Daily People Moves – 7 November

Asset Management

ERSTE-SPARINVEST Kapitalanlagegesellschaft has merged with its parent company Erste Asset Management. All employees of ERSTE-SPARINVEST Kapitalanlagegesellschaft will be taken into Erste Asset Management, which includes organisational units and the management teams. The board of Erste Asset Management will remain unchanged, including Chief Executive Officer Heinz Bednar, Winfried Buchbauer, Wolfgang Traindl, and Peter Karl. Philipp Schifferegger remains as Head of Institutional Multi-Asset Management, while Alexander Lechner remains Head of Multi-Asset.

Alexander Friedman has stepped down as CEO of GAM. David Jacob, a board director, will take over on an interim basis.

Montpensier Finance has appointed Wilfrid Galand as Strategic Director.

Hedge Funds

Värde Partners has hired Mona Girotra as Global Head of Consultant Relations in Värde’s Business Development and Investor Relations group. She was most recently, a Managing Director in Business Development and Investor Relations at Highbridge Capital Management.

IBD / Capital Markets

Bank of America plans to hire as many as 50 senior dealmakers to revitalise its stuttering investment bank only weeks after overhauling the unit’s leadership in response to a slide in fees.

Mike O’Neill, Chairman of Citigroup, will retire on January 1, 2019. The Board has named John Dugan, one of its independent members to be its new Chairman.

UBS has poached three bankers from Nomura’s China research team, including Wendy Liu, who was Head of Greater China Equity Strategist and China Equity Research. She has been named as Head of China Equity Strategy. UBS has also hired Erin Zhang and Pulan Li from Nomura, and they will join Liu’s China equity strategy team.

DWS Group has named Thomas Kalthofer as Investment Director within its Global Infrastructure Investment business. He joins from Barclays.

Citigroup has named Philip Drury to run its London-based banking, capital markets and advisory business across Europe, the Middle East and Africa.


Validus Specialty, has hired Corina Monaghan, a senior JLT executive to lead its US political risk and credit insurance team based in New York.

Swiss Re Corporate Solutions, has appointed Michael LaRocca as Head Property & Specialty Lines North America.

Timothy Leung, former Head of Agency Sales at QBE Hong Kong, has succeeded Adeline Loh as QBE’s Head of Agency Business, Hong Kong.

The State-Owned Enterprises Ministry has appointed Hexana Tri Sasongko as President Director of state-owned life insurance company PT Asuransi Jiwasraya replacing Asmawi Syam. Hexana was previously the Investment, Information and Technology Director at the ministry. The ministry also replaced Muhammad Zamkhani from his position as Jiwasraya’s Human Resources Development and Obedience Director.

Private Banking / Wealth Management

Wells Fargo WFC -0.20% & Co.’s private bank head Jay Welker will retire at the end of March.

Boston Private Financial Holdings has named Anthony DeChellis as its next CEO, succeeding Clayton Deutsch. He also becomes CEO of unit Boston Private Bank & Trust.

The Italian branch of Indosuez Wealth Management has appointed Paolo Giolito as Senior Wealth Manager. He joins from Credit Suisse.

Mirabaud Group’s Managing Partners have appointed Nicolas Mirabaud and Michael Palma, currently both limited partners and members of the Executive Committee of Mirabaud & Cie SA, to the Board of Managing Partners, effective 1 January 2019. They have also appointed Camille Vial, Managing Partner, to the office of chairman of the Executive Committee of private bank Mirabaud & Cie SA. She  repalces Antonio Palma on 1 July 2019.

Dolfin has hired Richard Gray as Head of Investment Management. He joins from ACPI, where he was co-Head of Institutional Wealth Management.

Private Equity / Direct Investment

UBS Asset Management’s Real Estate & Private Markets (REPM) business has appointed Patrick Cunningham who was most recently a partner at McCarvill Capital Partners, and Viktor Kozel, who joins from Deutsche Bank.

Sellside – Sales; Trading; Structuring; Research

Anupama Agarwal is joining BNP Paribas’s Foreign Exchange, Local Markets and Commodities team in New York, with a focus on FX hedge fund sales.

Goldman Sachs has hired has appointed Thomas Doyle as Head of Single Stock Synthetic Products Group Distribution in Europe, the Middle East and Africa from Citigroup and David Cornish as Head of Quant Distribution from JPMorgan.


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