Northern Trust names Olivier Noel Noël as Luxembourg head
Northern Trust announced it’s appointed Olivier Noël as country head of Luxembourg and leader of its Luxembourg-based asset servicing business. Noël also assumes the position of CEO of Northern Trust’s European Union (EU) bank, Northern Trust Global Services SE (NTGS SE) following approval by its Board. He will also become a member of the NTGS SE Board.
Noël joined Northern Trust in 2005 as its head of Luxembourg transfer agency. In his 18-year career since, he has worked in senior roles including as chief operating officer (COO) of Northern Trust’s Luxembourg Global Fund Services (GFS) business from 2019, and as COO for NTGS SE since 2020. He has been a member of the NTGS SE authorised management team since 2020.
Noël will report to Clive Bellows, currently head of GFS, Europe, Middle East and Africa (EMEA) and who has been recently named to succeed Teresa Parker as president of Northern Trust’s EMEA business.
“Northern Trust first established a Luxembourg presence in 2004 to help clients take advantage of European fund opportunities,” Bellows said in a statement. “Today it is home to our EU bank and continues to be central to our Continental European strategy for growth and helping clients manage the increasing complexity of investing and doing business. We are excited to appoint Olivier to continue building our franchise through his leadership.”
Brown Brothers Harriman appoints six new general partners
Brown Brothers Harriman (BBH) announced the appointment of six new general partners: Christian Brunet, Hilary Capay, Orla Foley, Neil Hohmann, William Hyder, and Bradley Langer.
William Tyree, managing partner at BBH, said in a statement: “Our new partners each bring substantial BBH experience, deep product and service expertise, and a broad set of distinctive skills to their respective roles. Their appointments support the recent growth of the firm, natural leadership succession, and ongoing new product innovation and rollout. We are delighted to welcome them into the Partnership.”
- Christian Brunet joined BBH in 2006 and serves as head of Strategy, Finance, and Operations for Private Banking and Investment Management. In this role, he advises on the strategic and financial direction of the PB and IM businesses and oversees the day-to-day execution of the operational model to support them.
- Hilary Capay joined BBH in 1995 and is responsible for the firm’s Finance Division, including the Treasury and the Network & Counterparty Relationship Management practice. In this role, she is responsible for the firm’s balance sheet, its liquidity management, and oversight of the extensive network of correspondent banks with which BBH partners to deliver its services globally to clients.
- Orla Foley joined BBH in 1997 and serves as the global head of Relationship Management for Investor Services. In this role, she leads Investor Service’s Relationship Management teams across the globe, sets strategy for the Client Management function and personally leads a number of BBH’s largest client relationships.
- Neil Hohmann joined BBH in 2006 and serves as the head of Credit Alternatives and co-portfolio manager for BBH’s taxable fixed income strategies in Investment Management. In that role, he heads the Credit Alternatives team and leads investment in asset-backed securities, commercial and residential mortgage-backed securities, and financial institution credit. He is an active member of BBH’s Market Risk Oversight Committee.
- Bill Hyder joined BBH in 2002 and oversees the Southeast Region for Private Banking. In this role, he is responsible for market expansion, business development, relationship management, and talent development, as the firm grows its footprint in this expanding region of activity for Private Banking. Bill also personally leads a number of BBH’s largest private client relationships.
- Brad Langer joined BBH in 2001 and is responsible for BBH Capital Partners (BBHCP), the Private Equity Investment Division of Private Banking. He is co-manager of the BBHCP IV, V and VI funds and in this role, oversees the day-to-day management of BBHCP’s investing activities, including investment sourcing, suitability evaluation, transaction execution, portfolio company guidance and post-investment oversight.
ICMA announces 15 students for 2024 scholarship program
The International Capital Market Association announced the 15 students who have been selected from Africa and Asia to join its 2024 scholarship program.
The individuals were selected from an extensive number of applicants, based on their academic attainments and a personal statement on their suitability for their chosen course of study. The ICMA scholarship program is part of ICMA’s mission to raise standards and support inclusion in financial markets.
The new students will study online for an ICMA Diploma in either debt capital markets, securities & derivatives or financial market operations, starting next month.
Bryan Pascoe, ICMA’s chief exec, said in a statement: “ICMA’s scholarship program reflects our commitment to raise professional standards globally while assisting the development of emerging and frontier countries to foster the cross-border market. I would like to congratulate our 2024 scholars and I wish them all the best with their ongoing studies and careers.”
CFTC names Brian Young as director of whistleblower office\
Commodity Futures Trading Commission (CFTC) chair Rostin Behnam announced that Brian Young has been named the director of the CFTC’s Whistleblower Office.
Behnam said in a statement: “Brian’s extensive experience covering the issues directly impacting our markets will ensure the continued success of the CFTC’s Whistleblower program, and the urgent need to provide individuals who have information the assurances needed to come forward.”
“Leads generated from insiders are critically important to any financial enforcement program,” said Young in a statement, who comes to the CFTC from the Department of Justice (DOJ), where he was the acting director of litigation for the Antitrust Division. He has extensive experience as a derivatives and commodities fraud trial specialist who has tried several of the most significant white-collar crime matters in the past decade.
MUFG appoints Wael Al Sharif as head of Global Corporate and Investment Banking for MENA
MUFG announced the appointment of Wael Al Sharif as head of Global Corporate and Investment Banking (GCIB) for the Middle East and North Africa (MENA). As part of MUFG’s continued commitment to offering GCIB capabilities to clients within the region, Al Sharif, who previously held the role of deputy head for GCIB for MENA, will be responsible for overall management and development of the GCIB business in the MENA region.
He will report into Phillip Roberts, head of GCIB, MUFG EMEA and Yohsuke Takahashi, Regional Head for the Middle East. Al Sharif succeeds Elyas Al Gaseer, who will transition from his current role to become vice chair of GCIB MENA and will focus on advising MUFG’s senior clients across the MENA region.
Al Sharif said in a statement: “With our team’s expertise, we can provide local and multinational clients with bespoke financing solutions as well as providing a gateway for corporates in the Middle East to navigate opportunities in Japan and Asia with confidence.”
NY Fed CFO Helen Mucciolo to retire
The Federal Reserve Bank of New York announced that Helen Mucciolo, chief financial officer and head of the Corporate Group, will retire in the fall.
John Williams, president and chief executive officer of the New York Fed, said in a statement: “In her many roles in different Groups and as a member of the Executive Committee, she has left her mark across the Bank. Helen possesses a unique disposition that enables her to calmly and capably lead and drive progress, whether in urgent situations or during more normal times.”
From November 2020 through mid-March 2021 as well as from July 2022 through February 2023, she also held the role of acting first vice president and chief operating officer, serving as an alternate voting member of the Federal Open Market Committee.
Bloomberg: Wu Qing to become new CSRC head
China replaced the head of its securities regulator. Wu Qing, a banking and regulation veteran who earned the reputation as “the broker butcher” when he led a crackdown on traders in the mid-2000s, is replacing Yi Huiman as chairman and party chief of the China Securities Regulatory Commission (CSRC), according to Xinhua and reported by Bloomberg.
SFT: BlackRock hires Westcarr as securities lending trader
Joshua Westcarr has joined Blackrock as a securities lending trader, reports Securities Finance Times. Previously, Westcarr was at UBS, which he joined in 2019 with his most recent role as a securities lending trader assistant for the financial firm. Prior to this, he held multiple positions across client offboarding and regulatory maintenance.