People moves round-up: Broadridge, Deutsche Bank, J.P. Morgan, ISSA, MUFG, Northern Trust, Phillip Capital, Pirum

Northern Trust’s Justin Chapman joins ISSA Board

The International Securities Services Association (ISSA) announced that Justin Chapman has joined the ISSA Board. Chapman leads Northern Trust’s Digital Assets and Financial Markets group, a single market facing team unifying digital and traditional market functions and providing access to market-leading expertise, industry insights and continued innovations.

The group combines teams from Northern Trust’s Digital Asset Innovation, which leads digital asset advocacy and innovation research; Financial Institutions Group, responsible for large, strategic relationships; and Network Management, which provides market access and insights across more than 100 traditional securities services markets around the globe. Chapman and his team are focused on developing services and capabilities that reflect and enable clients’ evolving investment strategies, providing them with market access support and holistic solutions across the full spectrum of investment types and markets.

Vicky Kyproglou, ISSA Board chair said in a statement: “Justin joining as its representative is great news for ISSA. His background in the industry is extensive and the knowledge he brings of both the industry and also working with other Association Boards will greatly add to our already strong Board. The ISSA Board looks forward to working with him in fulfilling our mission to shape the future of securities services”.

Chapman said in a statement: “I am pleased to be joining the ISSA Board as we have seen the change that it has driven both within ISSA but, more importantly, in increasing ISSA’s relevance to the global securities market. I look forward to working with the Board and team, in helping to shape the future of the global securities services industry.”

Broadridge shakes up Investor Communication Solutions business

Broadridge Financial Solutions announced the appointment of Michael Tae and Doug DeSchutter as co-presidents of its Investor Communication Solutions (ICS) business. In their new roles, Tae and DeSchutter will be responsible for all aspects of the company’s ICS business segment, including the bank broker-dealer, corporate issuer, mutual fund and retirement, and customer communications solutions businesses.

As part of the long-planned leadership transition, current President Bob Schifellite will move into a new advisory role engaging with clients and advising Mike and Doug as Chairman of Broadridge’s ICS. In his new role, Schifellite will engage with clients and advise the ICS executive team on long-term vision and goals.

“Mike and Doug are proven leaders with a strong track record of leveraging innovation to deepen our relationships with clients and deliver strong financial results for our shareholders. I’m confident they will help drive the continued evolution of our investor communications business by accelerating innovation and driving digitization,” said Tim Gokey, CEO of Broadridge, in a statement. “I am also excited to work with Bob in his new role, where he will use his strong relationships and tremendous leadership to help our business continue to grow.”

Tae was named President of ICS’s Mutual Funds, Retirement, Issuer and Data & Analytics businesses in January 2023. Since joining Broadridge in 2017, Tae has led Broadridge’s efforts to enhance innovation through a combination of acquisitions and internal investments, first as chief strategy and product development officer and then later as chief transformation officer for ICS. He has also driven the company’s regulatory strategy, with a focus on developing solutions to enhance the effectiveness of fund and retail investor communications. As executive chair of Broadridge’s Multi-Cultural Associate Network, he has been a champion of the company’s DEI initiatives. Tae began his career at McKinsey & Company before moving to Merrill Lynch investment banking as a vice president in their Financial Institutions Group. He later served as director of Investments for the Troubled Asset Relief Program (TARP) at the US Department of Treasury.

DeSchutter took the helm of Broadridge’s Bank Broker-Dealer business in January 2023, adding leadership of Broadridge’s Proxy, Prospectus, and related businesses to his prior role as president of Broadridge Customer Communications. He has been a member of the executive committee for 16 years, joining Broadridge as chief strategy and corporate development officer when it first became an independent company. Over the past decade, he has led the company’s digital disruption strategy, using technology-led product innovation to create next-gen digital offerings for the market and drive Broadridge to become the leading omni-channel communications provider. Prior to joining Broadridge, he held various leadership roles at ADP and was vice president, Technology M&A at Lehman Brothers.

Pirum welcomes Jacob Koopmans as chief revenue officer

Pirum announced that Jacob Koopmans has been appointed as CRO. Koopmans will be taking on sales responsibilities from Karl Wyborn who will be taking some time out of the business. He will be responsible for fostering strong partnerships with clients and enhancing Pirum’s marketing capabilities, and joins with a 20-year track record in capital markets.

“I would like to thank Karl for all the hard work and effort in making Pirum the business it is today, he has been a fantastic colleague, leader and friend to the business. Whilst sad to see him leave, I respect the decision he came to earlier this year,” said Phil Morgan, Pirum’s CEO, in a statement.

Koopman said in a statement: “I’m thrilled to embark on this new journey with Pirum and am committed to furthering the innovative spirit and collaborative environment that the company stands for.”

MUFG hires Mullboccus to head Asia equity lending

Mitsubishi UFJ Trust & Banking Corporation has appointed Reshad Mullboccus as executive director and head of Asia equity lending. Based in London, Mullboccus will join the global securities lending solutions team, writes SFT.

Mullboccus brings more than 18 years of industry experience to the role. He joins the Japanese bank from an eight-year tenure at HSBC where he was most recently global head of product management for agency securities lending.

In a Linked In post, Tim Smollen, global head of Global Securities Lending Solutions at MUFG, said: “Pleased to welcome Reshad Mullboccus to the GSLS team here at MUFG Investor Services. He will be based in London but with a steely eyed focus on Asia!”

J.P. Morgan appoints Deng to prime finance team in London

J.P. Morgan has appointed Koko Deng to its prime finance margin trading team in London, covering Europe, Middle East and Africa (EMEA) institutional asset managers. Deng previously worked for CCP Investments between 2018 and 2021, where she was most recently an associate for the global equity finance trader, working within exposure, leverage and liquidity management, writes SFT.

In a LinkedIn post, Deng said: “I’m happy to share that I’m starting a new position as Prime Finance, Margin Trading at J.P. Morgan!”

Dieter Bernhard retires from Deutsche Bank

Dieter Bernhard has announced his retirement from Deutsche Bank. He was director and head of investor services custody and clearing for Western Europe at the company for almost 10 years, writes SFT. As part of the role, he was responsible for the Western European custody market’s direction and client satisfaction, and coordinated the bank’s market advocacy initiatives, including the implementation of its Target2Securites solution.

David DeMarco hired as securities lending trade manager at Phillip Capital 

Chicago-based broker-dealer Phillip Capital has appointed David DeMarco as securities lending trade manager, writes SFT. He joins Phillip Capital from Stonewain Systems where he was a senior business analyst from 2021. Prior to this, DeMarco worked at BMO Global Asset Management from 2005 to 2021. He held a number of positions within the asset manager, most recently as senior fixed income and equity securities lending trader.

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