The Basel Committee on Banking Supervision announced the appointment of Carolyn Rogers as its next secretary general for an initial term of three years. She replaced William Coen, who has served as secretary general since 2014. Rogers has 20 years of executive management experience in the financial services industry, most recently working as assistant superintendent of regulation at the Office of the Superintendent of Financial Institutions in Canada. She will assume her new responsibilities in August, and will also serve as the chair of the committee's Policy Development Group.
The U.S. Securities and Exchange Commission announced that Jeffrey Dinwoodie has been appointed to the newly created position of senior counsel and policy advisor for market and activities-based risk. SEC Chairman Jay Clayton created this senior officer position to manage and coordinate the agency’s efforts to identify, monitor and respond to market risks affecting the U.S. capital markets. He also will serve as a representative to the Financial Stability Oversight Council, the body that coordinates policy among U.S. banking and market regulators. Dinwoodie joined the SEC in 2017 as a lead advisor to Clayton, and has managed and advised on key rulemaking and policy initiatives. Previously he was an associate in the financial institutions group at the law firm of Davis Polk & Wardwell.
The Federal Reserve Bank of New York has launched a Fintech Advisory Group. The primary goal of the Advisory Group is to present views and perspectives on the emerging issues related to financial technologies, the application and market impact of these technologies, and the potential impact on the Fed’s ability to achieve its missions. The members include Michael Bodson, the president and chief executive officer of the Depository Trust and Clearing Corporation; Gary Gensler, the former chairman of the Commodity Futures Trading Commission and now a senior advisor at the Massachusetts Institute of Technology; Lee Braine, a senior executive in the chief technology office of Barclays; and Ulku Rowe, director of financial services at Google Cloud. "The Fintech Advisory Group will provide the New York Fed with a more complete picture of the rapidly evolving fintech landscape," said Kevin Stiroh, executive vice president and head of the supervision group at the New York Fed. "The Advisory Group will also gather insights that may inform our interaction with market participants and institutions, our training and hiring efforts, and the application of innovative approaches for internal business use."
TP ICAP announced on March 12 that Mark Russell will join the interdealer broker as chief commercial officer, credit EMEA. He will start in the summary and will report to Frits Vogels, chief executive officer for EMEA. Russell was most recently head of credit at Tradeweb in Europe, and was responsible for the launch of its European matched principal trading business. Prior to that, he spent 19 years at UBS where he ran Bond Port, the bank's electronic bond trading platform.
RBC Capital Markets hired Michelle Neal to lead its U.S. fixed income, currencies and commodities division, with effect from June. The bank said she will be responsible for providing strategic leadership to its US FICC business in partnership with its global product, sales and regional heads. She will be based in New York and will report to Jonathan Hunter, the bank’s global head of FICC. She joined RBC from BNY Mellon, where she was chief executive officer of markets. Before that she was global head of listed derivatives, markets clearing and fixed-income market structure at Deutsche Bank. During her career, she has held seats on the board of several industry bodies including the Global Financial Markets Association, the Treasury Borrowing Advisory Committee and FIA.
R.J. O’Brien & Associates, the largest non-bank futures brokerage in the U.S., announced that the company plans to open an office in Paris, its first on mainland Europe, pending regulatory approval. Thomas Texier, currently the managing director of R.J. O’Brien Limited in London, will oversee new office. RJO said in a press release that the Paris office "will open with a team of experienced institutional brokers in addition to management and support staff."
Marex Spectron, the U.K.-based commodity broker, appointed Carla Stent as its first female board chair. Stent is the former chief operating officer at Virgin Group and deputy chief financial officer of the global retail banking arm of Barclays Bank. She served as chair of Marex Spectron's audit and compliance committee for the past four years. Stent will replace board member Simon Heale, former chief executive of the London Metal Exchange, who left the post in December.
Itiviti, a technology and service provider to financial institutions worldwide, has named Robert Mackay as its new chief executive officer. Mackay joined Itiviti from Fidelity National Information Services, the world’s largest provider of banking technology solutions, where he was most recently chief operating officer for its cross-asset trading and risk business unit. His previous management experience includes several positions at Sungard, which was acquired by FIS in 2015, including chief operating officer of hedge funds and risk and managing director of alternative investments.
GTS, a leading electronic trading firm and market-maker, appointed Michael Piwowar as a senior advisor. Piwowar is currently the executive director of the Milken Institute Center for Financial Markets and previously served as a commissioner and acting chairman of the U.S. Securities and Exchange Commission. He also served as a senior staff member on the President’s Council of Economic Advisers and worked as a staffer in the U.S. Senate, where he was involved in drafting in the Dodd-Frank-Act.
Richard Baker, president and CEO of the Managed Funds Association, has announced his plans to retire at the end of 2019. A former U.S. Congressman from Louisiana and senior member of the House Financial Services Committee, Baker joined the association in 2008 and helped lead MFA through the aftermath of the global financial crisis.
Stacie Hartman, a well-known U.S. derivatives lawyer, left the firm of Schiff Hardin and joined Steptoe & Johnson as co-chair of its financial services group. She will reside in the firm's Chicago office and also will maintain a New York office. Hartman focuses her practice on financial services litigation and enforcement, and has represented clients in court as well as enforcement proceedings before the Commodity Futures Trading Commission and the Securities and Exchange Commission.
Kraken, a digital asset exchange based in the U.S., hired several trading industry experts to support its growth. They include Steve Hunt, who previously worked at Jump Trading as chief technology officer, Bob Zagotta, who previously worked at CME Group as senior managing director of strategy and execution, and Mary Beth Buchanan, who joined the company from Bryan Cave where she headed the law firm's digital currency team. Kraken announced the hires shortly after acquiring Crypto Facilities, a U.K. based trading venue that offers futures on several cryptocurrencies.
Barclays named Anthony Macey, one of its experts on blockchain technology, as director of emerging technology for its venture capital arm, Barclays UK Ventures. Macey will be responsible for identifying the potential impact of blockchain, internet of things, quantum computing and other emerging technologies on existing business models and technologies and the potential for new products and solutions. Macey previously was the blockchain and distributed ledger technologies lead for Barclays UK Ventures.
Digital Asset, a provider of distributed ledger technology solutions, appointed Yuval Rooz as its chief executive officer. He filled the vacancy left when Blythe Masters resigned in December. Rooz is a co-founder of the firm and previously served as chief operating officer. Before his work with Digital Asset, he managed an electronic algorithmic trading desk for more than three years at DRW Trading Group and Citadel. Digital Asset’s executive chairman, A.G. Gangadhar, who has been the acting CEO in the interim, will continue to advise the company’s leadership team as executive chairman.
FIA has appointed Tze Min Yeo as vice president, legal and policy, Asia Pacific. She is based in the organization's Singapore office. Yeo is qualified as an attorney in England and Singapore, and joins FIA from Societe Generale with experience in corporate, financial and private practice. She also worked with the Singapore Exchange to create its OTC clearing rule book.