impact in terms of growing the CollateralConnect community in North America and beyond.” appoints Culshaw to head Fixed Income and Patel to lead APAC coverage announced the appointment of David Culshaw as global head of Fixed Income in a newly created role indicating expansion into the asset class. In addition, the fintech hired Vinesh Patel as its new head of APAC Coverage based in Hong Kong amid growth in the Asia-Pacific region.

Culshaw joins from Brevan Howard spinout, SigTech, where he served as global of Business Development. His tenure at BrokerTec, part of CME Group, saw him lead the commercial development of their Dealer-to-Client RFQ Repo Platform across EMEA and North America. With a rich background working alongside both buy-side and sell-side across various financial products, including interest rate derivatives, securities financing, and cash bonds, Culshaw is uniquely equipped to drive Wematch’s growth in the fixed income space.

David Raccat, chief revenue officer and co-founder at Wematch, said in a statement: “His extensive experience and expertise in fixed-income financial markets will be invaluable as we continue to expand our platform and deliver innovative solutions to our clients. David’s appointment underscores our commitment to providing best-in-class services and driving the transformation of the securities finance industry.”

In his new role, Culshaw will be responsible for driving the growth strategy for Wematch’s fixed-income business, expanding the company’s client base, and further developing its product offerings to meet the evolving needs of the market.

He said in a statement: “In the fixed income space, particularly with financing products like total return swaps (TRS) and securities lending, there’s significant room for innovation through automation, standardization, and technology. I look forward to collaborating with the market to develop solutions that address these challenges and deliver widespread benefits.”

In APAC meanwhile, Patel joins Wematch with a wproven track record in financial markets, particularly in the balance sheet management and securities financing domains. Prior to joining Wematch, he spent six years at ICAP in Hong Kong in its Structured Financial Products Group serving a diverse, pan-APAC, senior client base in the financing community. Before his tenure at ICAP, Patel was a trader in the Treasury division of MUFG in London.

Raccat said in a statement: “His extensive expertise in the securities financing industry will be instrumental in driving our strategic initiatives in the Asia-Pacific region. Vinesh’s client-centric approach and ability to foster strong relationships align perfectly with Wematch’s values and commitment to delivering exceptional service.”

In his new role, Patel will be responsible for expanding Wematch’s presence in the APAC region, developing strategic partnerships, and driving the adoption of the company’s cutting-edge securities finance platform. He will work closely with clients to understand their unique needs and provide tailored solutions that enhance efficiency, transparency, and liquidity in the securities finance market.

Patel said in a statement: “Wematch’s innovative platform and commitment to transforming the securities finance industry resonates strongly with me. I look forward to delivering value to our clients and driving the adoption of our cutting-edge solutions in the APAC market.”

Sunil Daswani rejoins MarketAxess 

Sunil Daswani announced on Linked In that he has taken on a senior sales relationship manager role at MarketAxess. Previously he was global head of Securities Lending and Client Management at Standard Chartered Bank, and was before at MarketAxess as head of Securities Finance Solutions & Business Development.

He’s also had roles at Northern Trust and is a former chair and CEO of the Pan Asia Securities Lending Association (PASLA).

“I’m so happy to share that I’m going back to be with the amazing team at MarketAxess!” wrote Daswani.

South Street’s Tabacchi joins Digital Dollar Project

South Street Securities announced that president and CEO James Tabacchi has joined the Advisory Board for The Digital Dollar Project, a neutral, non-profit forum focused on exploring digital money innovations and preserving the role of the US dollar in a world of decentralized and centralized sovereign and non-sovereign digital currency networks.

Tabacchi co-founded South Street and its predecessor firms in 2000. South Street Securities is a New York based broker dealer specializing in securities finance and repurchase agreements for high quality securities. He’s also held numerous roles at Citi, which he joined in 1980.

Lee Vincent takes on new role at StoneX Group

Former senior consultant at Finadium Lee Vincent will be taking on a new position as commercial treasurer at StoneX Group. Along with consulting in portfolio finance, treasury and prime broker relations, he’s been at Scotiabank as managing director based in London leading prime brokerage and derivatives trading for Europe.

Josh Galper, managing principal at Finadium, said: “This is a great opportunity for Lee. We wish him the best in his next move.”

James Lam joins BlackRock Board

James Lam announced on Linked In that he will be starting a new position as Board Director at BlackRock iShares. Lam has been president of the eponymous firm he founded in 2002 providing consulting services in enterprise risk management. He also holds a Board Director position at FAIR Institute. FAIR (Factor Analysis of Information Risk) has emerged as the standard Value at Risk (VaR) framework for cybersecurity and operational risk. The institute is a non-for-profit professional organization dedicated to advancing the discipline of measuring and managing information risk.

Reuters: J.P. Morgan picks new bosses in banking, capital markets after reshuffle

J.P. Morgan reorganized the leadership in its global banking division, installing new leaders in capital markets and investment banking, according to Reuters. The new structure merges the commercial, corporate and investment banking groups under executives Filippo Gori and Doug Petno, who were picked to lead the broader unit in February.

“Our new GB franchise strengthens connectivity across these teams,” they wrote in a memo seen by Reuters. Among the appointments, Kevin Foley was appointed as the global head of capital markets, overseeing debt and equity capital markets (ECM). Achintya Mangla, previously global head of ECM, will leave the bank to pursue other opportunities. Dorothee Blessing and Jay Horine will become global co-heads of investment banking coverage.

Broadridge appoints Jarkowski as CLO and Troise to lead trading and connectivity business

Broadridge announced that Hope Jarkowski has been appointed chief legal officer, a role in which she will oversee legal, compliance, regulatory, and government affairs for the firm. She will also serve as the primary legal advisor to senior management and the Board of Directors and will help lead Broadridge’s internal policy efforts. Additionally, she will serve on the Broadridge Foundation Board, Risk Committee, and Environmental, Social, and Governance (ESG) Committee.

“Hope is an established leader with strong expertise in securities regulation, corporate governance, and regulatory affairs, making her the perfect person to lead our legal and regulatory function as we execute on our go-forward strategy,” said Tim Gokey, CEO of Broadridge, in a statement. “As we take advantage of key trends shaping our industry and financial markets more broadly, Hope’s counsel, experience, and leadership will bring meaningful impact to Broadridge and our industry.”

Jarkowski joins Broadridge from the New York Stock Exchange (NYSE), where she most recently served as general counsel, providing legal counsel and regulatory strategy across the NYSE’s business segments. Prior to this, she served as head of Equities for the NYSE with responsibility for strategy, product development, and relationship management across NYSE’s businesses. Previously she served as co-head of Regulatory Affairs for NYSE’s parent, Intercontinental Exchange.

Earlier, she held positions with the US Securities and Exchange Commission as senior counsel to Commissioner Troy Paredes and as senior securities counsel to the US Senate Banking Committee. Prior to her government service, she practiced securities law at both a Fortune 100 law firm and FINRA.

In addition, Frank Troise will join Broadridge as president of the Trading & Connectivity Solutions business and vice chair of Broadridge Capital Markets. Troise succeeds Ray Tierney, who will serve in an advisory capacity, following a successful three-year tenure.

Troise will spearhead the Trading & Connectivity business through the next chapter of its mission to simplify and optimize trading as a leader in multi-asset, multi-workflow trading, and connectivity solutions for firms across the global markets. His appointment comes on the heels of recent Broadridge milestones, including the launch of its Futures and Options platform.

“We are thrilled to welcome Frank, whose appointment symbolizes the latest step in our journey as a Capital Markets business and underscores our commitment to delivering leading-edge solutions that help to optimize trading for global banks, broker dealers, and independent trading firms,” said Vijay Mayadas, president of Capital Markets at Broadridge, in a statement. “We thank Ray for his years of leadership and help successfully integrating the Itiviti acquisition and continued focus on delivering simplification and driving innovation across the trade lifecycle, with global, multi-asset class, modular solutions that equip our clients with the agility to grow.”

Troise brings over 35 years of trading and technology experience to Broadridge. Most recently he served as co-CEO and Board Member at Pico Quantitative Trading, where he played a pivotal role in setting the vision and strategic themes to accelerate growth and achieve scale. He has held key positions including chief executive, president, and Board Member at Investment Technology Group (ITG), served as a global leader of J.P. Morgan’s Execution Services, and has held senior sales and trading roles at Barclays and Lehman Brothers.

Four directors join ISDA Board

The International Swaps and Derivatives Association (ISDA) announced that four directors have joined its Board at its AGM. The new directors are:

  • Erik Tim Mueller: chief executive officer Eurex Clearing and a member of its Executive Board as well as a member of the Management Board of Eurex Deutschland. Mueller was appointed CEO in 2016 and joined the Executive Board of Eurex Clearing in 2013. Prior to his current role, Mueller was a managing director at Deutsche Börse, responsible for Corporate Strategy and Mergers & Acquisitions (M&A). He has also served as head of Treasury and Investor Relations at Deutsche Börse, where he was in charge of treasury activities at Clearstream and Eurex Clearing. Mueller joined Deutsche Börse in 1997. He previously served on the ISDA Board between April 2019 and May 2023.
  • Jared Noering: managing director and head of Fixed Income Trading at NatWest Markets and a member of the trading and sales management team. Over his 27-year career, he has led trading teams covering the full suite of fixed-income products and has worked in Asia, Europe and the US. Prior to his current role, Noering served as co-head of EMEA Rates Trading and head of EMEA Linear Rates and International Dollars at Bank of America Merrill Lynch. Before that, he spent five years at Deutsche Bank Securities, where he was head of International Dollar Rates and SSA trading in Tokyo and London.
  • Brad Tully: managing director and global head of Corporate Derivatives and Private Side Sales for J.P. Morgan. He manages a team responsible for origination and executing commodity, equity, foreign exchange and interest rate transactions with Commercial & Investment Bank (CIB) corporate clients and transactions originating on the private side. Tully is a member of the CIB’s sales and global investment banking management committees. Prior to his current position, he was head of North American Corporate Derivative Marketing and previously held roles on J.P. Morgan’s structured trade finance team.
  • Jan Mark van Mill: managing director of Multi Asset at APG Asset Management and is also a member of APG’s investment committee and credit committee. He was appointed to his current role in April 2023, having previously served as head of Treasury and Trading at APG Asset Management. He joined the organization in 2000 as a trainee and has held various roles within the portfolio management team.

“Derivatives markets are constantly evolving, but ISDA’s mission remains unchanged: to foster safe and efficient markets. Erik, Jared, Brad and Jan Mark each bring a different perspective of the business, as well as a wealth of experience, so I’m sure they will make an important contribution to the ISDA Board,” said Eric Litvack, ISDA chair, in a statement.

In addition, 13 other board members have been re-elected and reappointed, who hail from across the financial industry.

Houlihan Lokey further expands equity private placement offering with senior hire

Houlihan Lokey announced that Ashish Patel has joined the firm as a managing director in its Capital Markets Group to further expand equity private placement capability and presence in Europe. Based in the firm’s London office, Patel will focus on providing equity solutions, including growth capital and structured equity, for leading European companies across a range of sectors.

Patel joins from Deutsche Numis, where he was managing director and head of Growth Capital Solutions, leading the private capital advisory business, focusing on serving high-growth global clients.

“Hiring an advisor of Dr. Patel’s caliber is yet another milestone in the ongoing development of our global private equity placements team, as we continue to provide bespoke capital solutions to our increasing portfolio of global clients as they navigate complex financial landscapes,” said Anthony Martino, global co-head of Houlihan Lokey’s Capital Markets Group. “The appointment exemplifies our commitment to attracting and developing a team of senior, experienced advisors with an unparalleled depth of expertise to deliver exceptional results on a global scale.”

Amundi’s Charles Sayac joins NeoXam as EMEA West director

NeoXam announced the appointment of former global head of sales wealth at Amundi Technology, Charles Sayac, as the new managing director of the EMEA West region. He will also join the executive committee.

Sayac will be spearheading operations from NeoXam’s Paris headquarters. He brings over 15 years of experience operating in the financial software industry, having held senior roles at WeSave, a fintech acquired by Amundi, in parallel to his role at Amundi Technology, as well as tenure at Vermeg, the banking and insurance software company.

Reporting to CEO Florent Fabre’s management, Sayac will be responsible for leading NeoXam’s commitment to delivering its advanced suite of solutions to the EMEA market. This includes NeoXam GP4 for the back-office, NeoXam Portfolio Management for the front-to-middle office, as well as NeoXam DataHub and Impress solutions designed to enhance and streamline data and reporting processes for financial institutions.

Florent Fabre, CEO of NeoXam, said in a statement: “With his extensive experience across the entire value chain of our industry, his ability to rapidly navigate fast-changing market dynamics and capitalize on new opportunities will be an invaluable asset to us. We’re confident Charles’ strategic vision will be instrumental in accelerating our global growth and consolidating our already impressive standing in the EMEA region.”

QuantHouse appoints Rob Kirby to lead EMEA sales and business development

Iress announced that Rob Kirby has rejoined the company as QuantHouse’s head of Sales and Business Development for the EMEA region. He will be leveraging his considerable experience and knowledge of the API data and trading systems markets, supporting growth among the company’s client base and expanding the network of technology partners across the EMEA region.

Kirby brings significant industry experience including senior roles at Thomson Reuters and Refinitiv. His most recent position was director of Trading & Enterprise Global Strategic Partnerships at the London Stock Exchange Group, where he focused on strategic enterprise relationships. He also previously held senior business development roles at QuantHouse between 2009 and 2011.

Iress’s CEO for Global Trading and Market Data, Jason Hoang, said in a statement: “His knowledge, coupled with his deep understanding of the fundamentals of our business, make him the perfect addition to lead our sales and business development teams in EMEA. Our commitment to client service has not changed since Rob worked with us last time, so his reintegration to the business was swift and we’re already seeing the benefits of him being back in the fold.”

Appital hires former HSBC high touch sales trader John Coules

Appital announced the appointment of John Coules to the its business development team. Appital is a peer-to-peer price discovery and liquidity sourcing technology for asset managers, and Coules joins at a time of significant growth as the fintech reaches $4 billion of buyside liquidity.

Coules has over 30 years of experience in client-facing sales trading, equities and building relationships with a wide range of institutional investors, predominantly in the UK and Europe. He brings a deep understanding of how equity markets operate, having served as pan-European equities sales trader at HSBC for the last 17 years and at Lehman Brothers for 13 years before that. At Appital, Coules will be supporting the team with building and deepening buyside relationships in the UK, Europe and beyond.

Brian Guckian, chief business development officer at Appital, said in a statement: “More than 40 asset managers with more than $15 trillion AUM are now signed up, with 60+ more in the onboarding stage, managing an additional $30trn AUM. John’s experience will be invaluable as we continue our global expansion.”

Coules said in a statement: “Today, more than ever, access to hard-to-find liquidity in a market for size, without the risk of information leakage, is a significant challenge. Appital’s peer-to-peer price discovery and liquidity-sourcing technology is truly unique and redefines how buyside firms engage to unlock latent liquidity. I look forward to working with the Appital team to support their international growth ambitions.”

Portfolio BI appoints William Ercolano as CTO

Portfolio BI announced the appointment of William Ercolano to the role of chief technology officer. Ercolano was previously VP of Client Technology at Eze Castle Integration. His addition positions the firm, which has grown strongly in recent years, for the next stage of technology development.

This follows a strategic review of the business by the Supervisory Board which also appointed Jonathan White as CEO in March 2024. Ercolano brings a wealth of knowledge in supporting financial clients and developing fintech products in the alternative investment space. He brings more than 18 years of industry and client service experience to Portfolio BI.

“Bill is going to be an integral part of the team as we continue to expand our current client footprint and help scale our solutions, solving the increasingly complex data workflow, analytics, governance and security challenges in the asset management space.” said Jonathan White, CEO of Portfolio BI, in a statement “This is just one new and exciting component to a larger strategy that we will continue to execute in 2024.”

Ercolano said in a statement: “I am ready for my new challenge in leading Portfolio BI’s technology team to become the premier data analytics and MSP provider in the financial world. I want to establish Portfolio BI as a thought leader in the industry, specifically noting our premier MSP services, along with our robust and industry leading Enterprise Data Management, OMS and PMS platforms, giving clients best in class products and services.”

Portfolio BI provides back to front office investment management software solutions and services to the global investment management industry. The firm is asset agnostic and supports 150 of the world’s top tier hedge funds accounting for in excess of $1 trillion AUM, as well as mutual fund managers, Fund of Funds, Family Offices and directly investing institutions.

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