Rathgeber joins Fidelity as VP for Agency Lending product strategy
Fidelity Agency Lending announced that Jill Rathgeber will be joining the Product Strategy team as vice president. She was previously a a director in the Product and Strategy group at BNY Mellon, responsible for the development of new products for the Securities Finance business.
Prior to joining BNY Mellon, Rathgeber spent 20 years with State Street Global Markets’ Securities Finance division in various roles, including 10 years in the Securities Finance product development group managing the US product development team. In this role, she was responsible for conducting the due diligence for all new products and product expansions for both the agency and principal lending businesses.
Rathgeber’s also spent seven years as an International Equities Trader covering global equity markets, and is a co-founder and global tri-chair of Women in Securities Finance. She will be reporting to Justin Aldridge.
UK government taps Douglas for T+1 Taskforce Technical Group chair
Andrew Douglas announced on his Linked In that he has been confirmed by the UK government as chair of the UK T+1 Accelerated Settlement Taskforce, Technical Group.
“Many thanks to [Taskforce chair] Charlie Geffen for successfully delivering his recommendation which contains a number of clear guidelines and targets for us to work with,” Douglas wrote. “I am confident that with the continued support of more than 80 firms and industry associations from the first phase of this important project, that we will deliver a successful result, critical to the UK maintaining its position as one of the premier global financial services centres.”
Douglas is currently a Board Advisor and Consultant, and has been one of the co-leads of the UK Accelerated Settlement taskforce, started in early 2023 as a result of the Edinburgh reforms. He’s also held roles at the Bank of England, UK Financial Conduct Authority, and the Depository Trust and Clearing Corporation, serving int he role of managing director for Government Relations in Europe, Middle East and Africa as well as Asia.
Martynas Pilkis leaves Lithuania central bank for DLT startup
Martynas Pilkis announced on Linked In that he will be starting a new role as Business Development Officer at Axiology, a startup developing DLT-based securities trading and settlement infrastructure. He describes the role as “Using DLT to reduce costs associated with issuance, trading, settlement, and reporting, thus enhancing the EU capital market for businesses and individual investors.”
Previously, Pilkis was the principal economist in the Market Infrastructure Department at the Bank of Lithuania, coordinating actions to implement Markets in Crypto-Assets (MiCA) regulation. He’s also been a visiting member of the Secretariat at the Committee on Payments and Market Infrastructures (CPMI).
“Reflecting on the time I spent at Lietuvos bankas (Bank of Lithuania) and the Bank for International Settlements – BIS Committee on Payments and Market Infrastructures (CPMI) Secretariat, I am grateful to my former colleagues for their unwavering support, collaboration, and dedication to driving changes in the financial landscape. Together, we’ve navigated through many challenges, studied and embraced innovation, and contributed to shaping the future of finance,” he wrote. “Joining the Axiology team is an exciting hands-on opportunity for me to continue driving innovative solutions and foster positive changes in the financial sector.”
Kevin Stine named director of NIST’s Information Technology Laboratory
The US Department of Commerce’s National Institute of Standards and Technology (NIST) has named Kevin Stine as the new director of the agency’s Information Technology Laboratory (ITL). Stine headed ITL’s Applied Cybersecurity Division, where he oversaw development of the NIST Cybersecurity Framework.
ITL, one of NIST’s six research laboratories, focuses on information technology measurement, testing and standards with the goal of cultivating trust in IT. With more than 600 staff and guest researchers, ITL supports measurement science at NIST through fundamental and applied research in computer science, mathematics, statistics, systems engineering, and cybersecurity and privacy.
Under Secretary of Commerce for Standards and Technology and NIST Director Laurie Locascio, said in a statement: “He spearheaded the development of NIST’s Cybersecurity Framework, one of the world’s leading sources of cybersecurity guidance, and he has expanded several programs critical to national and economic security.”
Since 2015, Stine has served as chief of ITL’s Applied Cybersecurity Division, which develops and enables the implementation of practical cybersecurity and privacy through outreach and effective application of standards and best practices.
Bloomberg: Citi’s restructuring hits TMT coverage hard as changes conclude
Citigroup implemented a fresh round of job cuts in its US investment bank, according to people familiar with the matter who were speaking with Bloomberg. Technology, media and telecom was among the coverage areas hit hardest at the Wall Street lender, with several senior bankers as well as those in more junior roles affected, the people said.
Managing directors Yaseen Choudhury and Abhi Singhal, who both belonged to the financial technology team, have left the bank, the people said. Both joined Citigroup in 2022, according to their LinkedIn profiles. Citigroup said planned changes are concluded.
Binance announces first board of directors after US money laundering sanctions
Binance Holdings announced its recently appointed its inaugural board of directors. This change comes after Binance pleaded guilty last year to allegations of anti-money laundering and sanctions violations in the US.
The newly formed seven-member board of directors will be chaired by Gabriel Abed, the former ambassador of Barbados to the UAE. Binance CEO Richard Teng, and senior executives Heina Chen, Jinkai He, and Lilai Wang, all Binance early employees and co-founders, join Abed on the board. Other board members include Arnaud Ventura, managing partner at investment firm Gojo & Co., and Bayview Acquisition Corp CEO, Xin Wang.
Austin Campbell, a consultant for blockchain firms and adjunct professor at Columbia Business School was cited in the company statement as saying that although he finds “the board selection leaning heavily towards company insiders that might resist external governance and control, he recognizes it as a progressive move at Binance that will be indicative of the company’s forward direction”.
This significant change in leadership is viewed as a central shift at Binance under the supervision of CEO Richard Teng, appointed in November following Binance’s settlement with US authorities. Since its establishment in China in 2017, Binance claimed to operate without a global headquarters. Teng, however, has indicated the desire to apply a more conventional corporate structure, including defining its headquarters and effective board of directors.
This development comes after Binance agreed to pay $4.3 billion following the acceptance of a plea deal by a US judge in February.
Binance’s founder Changpeng Zhao also admitted guilt to charges of anti-money laundering and sanctions. Zhao’s sentencing is expected later in April.