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People news – February/March 2021

Appointments, promotions and other people news in the derivatives industry  

12 March 2021

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Moriyuki Iwanaga has been appointed president and CEO of Osaka Exchange, the main derivatives market of the Japan Exchange Group. He replaces Hiromi Yamaji who has been named as the new president and CEO of the Tokyo Stock Exchange. Iwanaga is currently senior executive vice president of Japan Securities Clearing Corp., the JPX clearinghouse. Yumaji will fill the gap left by the former head of TSE, Miyahara Koichiro, who resigned after the equity market had its worst-ever outage in October. Both Iwanaga and Yamaji will take on the new roles on 1 April.

Paul Chow
Paul Chow

Hong Kong Exchanges and Clearing has appointed Paul Chow as its group general counsel, with effect on 19 April. Chow will head HKEX's legal and secretarial services department, overseeing the group's legal function, including the teams at the London Metal Exchange and LME Clear. He fills the vacancy left when Ferheen Mahomed departed the exchange late last year. Chow will report to HKEX interim chief executive Calvin Tai and will become a member of the group’s management committee. He joins from Cathay Pacific Airways, where he is group general counsel and company secretary. Previously, he was a partner at several law firms, including Davis Polk & Wardwell, Linklaters, and Slaughter and May.

The UK Financial Conduct Authority has made four appointments to its executive team: Stephanie Cohen has been appointed FCA’s chief operating officer; Jessica Rusu will join as the FCA's first chief data, information and intelligence officer; Sarah Pritchard will become executive director, markets; and Emily Shepperd will take up the newly created role of executive director, authorisations. All four women will sit on FCA’s executive committee, its most senior executive decision-making body. The regulator has also appointed Clare Cole as director of market oversight. Cohen joins from BlackRock where she was the global COO for the active equity businesses and the alpha strategies division. Rusu is currently chief data officer at Chetwood Financial, a digital challenger bank. Pritchard joins from the National Economic Crime Centre, a UK government body, where she is the director. All three will join in June. Shepperd, who joins in March, was most recently director of customer services and change at Aegon UK. Cole has been acting director of market oversight since December.

Ho Hern Shin
Ho Hern Shin

The Monetary Authority of Singapore has announced several changes among its senior leadership team. Ho Hern Shin, currently assistant managing director for banking and insurance, will be promoted to deputy managing director for financial supervision. She will take over from Ong Chong Tee, who is leaving after 16 years at MAS. Lim Tuang Lee, currently assistant managing director for organisation and people development, will be re-designated assistant managing director for capital markets. He will take over from Lee Boon Ngiap, who is leaving MAS. Bernard Wee, currently assistant managing director for finance, risk and currency, will be re-designated assistant managing director for markets and investment. He will take over from Leong Sing Chiong, deputy managing director for markets and development, who has been covering this role since 1 February 2021.

The European Securities and Markets Authority has selected Natasha Cazenave as its candidate for the position of executive director to replace Verena Ross, who has served the maximum term allowed under the ESMA Regulation and steps down on 29 May. Cazenave is currently deputy secretary-general and head of the Policy and International Affairs Directorate at Autorité des Marchés Financiers (AMF). The incoming executive director will be appointed to serve a five-year term, renewable once. The ESMA board of supervisors' decision follows an open selection process, which it has communicated to the European Parliament. The board will appoint the candidate following confirmation by the Parliament, with the confirmation process expected to take place in the coming weeks.

Western Asset Management, one of the largest fixed income asset managers in the world, has hired Ric Okun as global head of technology. He is based at the firm’s headquarters in Pasadena, Calif., and reports to chief operating officer Jennifer Murphy. Okun previously worked at Pacific Investment Management Co. for nearly 20 years, and most recently held the position of executive vice president and head of application development and strategic initiatives.

Chris Mahoney
Chris Mahoney

ED&F Man, the agricultural commodities and financial services merchant, has appointed Chris Mahoney as its non-executive chairman. Mahoney brings almost 40 years’ experience in the agricultural commodity processing, handling and trading industry with a particular focus on soft commodities and the grain and oilseeds sectors. Mahoney was previous CEO of Glencore Agriculture, a position he held for 17 years. The appointment follows the decision to return to the group’s traditional governance structure separating the roles of chairman and chief executive. Rafael Muguiro, who previously held both posts, will focus on his role as CEO, with overall responsibility for leading the management team.

Interdealer broker TP ICAP has promoted Andrew Polydor to head of global markets, reporting to Nicolas Breteau, chief executive of TP ICAP. In this newly created role, Polydor will be responsible for the group’s global broking division in addition to his current responsibilities as head of TP ICAP’s energy and commodities division, a position he has held for the past 12 years. Two deputy heads, to be announced shortly, will support him in leading and growing the E&C franchise. Polydor set up Prebon Energy Sydney in the late 1990s and established Prebon Environmental Consultancy Services before transferring to London to run Prebon’s energy business in Europe. He was promoted to global head of E&C at Tullett Prebon in 2008, becoming CEO TP ICAP E&C in 2016.  

Citi has promoted Diana Shapiro to head of FX and collateral services for North America within the bank's security services franchise. In addition to her existing responsibilities leading the collateral management business, she is now responsible for providing FX solutions to help Citi’s institutional clients settle securities and manage FX exposures.

Stephanie Dumont
Stephanie Dumont

The Financial Industry Regulatory Authority, the self-regulatory body for the US securities industry, has promoted Stephanie Dumont to the role of executive vice president and head of market regulation and transparency services, reporting to president and CEO Robert Cook. Dumont was previously senior vice president and director of capital markets policy for FINRA's Office of General Counsel.

Marex Spectron has added a new energy futures trading and clearing group to its North America franchise, operating out of New York. The team, composed of seven exchange-traded energy market professionals led by Martin Timmins, joined from ED&F Man Capital Markets to service a broad range of commercial hedgers and institutional investors. Timmins, a 35-year veteran in energy futures markets, most recently served as managing director and global head of energy at ED&F Man. Timmins reports to Ram Vittal, CEO, Marex North America. The team also includes Lauren Kane, Matthew Ventura, Christopher Timmins, Joseph Mancino, Joseph Posillico and Robert Hadley.

The board of directors for National Futures Association, the self-regulatory organization for the US derivatives industry, has re-elected Maureen Downs of Phillip Capital to serve another one-year term as chair. The board also re-elected Don Thompson of JPMorgan Chase to serve as vice-chair.

Chicago-based technology provider Trading Technologies has reshuffled its leadership team following the recent departures of chief executive Rick Lane and chief financial officer and president Michael Kraines, both of whom left to pursue other opportunities. Lane was replaced by former global head of sales, Tim Geannopulos, who was appointed chairman and chief executive. Farley Owens is now president. Previously, he served as head of product marketing and executive vice president of product management and marketing. Roger Mills, a 20-year veteran of the company, is now chief financial officer. He was previously executive vice president of finance. Guy Scott is now global head of sales. He was previously managing director of sales, Americas. Bharat Mittal is now chief technology officer after previously serving as executive vice president of engineering and architecture. 

Naureen Hassan
Naureen Hassan

The Federal Reserve Bank of New York has appointed Naureen Hassan as first vice president and chief operating officer. As first vice president, Hassan will be the New York Fed’s second-ranking officer as well as an alternate voting member of the Federal Open Market Committee. For the past four years, Hassan was chief digital officer of wealth management at Morgan Stanley.  Prior to that, she was at Charles Schwab, beginning as a vice president of corporate strategy and ending her tenure as executive vice president of investor services, segments and platforms.

Managed Funds Association has appointed Jillien Flores as head of US government affairs and promoted Jennifer Han to chief counsel and head of regulatory affairs. Flores joins MFA from Vanguard where she served on the government relations team. Previously she worked at government relations and public affairs firm Porterfield, Lowenthal, Fettig & Sears. Han has held several roles in her nearly 15-year tenure at MFA. Prior to MFA, she was a staff attorney at the US Securities and Exchange Commission. Both Flores and Han report to Andrew Lowenthal, managing director, head of global policy. 

 

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