BIS appoints Bank of Korea governor as chair of CGFS
The Bank for International Settlements (BIS) announced that its central bank Governors of the Global Economy Meeting (GEM) has appointed Chang Yong Rhee as chair of the Committee on the Global Financial System (CGFS) for a three-year term.
The CGFS is a central bank forum for monitoring financial sector developments and analyzing their implications for financial stability and central bank policy. Its secretariat is hosted and supported by the BIS in Basel.
Rhee succeeds Philip Lowe, who was CGFS Chair from June 2018 until the end of his term as governor of the Reserve Bank of Australia.Rhee has been Governor of the Bank of Korea since April 2022. He previously held senior positions at the International Monetary Fund and Asian Development Bank, as well as a tenured post at Seoul National University. He was Korea’s sherpa during its presidency of the G20 in 2010 and vice chair of Korea’s Financial Services Commission in 2008.
BancTrust announces new hires to Treasury & Securities Financing Team
BancTrust & Co. Investment Bank (BancTrust), the London-based emerging markets investment bank announced two new hires to its Treasury & Securities Financing Team.
The business unit has been joined by new hire Dipan Shah as head of Global Securities Financing and Natalie Daniels as senior trader for Global Securities Financing. Shah has over 15 years of experience in the financial markets, and prior to joining BancTrust, he was Head of Global Securities Financing at Sova Capital, where he successfully built up its securities financing capabilities across multiple markets and asset classes.
Daniels has over 15 years of experience in the financial markets. Prior to joining BancTrust, she was a senior trader in the Global Securities Financing department at Sova Capital, where she was responsible for trading a variety of securities financing products across a range of markets. She has gained significant back to front experience across the securities finance business over the years. She holds a BA (Hons) in Accounting & Finance.
Pamela Dyson to resign from New York Fed
The Federal Reserve Bank of New York announced that Pamela Dyson has decided to step down from her role as chief information officer and head of the Technology Group. She will be leaving the Bank in December 2023 to pursue a new opportunity.
Sushmita Shukla, the New York Fed’s first vice president and chief operating officer, will serve in an additional capacity as interim chief information officer and head of the Technology Group until a successor is named.
“Pam joined the Bank five years ago and soon after developed a bold vision for the Technology Group and the Bank that put our technology on a new foundation and positioned us for the future,” said John Williams, president and chief executive officer of the New York Fed. “She deftly led our Technology Group during times of significant change, as well as our shift to remote work during the pandemic. Pam’s dedication goes far beyond technology, and I thank her for her outstanding service to the Bank and our mission.”
Dyson was responsible for the strategic planning and governance of the New York Fed’s Information Technology, and the provisioning and delivery of technology services, and she was also a member of the New York Fed’s Executive Committee since she joined the Bank in 2018.
Global Investor: Clear Street hires Trimble ahead of futures clearing launch
Clear Street has hired experienced derivatives expert Steve Trimble in futures sales, marking the latest high-profile appointment by the US group as it prepares to launch a clearing broker. Trimble, who has nearly 40 years’ experience, joined Clear Street last month as a Chicago-based director of futures sales.
A spokesperson for Clear Street confirmed the appointment but declined to comment further. Trimble was most recently with Marex where he worked for seven months in sales before leaving that broker in June this year. Previously, he spent three-and-a-half years in sales at ED&F Man Capital Markets until that business was acquired by Marex in late 2022.