People moves: Citi clearing head Kemp retires, Sapcanin made CRO of European markets, HSBC GAM hires Axa’s Leon, and more

Jerome Kemp, global head of futures and over-the-counter clearing at Citi, has retired from a 36-year career in finance, the past nine of which were at the US bank.

Joining Citi in 2011, Kemp helped build the bank’s OTC clearing platform. His responsibilities were expanded last year to include foreign exchange prime brokerage after it suffered a $180 million loss under the bank’s FX business line

Kemp has been an influential voice for the clearing industry in its various advocacy efforts. Under his leadership, Citi was named OTC client clearer of the year multiple times by Risk.net.

Prior to Citi, Kemp spent 17 years at JP Morgan, first joining from Oddo & Cie as an associate in 1991, before being promoted to manage the US bank’s business in Paris in 1995. He subsequently ran JP Morgan’s Asia futures business in Tokyo, before leading the Europe, Middle East and Africa business and being named global co-head of futures in 2008. Citi is looking to identify his successor in due course.

Citi has also appointed Amela Sapcanin as chief risk officer of Citi Global Markets Europe (CGME) and Germany. Based in Frankfurt, Sapcanin will also join the management board of CGME, succeeding Ingo Mandt.

Sapcanin has spent 20 years at Citi, most recently serving as the regional risk head for the Emea private bank. Before joining Citi, she was a diplomatic representative for Bosnia and Herzegovina in the United Nations in New York, and also worked for the World Bank.

Daniel Leon has joined HSBC Global Asset Management as its global head of trading, treasury management and global solutions.

Leon joins from Axa Investment Managers, where he was global head of trading, security financing and derivatives. Prior to that, he was head of client solutions development at Axa IM, where his other roles have included chief investment officer for investment solutions.

Before joining Axa IM in 2014, Leon was head of the solutions trading group at BNP Paribas. He was previously head of structured rates trading for Europe and Asia at the French bank.

In his new role, he will be responsible for direction and oversight of the firm’s trading and treasury management activities and global investor solutions. He will also look after global counterparty relationships and establish a dedicated treasury management function to support client portfolios.

Lorenzo Bergomi, Risk.net’s Quant of the year for 2009, has joined Squarepoint Capital to lead volatility modelling and derivatives pricing efforts.

Bergomi previously spent 23 years at Societe Generale – most recently as head of quantitative research. Between 1994 and 1997, he also served as a visiting scientist at Massachusetts Institute of Technology.

Ice has appointed Hester Serafini as president of Ice Clear Europe, the London-based arm of the clearing house. Serafini has been interim president of Ice Clear Europe since February. She had held her previous position as president and chief operating officer of Ice Clear US since 2017.

Serafini earlier led the OTC clearing and intermediation business for credit, FX and rates derivatives in Emea at JP Morgan. She previously served as global head of credit prime brokerage and clearing at Deutsche Bank.

Also, Kevin McClear has been appointed president of Ice Clear US, moving from his current role as CRO at Ice. McClear previously served as general counsel and corporate secretary of Ice Clear US for credit default swaps, having joined in 2009. Prior to that, he was assistant general counsel of the Chicago Board of Trade.

TP Icap has appointed Holden Sibley as head of its FX Hub service. Sibley was previously head of Americas eFX distribution at Barclays in New York. He left in February, having served the UK bank for 17 years in various electronic product and distribution roles.

In his new role, Sibley will focus on building out the broker’s electronic FX offering across both the Tullet Prebon and Icap brands.

Manan Rawal has joined MUFG as head of model risk management for the Americas. Rawal joins from HSBC, where he spent almost 15 years, most recently as head of US model risk management and innovation lead for global risk strategy. Before that, he spent almost four years as convertible arbitrage portfolio manager at DKR Capital. In his new role, Rawal reports to Donna Dellosso, CRO for the Americas.

Darren Dempsey has joined BNY Mellon’s spot FX team in London as senior principal trader. Dempsey joins the American bank from Stone Milliner Asset Management, where he was a trader on the fund’s multi-asset principal execution desk. Before joining the investment firm, he held principal trader roles across spot and forwards in both G10 and emerging markets at Nomura, Barclays and Lehman Brothers. In his new role, Dempsey reports to Dan Madeira, head of spot and e-trading Emea, and Jeff Leal, global head of spot and FX electronic markets.

Elsewhere in the bank, Geoff Yu joins the markets business as primary market strategist for Emea. Yu joins from UBS Wealth Management, where he most recently served as UK chief investment officer. Prior to this, he served as head of FX strategy for UBS and held a number of other positions in London, Singapore and Zurich during his 14 years with the firm. In his new role at the US bank, Yu is based in London and reports to Daniel Tenengauzer, head of markets strategy.

Deutsche Bank has hired Chris Smith as a managing director in UK foreign exchange sales, focusing on UK real money clients. Smith rejoins the German bank after spending seven years at HSBC as head of hedge fund sales, having left his director role at Deustche in 2008. He previously spent a year as a director at Citi and four years as a director at Credit Suisse. In his new role, Smith reports to Sarah Cattee, head of UK FX real money and eFX sales.

Jack Johnson has joined UBS as an emerging markets FX trader. Johnson previously spent four years at Morgan Stanley as an FX and EM trader. He previously held various roles including EM and FX sales and trading analysis at the American firm.

Mark Shillam, head of emerging markets trading at Mizuho in London, has left the bank after seven years. Prior to joining the Japanese bank, he was head of EM hard currency trading at Credit Suisse.