ON THE MOVE: Finucane, Montag Retire From BoA; Tradeweb Adds Shanmugham08.30.2021
Bank of America has announced the retirement of Anne Finucane, Vice Chairman, and Thomas Montag, Chief Operating Officer and President of Global Banking and Markets. Both executives are members of the company’s executive management team and report to Chairman and Chief Executive Officer Brian Moynihan. Finucane and Montag will remain in their roles until the end of 2021.
Succession plans will be announced in the coming weeks. Finucane has held numerous roles at the bank since she joined predecessor company, Fleet Bank, 26 years ago. Following her retirement, Finucane will transition to a non-executive chairman role at Bank of America Europe and will move to a non-executive board member role on BofA Securities Europe. Also, she will become a member of the company’s Global Advisory Council. Montag joined the company in 2008 as Executive VP and Head of global sales and trading at Merrill Lynch, prior to the company’s merger with Bank of America. Following his retirement, Montag will become a member of the company’s Global Advisory Council.
Tradeweb Markets has appointed Devi Shanmugham as Global Head of Compliance. Shanmugham is responsible for continuing to foster Tradeweb’s culture of compliance and further developing the company’s relationships with regulators around the world. She reports to Scott Zucker, Chief Risk and Administrative Officer. Shanmugham joins Tradeweb from Bloomberg, where she was Chief Compliance Officer for Bloomberg Swap Execution Facility.
Calamos Investments has hired Environmental, Social, and Governance investing pioneers Anthony (Tony) Tursich and James (Jim) Madden to lead the development of focused sustainable investment products. Tursich and Madden helped set industry standards for ESG focused investing at Portfolio 21 where they developed one of the first sustainable research platforms in 1999, combining environmental criteria with fundamental research to identify companies positioned to thrive in an evolving environment. They co-managed portfolios until 2018, when Tursich founded Pearl Impact Capital (PIC), an investment boutique offering sustainable investment strategies in US, International and Global equities. PIC, including its composite track records, will be acquired by Calamos Investments as a part of this initiative.
Bravura Solutions has appointed Nick Parsons as the company’s new Chief Executive Officer, with Tony Klim stepping down, effective September 3, 2021. Based in London, Parsons has over 30 years of experience in the IT industry specialising in financial sector solutions. Parsons joined Bravura as its Chief Technology Officer in 2007, undertaking a range of senior leadership roles in the business including Business Development Director, before moving into the Global Chief Operating Officer role in 2020.
The Securities and Exchange Commission (SEC) has announced that Joseph K. Brenner has retired as the Chief Counsel of the Division of Enforcement, a role he held since January 2011. As Chief Counsel, Mr. Brenner served as the head of the Division of Enforcement’s Office of Chief Counsel, where he oversaw the process of providing legal and policy advice on potential enforcement actions and other critical issues to the Division’s leadership and 1400-person staff. The SEC has also announced the appointment of Barbara Roper as Senior Advisor to the Chair. Roper’s focus will be on issues relating to retail investor protection, including matters relating to policy, broker-dealer oversight, investment adviser oversight, and examinations. She is currently the Director of Investor Protection for the Consumer Federation of America (CFA).
Aquis Exchange has appointed Daniel (Danny) Lopez to the board of its subsidiary, Aquis Stock Exchange (AQSE), the primary market for growth companies, as an independent non-executive director (NED). Lopez brings a deep knowledge of next-generation technology to AQSE, with significant experience across financial services and cyber security technology. He is the CEO of Glasswall, as well as a non-executive director of Innovate Finance.
Dawn Stump will provide advice and support the firm’s regulatory engagement and policy development strategy.
The fintech aims to accelerate out-of-the-box connectivity and interoperability across apps on a desktop.
Former Co-CEO passed away at the age 59 after a long illness.
The defendants engaged in a widespread spoofing, market manipulation, and fraud scheme.
The committee plays a critical role in defining the Derivatives Service Bureau’s technology roadmap.