TRADING UP: KeyCorp Adds MBS Team; Lacour Takes Over HSBC EMEA Equities
KeyBanc Capital Markets has beefed up its New York fixed income sales and trading with the addition of a seven-person mortgage-backed securities team. Joe Vaccaro joins as managing director and head of mortgage trading, reporting to Tom Goodrick, managing director and head of fixed income trading. Vaccaro will be responsible for developing and managing a competitive secondary trading desk while partnering with the bank’s real estate capital and mortgage financing units. He brings nearly 15 years of experience with structured credit products and joins from RBC Capital Markets, where he was a managing director and head of U.S. mortgage credit trading. Prior to that, he held various senior positions with Amherst Securities, Merrill Lynch and Bear Stearns.
Steve Palmer also was added as a senior MBS trader responsible for RMBS agency trading. Jiwon Park joined in a trader and analyst role and will focus on all MBS credit products. The new trading team will work alongside existing MBS desk members Bill Chambers and Raymond Lafontant.
In coordination with the development this secondary trading desk, the firm also hired Michael Corsi as a managing director and will co-head MBS sales with Keith Newman, rates sales manager. Chris Heaney, Chris Flaten and Chris Morello also joined the bank on the fixed income sales team, reporting to Corsi and Newman.
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Franck Lacour has assumed control of HSBC’s equities operations – including sales trading – in EMEA, according to a memo sent to staff and seen by Markets Media. Lacour will hold on to his existing responsibilities as head of equity trading globally and taking on the responsibilities of David Long, the bank’s former EMEA head of equities who left last summer. He joined HSBC in September 2010 as its global head of equity trading from Barclays, where he was head of Europe and Asia derivatives for seven years. He now reports to Patrick George, HSBC’s global head of equities, and Niall Cameron, head of its markets business in EMEA.
Schroders Investment Management has bought Brookfield Investment Management’s asset-backed securities and mortgage-backed securities (ABS/MBS) capabilities in an effort to deepen its fixed income offerings in North America. The Brookfield team is led by Michelle Russell-Dowe, Managing Director and Head of Securitized Products and will combine with the existing ABS team at Schroders to manage a combined $8 billion.
Former Societe Generale head of credit index and options trading Louis Charvet and energy trader Marwan Meroue have left the bank and are launching a new agricultural-focused commodity fund. The new fund, Baal Capital, is set to launch later this month running with external and internal capital and will seek to establish a six-month performance record before opening to further outside investment. Baal will focus on trading Ag and energy futures and options.
Brendan Bradley, global head of innovation management at Eurex, has left in order to pursue a new career in the financial technology industry. Bradley was previously Eurex’s global head of product strategy where he was responsible for all derivatives product development and maintenance at the exchange.
TMX Group announced the retirement of John McCoach, president of TSX Venture Exchange, a wholly-owned subsidiary of TMX Group, effective December 31. McCoach has served in executive roles since joining TMX in 2003 and has been Venture’s president for six years. He will remain president until his retirement date and no successor has been selected or named.
SR Labs announced that Kevin Fellows has re-joined the company in a senior pre-sales engineering role. Having previously spent nine years with Wombat and NYSE Technologies, Fellows has extensive knowledge of the SR Labs product set. He will report to Dave Carson, head of global sales engineering.
Aberdeen Asset Management has appointed Campbell Fleming as its new global head of distribution. Campbell succeeded John Brett who stepped down from the role late last year. In this role, Campbell is responsible for Aberdeen’s global distribution platform encompassing 450 people across business development, product specialists, marketing and client service. Campbell came from Threadneedle where he served as global chief operating officer. Before that, he was with JP Morgan as its head of distribution. He reports to chief executive Martin Gilbert.
OppenheimerFunds has hired Sharon French as its head of beta solutions. In this role, French will be responsible for growing the firm’s smart beta business by marketing the firm’s factor weighted ETFs as well as developing new multi-factor products to help meet client demand. French came from BNY Mellon, where she was senior strategic advisor to the CEO and President of Investment Management, focusing on ETF and multi asset business growth. Before that, she served as president of F-Squared Capital. Earlier in her career she was head of private client & institutions at BlackRock for its iShares business. She has also worked at AllianceBernstein, and held prior roles at mPower, Smith Barney, and Chase Manhattan Bank. French will be based in New York and report to Art Steinmetz, chairman and CEO of OppenheimerFunds.
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