ISLA announces appointment of Rishi Sethi as director
The International Securities Lending Association (ISLA) announced that Rishi Sethi has recently joined as a director of Content & Marketing. Based in London, Sethi will provide senior-level support to ISLA’s marketing and corporate communications efforts, ensuring its regulatory and advocacy work is showcased to members, regulators, and market participants across a range of channels.
Sethi has over 13 years of experience in financial services. Before joining ISLA, he was at Rabobank where he held several roles across Sustainability, Communications, and Marketing, and was most recently Communications and Marketing director for Rabobank’s UK operations.
Sejal Amin, ISLA’s head of Events, Marketing & Communications, said in a statement: “As part of our continued expansion in several key areas, I am delighted to welcome Rishi to the team. His specialist content and communications experience will be invaluable as we continue to expand our messaging to members, regulators, policymakers, and industry stakeholders alike.”
Northern Trust hires Binder for Global Collateral role
Northern Trust announced that Barney Binder has been hired as global head of Collateral. Based in London, Binder will lead the continued strategic evolution of Northern Trust’s global collateral capabilities across operations, product development and client service. He will report to Nadia Ivanova, head of Business Services at Northern Trust Asset Servicing.
In previous roles, Binder led fixed income derivatives and collateral capabilities at HSBC and Morgan Stanley. His background also includes engineering and consulting experience as well as global data operations.
DTCC appoints Gloria Lio as head of Enterprise Services
DTCC announced the appointment of Gloria Lio as managing director and head of Enterprise Services. She will also serve as a member of the DTCC Management Committee. As head of Enterprise Services, Lio will be responsible for leading strategy development for DTCC’s Global Business Operations, Client Services, Integration and Business Architecture. Additionally, she will help drive forward DTCC’s digitization efforts. She will report to Frank La Salla, DTCC’s president, chief executive officer and director.
La Salla said in a statement, “Gloria brings a strategic approach to leadership that supports DTCC’s continued focus on delivering outstanding results to our clients and key stakeholders. Within this role, she will lead and create new opportunities for greater synergies across the organization while delivering enhancements to our digitalization strategy and processes.”
Lio has over 25 years of experience in financial services, most recently at BNY Mellon where she served as global head of Custody and Middle Office Operations. Prior to that, Lio spent 20 years at Goldman Sachs, where she held a number of global and regional operational-related leadership roles.
Lio said in a statement: “I’m honored to join DTCC, an influential leader in the global financial markets that is respected for its role in protecting market safety and stability. I look forward to partnering across the organization to drive innovation and help deliver upon DTCC’s vision to serve as a strategic partner to clients while providing new and increased value to the industry.”
ECB appoints DNB’s Thijs van Woerden as director general for Horizontal Supervision
The Executive Board of the European Central Bank (ECB) has appointed Thijs van Woerden as director general Horizontal Line Supervision. In his new role, van Woerden will be responsible for providing the strategic direction of and managing horizontal line supervision. Alongside other areas of European banking supervision, this business area helps to develop and nurture a common understanding and coordinated approach to supervisory tasks.
In his current role at De Nederlandsche Bank (DNB), which he has held since 2018, van Woerden is responsible for all DNB staff working in Joint Supervisory Teams supervising Dutch significant banks. He previously held managerial roles in DNB’s Insurance Supervision and Supervision Policy Divisions. Before that, he worked at Accenture for several years. He succeeds Stefan Walter, who leaves at the end of the year.
The thematic supervisory teams of the Directorate General Horizontal Line Supervision perform horizontal tasks relating to all banks subject to European banking supervision. In particular, they support Joint Supervisory Teams by providing expertise on credit risk, capital markets, non-financial risks, business models, capital planning and crisis management, stress testing, supervisory policy, and supervisory methodologies. They conduct benchmarking and industry-wide assessments, such as thematic reviews.
NY Fed reelects Arvind Krishna and elects John Buhrmaster as directors
The Federal Reserve Bank of New York announced that Arvind Krishna, chair and chief executive officer of IBM, has been reelected as a Class B director. Class B directors represent the public with and give consideration to issues including the interests of agriculture, commerce, industry, services, labor, and consumers. Krishna was elected by member banks in Group 3, which are member banks with capital and surplus of less than $40 million.
As IBM’s chair and chief executive officer, Krishna has led the building and expansion of new markets in artificial intelligence, cloud, quantum computing, and blockchain. In addition, he founded IBM’s security software businesses and helped create the world’s first commercial wireless system.
In addition, John Buhrmaster, president and chief executive officer of 1st National Bank of Scotia, has been elected as a Class A Director representing and also elected by Group 3. Class A directors represent banks in the New York Fed’s region.
Buhrmaster is a fourth-generation banker who joined 1st National Bank of Scotia in 1986 as a teller. He first served as vice chair and then chair of the Consumer Financial Protection Bureau’s Community Bank Advisory Council (CBAC), in addition to serving as chair of CBAC’s Mortgage and Small Business subcommittee. Buhrmaster currently serves as chair of the Fidelity Information Services Core Banking Strategic Planning Advisory Council and serves as a director of the Senior Housing Crime Prevention Foundation, a subsidiary of the Independent Community Bankers of America (ICBA).
He served as national chair of the ICBA, chair of subsidiary ICBA Bancard, as a director of TCM Bank, a credit-card-only national bank, and chaired various community banking committees. He is a past chair of the Independent Bankers Association of New York State, and a member of the New York Bankers Association, currently serving on the Legislative & Regulatory Policy committee. He has testified before the House and Senate regarding community bank and consumer issues.
Hazeltree appoints Steve King as US director of Customer Success
Hazeltree announced the strategic appointment of Steve King as the US Director of Customer Success. With a career spanning nearly three decades, King brings expertise in margin and collateral technologies tailored specifically for the alternative asset management sector. He will report to Ayman Sakr, chief customer success officer at Hazeltree.
King has a background in managing the most intricate treasury products within the financial sector, having spearheaded innovative solutions in margin and collateral management for leading institutions. His tenure includes instrumental roles at BNY Mellon’s Pershing and UBS Investment Bank, where he notably led the development of cutting-edge technologies essential for hedge fund operations. He also held senior technology roles at ABN AMRO Bank N.V., ING Barings, and Furman Selz.
“We are pleased to be expanding our client service team at Hazeltree to ensure our customers are able to navigate uncertain market conditions,” said Sakr in a statement. “Steve’s vast experience in delivering high quality and efficient service to both internal and external clients will be critical as we expand our products and services globally.”
Aubrey’s Andrew Ward and Itaú USA’s Charles Ferraz join GBAM
Andrew Ward, CEO at the Edinburgh and London-based asset management boutique Aubrey Capital Management, and Charles Ferraz, CEO at the New York-based investment boutique Itaú USA Asset Management, have joined the Group of Boutique Asset Managers (GBAM) to share business perspectives.
GBAM is a global organization with boutique members across five continents. It comprises specialist asset management firms that share ideas to strengthen their presence in international markets. Ward and Ferraz have joined to add their experience into the mix across the network and increase the presence of both the Group and its constituents across the investment industry.
Ward has over eleven years of asset management experience following a 22-year career in the British Army. In 2012, Ward joined First State Investments from the British Army, where his last role was Commanding Officer of the Infantry Battle School. In 2019, Ward joined Aubrey Capital Management from Stewart Investors, following a path of multiple areas of the business as chief operations officer, chief compliance officer and director before being promoted to CEO in March 2022.
Charles Ferraz brings over 26 years of Brazilian and American asset management experience to GBAM, having worked in São Paulo, Miami and New York. Ferraz began in asset management at BankBoston in 1997. As managing partner, Ferraz oversaw the BankBoston Asset Management unit and managed approximately $13 billion in AUM as of 2006, when Itaú acquired BankBoston.
In August 2016, Ferraz assumed the role of CEO at Itaú USA Asset Management in New York responsible for the operations and the growth strategy of Itaú Asset Management across the US. Besides his executive role for Itau USA Asset Management, he is the Global head of Solutions at Itaú Asset Management, responsible for teams based in NY, Miami and Sao Paulo.
GBAM chair Tim Warrington said in a statement: “(Ward’s and Ferraz’s) expertise and proven success across multiple geographies will undoubtedly enhance our community’s collaborative spirit and innovation.”
SFT: Pirum hires Hamid
Securities finance services provider Pirum has appointed Sarah Hamid as key account director. Based in London, Hamid will work to accelerate the global adoption of the firm’s suite of post-trade services across securities lending, repo and futures, reported Securities Finance Times.
She will focus on combining Pirum’s client service with her knowledge of how enterprises can use multi-product tech suites to further their strategy, reduce outgoings and gain a competitive edge. Hamid brings more than 16 years of experience in managing accounts, sales and business development at fintech and financial services firms in the UK, Germany and France.
She joins Pirum from data analytics technology provider ActiveViam, where she was most recently senior global account manager. Hamid began her financial markets career in 2007 as a fixed income broker on interest rates futures and options, first at JB Drax and then at Tradition Securities and Futures.
Xceptor appoints Craig Nickerson as CFO
Xceptor announced the appointment of Craig Nickerson as chief financial officer. He supports the further strengthening of the Xceptor leadership team following the appointment of Fleur Sohtz as chief marketing officer and Nikki Feare as chief human resources officer earlier this year.
Nickerson has a background leading finance operations for global software companies. With over 20 years of experience, he has held leadership roles in several private equity-backed companies, including RSA Security, AFS Technologies (acquired by TELUS), Insightsoftware, the SAVO Group (acquired by Seismic) and Applied Global Technologies.
Reporting to CEO, Michiel Verhoeven, he will join both the Xceptor executive leadership team and Board, partnering closely with the business to execute on the firm’s growth strategy and optimize value creation. He will also manage investor relations.
Michiel Verhoeven, CEO, Xceptor, said in a statement: “(Craig’s) dynamic, forward-thinking approach to both business and financial strategy will be central to our continued growth as we further develop our data automation capabilities, grow our client base and develop new product offerings.”
Nickerson said in a statement: “Xceptor’s data automation platform and its ability to manage the most complex, unstructured data are unparalleled. It’s exciting to join the team and the company as it enters its next phase of growth. Being associated with a firm that has a reputation for scalable, trusted technology, and is supported by industry leaders and top-tier firms, is truly rewarding.”
US House FSC chair McHenry to retire
United States Congressman Patrick McHenry announced his retirement from Congress at the end of his current term. He serves as chair of the US House Financial Services Committee, where he advocated for innovative solutions that increase access to banking services and credit for American families and small businesses.