Financial services appointments weekly wrap
HONG KONG EXCHANGES AND CLEARING (HKEx)
Martin Abbott quit as chief of the London Metal Exchange (LME) on 6 June, six months after triumphantly steering a sale to HKEx. LME is the world’s biggest marketplace for materials such as copper and zinc.
NIKKO ASSET MANAGEMENT
The Tokyo-based mutual fund manager named Takumi Shibata as chairman, effective 1 July, in an appointment it said would bolster governance ahead of a planned listing of its shares. Shibata will assume the post from Charles Beazley, who will stay as president and CEO. Shibata resigned as chief operating officer of Nomura Holdings last year but stayed on as an adviser before closing out his 37-year career with the group in March.
The institutional equities arm of Macquarie Group appointed Bharat Rawla as managing director and head of Macquarie Securities India. Rawla joins Macquarie from Morgan Stanley in London where he was managing director.
STANDARD BANK GROUP
The bank appointed Tim Clarke as head of mining and metals research and Kim Silberman as South Africa economist. Clarke will join the group in early September and Silberman in July.
BANK OF AMERICA MERRILL LYNCH
The bank is bringing back its former head of municipal research after last week’s departure of its three top municipal analysts. Philip Fischer, who ran the group from 2004 to 2009, will rejoin the firm on 10 June, according to an internal memo seen by Reuters.
WELLS FARGO & CO
The bank has expanded its independent adviser division in Texas with a veteran hire from rival brokerage firm UBS Wealth Management Americas.
The asset manager has named a former search firm adviser and the former leader of General Electric’s asset management business to its board, replacing two directors who will step down in July.
The investment banking arm of Otkritie Financial Corp named Nikolay Katorzhnov as chief executive. Katorzhnov, who joined Otkritie in 2009, will oversee Otkritie Financial Corps’s investment banking and institutional brokerage business. The firm also named Georgy Mirel as head of equities at Otkritie Capital and Konstantin Tserazov as head of fixed income.