TRADING UP: JPMorgan Shuffles Equities Staff; KeyBanc Hires ABS Team
JPMorgan announced a slew of staff changes within its equities team. After hiring Mark Leung and Jason Sippel as global co-heads of equities in September, the two dispatched a memo announcing multiple moves within the equities group.
Fater Belbachir is now the head of volatility trading globally and is going to relocate to London from New York. Previously, he oversaw Americas volatility trading and structuring.
Market veterans Luiz de Salvo and Dennis Fitzgerald are now global co-heads of cash trading and in charge of the Americas trading region. Both de Salvo and Fitzgerald were in charge of Americas cash trading.
Chris Berthe and Charles Chiang will now head the firm’s global delta one group and are charged with creating a synthetic equity business along alongside the bank’s prime brokerage business.
Relatedly, Paul Brannan and Jonathan Cossey are now co-heads of the global prime brokerage business. Brannan was previously US head while Cossey led Europe, the Middle East, and Africa.
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KeyBanc Capital Markets, the corporate and investment banking arm of Cleveland-based KeyCorp, has expanded its fixed income sales and trading platform through the addition of a five-person asset-backed securitization (ABS) team. First, the firm hired Andy Yuder, a 25-year industry veteran in ABS, as head of the new team. Yuder comes from BB&T Capital Markets after 13 years, where he served as managing director and group head. Before BB&T, he worked at Credit Suisse, Prudential Securities and ING in ABS.
Sales traders Alan Staggers, Paul Richardson, Jon Markiewicz, and Brian Switzer will join Yuder and also come from BB&T. As a team, the group executed ABS transactions across many asset categories, including: consumer, timeshare, credit cards, prime and subprime auto, insurance settlements, equipment, container and other conventional and esoteric asset types.
Staggers most recently served as a senior vice president and was with BB&T for more than 13 years. Richardson was with BB&T for nearly 13 years, most recently as a director. He also worked at Nomura Securities International, ING and Prudential Securities. Markiewicz comes from BB&T after more than 16 years, where he was a director responsible for all analytics related to asset-backed term securitizations and warehouse lending facilities. Switzer most recently served as an assistant vice president at BB&T, where he worked for more than five years after spending time with PNC Capital Markets.
Rupert Jones, the head of Morgan Stanley’s top-ranked equity research division in Europe has left his role, according to people familiar with the matter. His responsibilities have been taken up by Juliet Estridge, who was most recently the bank’s chief operating officer for European equities, the people said. It is the second high-profile change in Morgan Stanley’s research division since late summer. In September, the bank lost Huw van Steenis, who led its bank research team in Europe, to UK asset manager Schroders, where he is now global head of strategy.
Philip Weisberg is stepping down as head of trading at Thomson Reuters after more than four years. He joined the firm when it bought FXall, the currency trading platform he helped to found, in 2012. Michael Chin and Neill Penney will now jointly lead Thomson Reuters Trading business.
Goldman Sachs’ global head of derivatives clearing risk, Massimo Cutuli, has joined Citadel Securities in a senior risk management role, Risk.net has learned. The move is the latest in a raft of senior hires at the market-making firm, as it continues to expand its presence across the US and European securities markets amid a retreat by major dealers. Cutuli joined Citadel Securities on October 31. Based in Chicago, he is responsible for risk management for the firm in the US.
Nasdaq has promoted Valerie Bannert-Thurner to the new role of senior vice president, global head of risk and surveillance, responsible for strategy and growth within the Nasdaq technology division.
Exegy has added Steve Santivenere to its team of senior account managers. Mr. Santivenere will have global responsibilities for sales of Exegy market data solutions, reporting directly to chief operating officer Rod Arbaugh. Prior to joining Exegy, Mr. Santivenere held senior executive and sales positions at Aegis Software, Thomson Reuters, Pico Quantitative Trading, Flextrade, and Colt Technology Services.
Foreign exchange trading platform developer TraderTools announced the appointment of Andrew Levine as the firm’s new CEO. He will also take a seat on the company’s Board of Directors. Before taking on his role at TraderTools, Levine has worked at the Bank of New York Mellon, Convergex and most recently at Overstock’s subsidiaries SpeedRoute and tØ.
Deutsche Bank has promoted the COO of its Global Prime Finance arm, David Rhydderch, to global head of its fund administration arm, Alternative Fund Services. Rhydderch replaces Tim Fitzgerald, who left to join JP Morgan Hedge Fund Services in December, and has previously held a number senior positions within the bank. Fitzgerald joined JP Morgan at the end of 2015 to replace the outgoing Stephanie Miller, who joined SS&C GlobeOp in March in the newly created role of senior vice-president of sales implementation and strategy.
T Rowe Price announced that its Chairman and Chief Investment Officer, Brian Rogers, would retire on March 31, after nearly 35 years with the company. Rogers, who has been CIO since 2004, will continue on the board as non-executive chair after his retirement, the company said in a release. T. Rowe Price appointed six executives as CIOs effective March – Rob Sharps will be group CIO, Henry Ellenbogen CIO of US equity growth, David Giroux CIO of US equity multi-discipline, John Linehan CIO of US equity value, Justin Thomson CIO of international equity and Mark Vaselkiv CIO of fixed income.
Previously in Trading Up:
- TRADING UP: CBOE Lands Purohit in London; CS Snags Bardhan as Global Head of Prime
- TRADING UP: Citi Names Gately for Americas, Haldane for EMEA Equities
- TRADING UP: RJO Hires Staniford; UNTL Lands Grant Taylor for FX
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