Finance

Trading Places: Venkat rises at Barclays, SocGen names new CFO

It’s been another busy week of hires, promotions and departures in the City. While the highest-profile move was surely the exit of Barclays Chief Executive Officer Jes Staley, there was plenty more to take note of.

Staley quit after six years at the helm amid a regulatory probe into how he characterised his relationship with convicted sex offender Jeffrey Epstein. He’s being replaced by former JPMorgan banker CS Venkatakrishnan, who has been serving as head of global markets for over a year.

Over at UBS, CEO Ralph Hamers is slimming down the hierarchy by stripping away the group managing director rank, currently one of the Swiss lender’s seven layers of leadership. That will affect about 115 individuals. Their contractual conditions and compensation won’t change, however.

Societe Generale named Claire Dumas as chief financial officer starting 1 December. Outgoing CFO William Kadouch-Chassaing has decided to pursue opportunities outside of banking.

Goldman Sachs just promoted its biggest ever class of managing directors, though only 23% of those taking on the role are from Europe, the Middle East and Africa, down from 31% last year. Managing director is one level below partner at Goldman. Read all 643 names here.

Karlijn Van Lierop and Isabelle Meyer are joining BMO Global Asset Management as responsible investment product specialists. Lierop will start in January in the Netherlands, while Meyer started last month in Germany.

Over at Macquarie Asset Management, John Pickard is now deputy head of equities, reporting to John Leonard.

HSBC Asset Management appointed Daisy Ho as its new regional CEO for Asia Pacific and Hong Kong. Joining from Fidelity International, where she was president for China, Ho will report to HSBC AM chief Nicolas Moreau who recently relocated to Hong Kong from London.

Elsewhere, Natixis Investment Managers announced a pair of senior appointments. Melanie Robinson has been named global head of customer experience, a newly created role at the €1.2tn asset manager. Meanwhile Gad Amar joins from Edmond de Rothschild as international chief product officer.

In the legal world, Clifford Chance appointed Sonia Gilbert as London leader of its Tax, Pensions, Employment and Incentives practice for a period of 4 years starting in November. She takes over from Dan Neidle.

Freshfields Bruckhaus Deringer has a new global finance boss. London-based Neal Livingston joins from Dentons, where he was most recently chief financial officer and on the management committee and board. Prior to the legal sector, he had a long spell in banking, with roles at Bank of America, Royal Bank of Scotland, Standard Chartered and the Commonwealth Bank of Australia.

Moving to consulting, KPMG in London named Dean Brown as a partner and Shelley Doorey-Williams as an associate partner for its Wealth and Asset Management practice.

PwC beefed up its debt and capital advisory business with the appointment of Chris Hawes to lead its asset-based lending offerings. He joins a team of 30 debt specialists based in the UK.

Alvarez & Marsal named Stuart Deacon as a managing director to lead the Special Situations M&A team in the restructuring unit. Prior to joining A&M, Deacon built the special situations M&A practices at both EY and BDO.

In the fintech world, Blockchain.com hired an ex-Deutsche Bank executive as its first chief compliance officer. CJ Rinaldi will help the provider of cryptocurrency services develop legal frameworks for its business.

And Zopa Bank nabbed Graham Robinson, Monzo’s director of credit, to become its chief risk officer. The online lender is gearing up for an initial public offering after raising $300m in a funding round.

Finally, dealmakers are in demand. Daniel Ross, who took the reins of Deutsche Bank’s UK investment bank in August after a 12-year stint at Barclays, told Financial News that Germany’s biggest bank will continue to beef up its team, particularly as it bids to gain more M&A and equity advisory work.

Independent investment bank Lazard is also strengthening its team. It has hired 24 senior investment bankers and advisers this year and is continuing to bolster dealmaker numbers amid a boom that is as “good an M&A environment as we’ve ever seen”, according to CEO Ken Jacobs.

To contact the author of this story with feedback or news, email Brian Swint

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