People moves: Citi nabs JPM and Citadel staff, Baton names Kemp president, and more

Citi has hired Dheeraj Daswani from JP Morgan as product head for equities in Asia, according to two sources. He is currently head of treasury for over-the-counter clearing and futures and options for the Americas at JP Morgan. Daswani is based in New York but will move to Singapore for the new role. He has been in senior clearing treasury roles since 2013. Citi and JP Morgan declined to comment.

Citi has also recruited Timothy Tomalin-Reeves to head up a new financial resource management function within the bank’s enlarged equities division. According to his LinkedIn profile, Tomalin-Reeves joined Citi in July, but his move has not been reported anywhere. He was previously a treasurer at Citadel and, prior to that, worked in the prime brokerage business of Goldman Sachs, with responsibility for capital utilisation.

Citi is currently integrating its cash equity, derivatives, prime services and clearing businesses as part of an effort to become a top-tier equities house. Last year, it hired Fater Belbachir from Barclays, with a mandate to grow Citi’s equities businesses. The clearing, foreign exchange prime brokerage and futures execution businesses were moved into his remit in February.

Ian Nissen, previously Citi’s head of futures, clearing and collateral for the Asia-Pacific region, moved from Singapore to Australia earlier this year to take a new role in the equities division. He has been tasked with enhancing Australia and New Zealand equities product capabilities within cash, prime brokerage and FX.

Baton Systems, a settlement technology firm, has appointed Jerome Kemp as president. Kemp was thought to have retired from finance in July 2020, after standing down as global head of futures and over-the-counter clearing at Citi.

During his nine years at Citi, Kemp helped build the bank’s OTC clearing platform and saw his responsibilities expand in 2019 to include foreign exchange prime brokerage after the unit suffered a $180 million loss. Prior to Citi, he spent 17 years at JP Morgan, 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 desk in Tokyo, before leading the Europe, Middle East and Africa business and being named global co-head of futures in 2008.

In his new role at Baton Systems, Kemp will work closely with Baton founder and chief executive officer Arjun Jayaram.

Elsewhere at Baton, William Coen, former secretary-general of the Basel Committee on Banking Supervision, has joined as a senior adviser. Coen is a former US financial regulator, with experience at the Office of the Comptroller of the Currency and the Federal Reserve Board. He served as a member of the secretariat for the Basel Committee on Banking Supervision between 1999 and 2002, before working his way up to deputy secretary general of the committee in 2007 and secretary general in 2014 – a position he held for five years.

Coen will sit on Baton Systems’ senior advisory board, alongside another recent appointee, Christopher Giancarlo, the former chairman of the Commodity Futures Trading Commission who joined last April.

Citi has rehired Sylvie Renaud-Calmel as head of markets for the bank’s global markets Europe division. Renaud-Calmel joins from French bank Societe Generale, where was a senior risk consultant. Before joining SG in 2018, she spent 12 years at Citi – most recently serving as head of rates trading between 2016 and 2018, according to her LinkedIn profile. In her new role at Citi, Renaud-Calmel is based in Paris and reports to Leo Arduini, head of markets for Europe, the Middle East and Africa, and Kristine Braden, chief executive officer of global markets Europe.

Citi has also named Richard Lancaster and Jose Luis Yepez as co-heads of local markets rates trading. Lancaster was previously regional head of frontier markets rates trading. Before that, he was regional co-head of emerging markets credit trading. Yepez has been at Citi for 37 years and was previously head of rates and currencies trading for Asia-Pacific. Other roles include head of Latin America foreign exchange and local markets trading.

Credit Suisse’s US head of prime derivatives services, Terry Burke, has left the Swiss bank. His departure comes five months after Credit Suisse’s prime brokerage division lost an estimated $5.5 billion following the collapse of family office Archegos Capital Management.

Burke joined in 2018 after spending two years at CME as part of the client development and sales team, according to his LinkedIn profile. Before that, he spent five years at Barclays as head of Americas futures and options distribution. A spokesperson for Credit Suisse confirmed Burke’s departure. His future plans are unclear.

Dan Crowley is to join Deutsche Bank as head of US credit trading in December. Crowley leaves BNP Paribas where he has spent the last three years as head of Americas credit trading and head of global flow credit trading. He previously spent eight years at Barclays as head of global distressed credit and before that was a credit trader at Lehman Brothers. In his new role, Crowley will be based in New York and report to James Davies, head of Deutsche Bank’s institutional client group and US investment bank, and Chetan Shah, head of global financing and credit trading.

Nomura has named Jeff McDermott as global co-head of investment banking, a newly created role. In effect, McDermott will act as a deputy to Masahiro Goto, global head of investment banking. He will also focus on expanding the company’s US investment banking franchise. McDermott reports globally to Goto, and locally to Christopher Willcox, chief executive officer and president of the bank’s US arm, Nomura Securities International.

McDermott is the founder and chairman of Nomura Greentech, a fully integrated investment banking team within Nomura created in April last year. Before that, he served as joint global head of investment banking at UBS. According to his LinkedIn profile, he also spent almost 12 years as managing partner of Greentech Capital Advisors between 2009 and 2020.

Danielle Baron has been appointed global head of structured finance by Crédit Agricole. Baron originally joined the French bank in 2009 as part of the power team, working on advisory and arranging mandates in Europe and the Middle East. In 2012, she was named head of energy and infrastructure for Latin America before becoming global head of power and utilities three years later in 2015 – a role she has held ever since.

Before joining Crédit Agricole in 2009, she spent three years as a director at HSBC and prior to that spent three years as a director at ANZ Bank. In her new role at Crédit Agricole, Baron reports to Jean-François Balaÿ, deputy chief executive officer.

Dan Berkovitz, a Democratic commissioner of the US Commodity Futures Trading Commission, has been appointed general counsel of the Securities and Exchange Commission, effective November 1. Before joining the CFTC in 2018, Berkovitz spent five years as a partner at the law firm WilmerHale. Prior to that, he served as general counsel for the CFTC between 2009 and 2013, helping develop the Dodd-Frank Act’s rules for the swaps market following the financial crisis.

Berkovitz will replace John Coates at the SEC, who was named general counsel in June. Coates is due to depart in October, returning to teaching at Harvard University. His work at the SEC included advising on the meme stock volatility, special purpose acquisition companies, disclosures of climate-related financial risks and the Treasury market.

Berkovitz’s departure will leave the CFTC with only two commissioners out of the usual five: Rostin Behnam, another Democrat, and Dawn Stump, a Republican commissioner.

Wells Fargo has hired Paul Camp as head of global treasury management. Camp is currently head of treasury services at BNY Mellon. Prior to joining BNY Mellon in 2018, he spent three years at the financial technology firm Circle. Before that, he was global head of transaction services at JP Morgan. Camp starts his new role at Wells Fargo in November, reporting to Perry Pelos, chief executive officer of Wells Fargo commercial banking and Jon Weiss, chief executive officer of corporate and investment banking.

A spokesperson for BNY Mellon confirms that Paul Adamo, chief financial officer and chief operating officer, will serve as interim head of treasury services until a replacement for Camp has been found.

Verena Ross has been selected as the new chair of the European Securities and Markets Authority for a five-year term, following a vote by the European Parliament. Ross had served as executive director of Esma for 10 years – the longest allowed tenure – until May 29 this year. Before joining Esma in 2011, she worked in a number of senior roles at the UK’s financial regulator.

Ross will take over from Anneli Tuominen, Esma vice-chair, who has been serving as interim chair since April 1. Tuominen replaced Steven Maijoor, after Maijoor’s second five-year mandate as Esma chair came to an end on March 31.

The European Central Bank has appointed Isabel Vansteenkiste as director-general for international and European relations. Taking up the role on November 1, she will monitor and forecast global economic trends and prepare policy positions on international and EU matters. Vansteenkiste is currently deputy director-general of monetary policy for the ECB and was previously deputy director-general of economics.

Vansteenkiste will succeed Hans-Joachim Klöckers after he retires from the ECB on October 31. Klöckers has served as director-general for international and European relations since 2018. In total, he has spent more than 23 years at the ECB in a variety of roles.

The European Stability Mechanism has appointed Silke Weiss as head of funding and investor relations, effective October 1. She has held the role in an acting capacity since October 2020. Before that, she was team lead for planning and execution. Earlier in her career, Weiss was a trader at JP Morgan.

Elsewhere at the ESM, Tiny Ergo has been named head of asset and liability management and financial structuring. She joins the organisation from Bpost Bank, where she was a non-executive director.

On September 9, Ed Tilly, chairman, president and chief executive of Cboe Global Markets, began a two-year term as chairman of the World Federation of Exchanges, which represents exchanges and clearing houses. Until earlier this year, he had served as WFE vice-chairman. In his new role, Tilly replaces Urs Rüegsegger, chairman of Six Swiss Exchange.

Before he became Cboe chief executive, Tilly was the company’s president and chief operating officer between 2011–13 and executive vice-chairman between 2006–2011.

Brevan Howard Asset Management has hired Colleen Sullivan to lead its private and venture investment activities in crypto assets. Previously, she headed up CMT Digital, a proprietary trading and asset management firm she co-founded. Under Sullivan’s leadership, CMT Digital specialised in trading crypto assets and investing in blockchain technology.

Sullivan is among a number of key hires Brevan Howard is making for BH Digital, a new division for managing cryptocurrency and digital assets.

Additional reporting by Costas Mourselas