TRADING UP: New Role for JPM’s Pomraning; NYSE’s Crutchfield Moving On
Deutsche Bank, the German bank that has been under scrutiny lately as it struggles to return to profitability, is reportedly set to hire approximately 100 people globally, including traders, salespeople and technologists. The move follows a culling of its trading business which culminated in the departure of one of its most prominent executives, Jose Marques, the New York-based global head of electronic equity execution who left in December 2014. His role was filled by London-based Andrew Morgan and Robert Casebourne who became co- heads of electronic trading. Andre Crawford-Brunt remains the firm’s global head of equity trading.
Bob Jain has reportedly left his role as global head of Credit Suisse Asset Management to share the chief investment officer role at Millennium Management. Jain will manage capital allocations and risk amid rapid growth and an expansion in fixed income and commodities. He served as a managing director of Credit Suisse since January 1996. At the bulge firm, he served in several roles including head of arbitrage strategies, program trading and advanced execution services in equities. Jain began his career as an options sales trader at O’Connor & Associates.
If you have a new job or promotion, let me know at email@example.com
Anthony Fraser has joined J.P. Morgan as regional head of derivatives clearing operations and global head of derivatives clearing change. Fraser has been a part of Goldman Sachs’ derivatives unit for over eight years. He most recently served as global head of clearing operations and client experience, a unit focused on Goldman’s client clearing unit.
Also at JPM, Brian Pomraning has been named to run the firm’s Americas electronic equities trading business, known also as its electronic client solutions unit, according to an internal memo sent by Daniel Ciment, global head of equities electronic trading, and Tim Johnston, head of EMEA cash equity trading. Pomraning had been in charge of the equities electronic trading business in EMEA, and will be replaced in that role by Sarah Heffron, currently a member of the equities electronic trading team in New York, principally focused on quantitative investor services. Pomraning will report to Ciment, the previous head of the Americas electronic equity business who has filled in the role after Frank Troise, the former global head, left to take the top job at ITG.
ITG announced that Andrew Larkin will rejoin the firm on April 11, as managing director in charge of Posit Alert client coverage. He will report to Jamie Selway, the firm’s head of electronic brokerage. Larkin was most recently at Bloomberg, where he worked in its Tradebook product group. Prior to joining Bloomberg, he spent 20 years with ITG in a number of different capacities, including being in charge of client coverage for the EMS and OMS product suite and head of East Coast sales and trading. He also established ITG’s first office in Europe. He started his career at Salomon Brothers.
CME Group has named Deutsche Bank’s former head of FX prime brokerage, Paul Houston, to lead its global FX business. Based in London, Houston will lead CME’s development, execution and management of its FX business globally. Previously he was head of FX & fixed income prime brokerage and listed derivatives client solutions in EMEA for Deutsche Bank. He also ran the global FX prime brokerage teams at a number of banks including Credit Suisse, RBS and JP Morgan.
Phil Bak, a managing director charged with managing the NYSE’s ETF listing-sales business, has left the company after six years to become chief executive of CSat Investment Advisory LP, a money-management company that is considering developing an ETF based on research about customer satisfaction with brands. His resignation comes just a few days after Steve Crutchfield, the exchange’s head of options, exchange-traded products and bonds, announced his intentions to leave the firm to join the Chicago Trading Company.
The Hong Kong Stock Exchange’s Chow Chung Kong was re-appointed as its chairman for the third time. His next two-year term is set to begin on April 28. He also serves as an independent non-executive director, a position he has held since April 2012. Kong was named chairman first on April 27, 2012.
Featured image by treety/Dollar Photo Club
The bookbuilding platform is scheduled for launch in Europe in 2022.
Global ETFs had record net inflows of $1.3 trillion in 2021.
The Universities Superannuation Scheme is the UK’s largest private pension scheme.
Buy-side and sell-side firms need to integrate applications to streamline traders' UX.
Passive funds represented nearly all U.S. equity inflows.