News By Sector: Banks and Thrift

Friday, July 30, 2010

J.P. Morgan Treasury Services Appoints Pravin Advani, Andrew Betts, David Conroy, Andrea Leonel, Kao Fang Ming and Prashant Pillai

J.P. Morgan Treasury Services, a division of JPMorgan Chase Bank, announced the appointment of Pravin Advani as managing director, global trade executive for Asia.

Advani will lead the global trade team in Asia where most of the company’s clients remain very active.

Advani has more than 20 years’ experience in the banking industry focusing on the pan-Asian, Eastern Europe and Middle East markets.

Andrew Betts was appointed as managing director, global head of supply chain.

In this new global trade position, Betts and his global team will deliver a proposition of modular, integrated solutions to address clients’ financing and regulatory needs across the entire supply chain.

David Conroy was appointed as regional trade executive for North America and global trade sales head.

Conroy joins the company from Deutsche Bank where he was Americas head of trade finance, and head of cash management for corporates, and led the franchise expansion.

Andrea Leonel was appointed as regional trade sales and advisory head, Latin America.

Based in Sao Paulo, Leonel is responsible for trade sales and advisory for the LatAm markets.

Previously at Deutsche Bank S.A. – Banco Alemao, Leonel was head of trade finance and interim head of cash management corporates with particular exposure to Brazil and South America.

Kao Fang Ming was appointed as trade head for China.

Ming assumes this newly created position with responsibility for partnering with the global corporate bank to lead global trade’s business and growth in this market.

Previously Ming was China head for global trade sales, trade, and supply chain at HSBC in China and worked at Standard Chartered Bank in transaction banking where she was based in Singapore, China, Hong Kong and London.

Prashant Pillai was also appointed as trade head for India and South Asia. -Business Wire


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Wednesday, July 28, 2010

Wells Fargo Appoints Sanjiv Sanghvi

Wells Fargo announced that it has named Sanjiv Sanghvi to lead the new Wells Fargo global banking division.

Sanghvi will lead the new division in supporting the financing needs of U.S. companies engaged in international business and working with overseas based multinationals operating in the U.S, as well as middle market and large U.S. and foreign owned companies, to provide cross-border financing, working capital, risk and treasury management, and trade finance services. -Business Wire


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Friday, July 23, 2010

UBS Appoints Jon-Paul Rorech

UBS has hired former Deutsche Bank bond and credit-derivatives salesman Jon-Paul Rorech as managing director in hedge-fund credit sales.


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Deutsche Bank Appoints Daniel Jacobowitz

Deutsche Bank announced the appointment of Daniel Jacobowitz, managing director, as deputy head of global banking, Russia and CIS, with immediate effect. Daniel will be based in Moscow and together with Andrew Chulack, head of global banking, Russia and CIS, will be responsible for deepening the Bank’s relationships with priority corporate and financial institution clients. In his new management role in Russia and CIS, Daniel will remain a core member of the Bank’s European Financial Institutions Group and will continue to co-lead Deutsche Bank’s Central and Eastern European financial services corporate finance practice. -Economic News


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Citigroup, Inc.’s Private Banking Division Appoints Nancy Pellegrino

Citigroup’s private banking division appointed Nancy Pellegrino as the company’s new head of operations in the Pacific Northwest. Pellegrino will be based out of Settle, WA and report to Tracey Warson, Citigroup Private Bank’s west coast regional executive. She previously worked at the Bank of New York Mellon’s wealth management division where she was also head of the Pacific Northwest region.


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Thursday, July 8, 2010

Wells Fargo Appoints Steve Godfrey

Wells Fargo announced that Steve Godfrey has been named head of its foreign exchange e-commerce division.

Based in San Francisco Godfrey will oversee strategy development and product execution for Wells Fargo’s electronic foreign exchange services. He will report to Sara Wardell-Smith.

Godfrey brings to Wells Fargo a wide range of banking experience focused on the design and deployment of global electronic trading systems. Prior to this role, he was head of foreign exchange esolutions at Bank of America where he was responsible for client-facing trading, hedging platforms and managed international payment products for retail and commercial customers through online cash management systems. Before joining Bank of America, he held positions at TSA Capital Management and Sanwa Trust Bank. -Business Wire


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Wednesday, June 30, 2010

Aladdin Capital Appoints Keith Innes

Aladdin Capital has appointed Keith Innes as its global head of sales. Innes joins Aladdin with over 25 years of financial industry experience in institutional sales at Lehman Brothers, Banque Indosuez (later bought by Credit Agricole) and most recently at Forum Partners. Innes will also serve on Aladdin’s executive committee. Innes will be based in Aladdin’s Stamford US headquarters and hold chief responsibility for oversight of Aladdin’s global distribution capabilities. -Hedgeweek


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Sarath Sathkumara Joins Taiyo Pacific Partners

Sarath Sathkumara has joined Taiyo Pacific Partners as a managing director and will help evaluate and capitalize on new investment opportunities in Asia for Taiyo Pacific Partners. Sarath has over 25 years of experience in international capital markets and investing. Most recently, Sarath was the chief investment officer of SBI Venture Capital in Singapore. From 2002 to 2008, Sarath was a senior portfolio manager with the State Street Global Advisors’ Emerging Markets Group in Boston.


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Monday, June 28, 2010

The Federal Reserve Bank of New York Announces Promotions

The Federal Reserve Bank of New York announced the following promotions.

Tobias Adrian has been promoted to vice president in the capital markets function of the research and statistics group. He had been assistant vice president in the same area since January 2009. He joined the bank in August 2003 as an economist and was named an officer of the New York Fed in June 2008 in the capital markets function.

Steven M. Friedman has been promoted to vice president in the markets operations, monitoring and analysis function of the markets group. He had been an assistant vice president in the markets group since January 2008. He joined the bank in August 1998 as a financial/economic analyst in the bank supervision group and was named an officer of the New York Fed in July 2005, assigned to the markets monitoring staff. He also served on the secretariat for the Basel Committee on Banking Supervision at the Bank for International Settlements from August 2005 to August 2007.

Evelyn E. Kender has been promoted to vice president in the human resources group. She had been an assistant vice president since January 1997. She joined the bank in July 1970 as a personnel assistant in the personnel relations division. In July 1985 she was named an officer of the New York Fed.

Barry M. Schindler has been promoted to vice president in the compliance function of the legal group. He had been an assistant vice president in the same area since May 2009. He was an assistant vice president in the communications group since November 2007. He joined the bank in September 1998 as a law clerk in the legal group and was named an officer of the New York Fed in December 2001. He was promoted to assistant vice president in January 2006.

Jainaryan Sooklal has been promoted to vice president in the funding and liquidity risk department of the bank supervision group. He joined the bank as an assistant vice president in April 2009. Prior to joining the New York Fed, he was a managing director, assistant treasurer and global head of long term financing at Morgan Stanley.

Maria Massei-Rosato has been promoted to assistant vice president of the corporate group.

Jhankhna Varma has been promoted to assistant vice president of the credit and payments risk group.

Brett S. Phillips has been promoted to assistant vice president of the legal group.

Karin J. Kimbrough and Deborah L. Leonard have been promoted to assistant vice president of the markets group.

Antoine Martin has been promoted to assistant vice president of the research and statistics group.

Michael J. Abbate, Alon Neches and Anna Chang have been promoted to assistant vice president of the special investments management group.

Robert Goodman, Nick Stanescu and Jason R. Zirpoli have been promoted to assistant vice president of the technology services group.

Kevin D. Krueger have been promoted to officer of the audit group.

Theonilla Lee-Chan and Lucette M. Pecoraro have been promoted to officer of the bank supervision group.

Ajay Badyat, David K. Clune and David G. Sewell have been promoted to officer of the legal group.

Jeffrey M. Moore and Peter J. Seigel have been promoted to officer of the markets group.

Alexandra Merle-Huet has been promoted to officer of the special investments management group.

Sreedevi Mandalapu has been promoted to officer of the technology services group.


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Monday, June 21, 2010

M&T Bank Appoints Christopher D. Randall

M&T Bank announced that Christopher D. Randall has been named as senior vice president.

Randall is also the acting president of M&T Securities and is responsible for administration within the M&T investment group. -Buffalo News (New York)


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Friday, June 18, 2010

Tennenbaum Capital Partners Hires Geoffrey Jones

Tennenbaum Capital Partners has hired Geoffrey Jones as a principal in anticipation of an ongoing need for backers of distressed businesses. Jones has experience in distressed debt and alternative investments, including restructurings and workouts.

Previously, he worked at Kohlberg Kravis Roberts where he was a principal on its team responsible for managing credit investments. He was with KKR for five years. Before that, Jones worked at BNY Mellon and previously held positions with Deloitte, Brown-Forman, and Benesch, Friedlander, Coplan & Aronoff. -Investment Dealers Digest


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Thursday, June 17, 2010

Ben Katz Joins HSBC

HSBC announced that Ben Katz has joined the company as head of financial investment- grade debt markets for the U.S. He will be based in New York and report to Rob Gelnaw, HSBC’s head of debt capital markets for North America.

Katz, who will oversee debt origination for U.S. institutions, will also co-head HSBC’s financing solutions group for the Americas with Matt Riez.

Katz previously was with Deutsche Bank.


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Monday, June 7, 2010

HSBC Appoints Helen Wong

HSBC announced that Helen Wong had been appointed as president and chief executive of its China operations. She replaces Richard Yorke.

Wong has been deputy chief executive of HSBC Bank (China) since September 2009. She is also an executive director of the board of HSBC Bank (China), and has been with the group since 1992. -South China Morning Post


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Friday, June 4, 2010

HSBC Appoints Mohammad Al Tuwaijri

HSBC has appointed Mohammad Al Tuwaijri as the new head of its global banking and markets division for the Middle East and North Africa.

Al Tuwaijri, a Saudi national, will focus on key markets in Saudi Arabia, Egypt and Abu Dhabi.

Al Tuwaijri joins HSBC from JP Morgan, where he was managing director and head of Saudi Arabia for the bank. Prior to that, he was treasurer at SABB, HSBC’s affiliate in the kingdom.


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Tuesday, June 1, 2010

HSBC Holdings Names Tony Cripps

HSBC Holdings named Tony Cripps as the new chief executive officer for the Philippines, effective August 1, 2010.

Cripps replaces Mark Watkinson, who will take over the post of executive vice president for commercial banking and regional president for Central and Eastern Canada.

Cripps has been head of global banking and markets at HSBC Bank Australia since 2009. He also serves as a strategic advisor on international market trends to HSBC’s management team. -Philippine Daily Inquirer


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Wells Fargo & Company Appoints Frank Annello

Wells Fargo & Company appointed Frank Annello as business development officer for its midwest division of the commercial banking group.

Mr. Annello will be based in Chicago and will focus on developing relationships in Chicago and Northern Illinois.

Mr. Annello joined Wells Fargo in 2006. Prior to this position, he was a vice president of originations with the Wells Fargo equipment finance group. -Datamonitor NewsWire


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Wednesday, May 26, 2010

Royal Bank of Scotland Group Appoints Viral Gathani, Wu Gang and Raghu Narain

Royal Bank of Scotland Group appointed Viral Gathani as head of energy and resources in Asia.

Gathani, who previously worked at private-equity house Warburg Pincus in Hong Kong, will oversee debt, equity and advisory products in the energy and resources sector throughout Asia. He will be based in Hong Kong.

RBS also appointed Wu Gang and Raghu Narain as co-heads of its global industrials group in Asia.

Wu previously worked at HSBC in deals origination.

Narain was previously head of transportation, infrastructure and gaming in Asia at RBS.


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Anglo Irish Bank Appoints Mark Layther

Anglo Irish Bank appointed Mark Layther to head the group recovery management unit.

Layther will effectively be in charge of managing loans that will be run down over time, either inside an internal ‘bad bank’ which Anglo is hoping Brussels will give it the go-ahead to set up or as part of a broader bank wind-down.

Mr. Layther joins from the private-equity firm Colony Capital, where he was chief executive of the Taiwan operations. He was also previously a partner with consultants Smith & Williamson, specialising in corporate recovery in both the firm’s Sydney and London offices.


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Friday, May 21, 2010

Nancy Feldman and Don Lipkin Join Wells Fargo

Wells Fargo announced that Nancy Feldman has joined the company as managing director and head of public finance credit strategies.

Don Lipkin has also joined as managing director and desk credit analyst.

In their roles within government & institutional banking (GIB), Feldman and Lipkin will provide credit strategy and analysis to issuers and investors, respectively.

Feldman will focus on strategies for municipal issuers to manage credit ratings, bond structure and execution options. She will report to Peter Hill, head of government & institutional banking’s public finance investment banking segment.

Lipkin will provide credit and market analytical reports for the top institutional investors and support flow trading. He will report to Martin Bingham, head of GIB’s sales, trading and syndicate segment.

Both executives are based in New York City.

With over 25 years of financial services experience, Feldman joins in the company from the State of New Jersey, where she served for four years as the director of the Treasury Department’s office of public finance.

Lipkin joins in the company from U.S. Trust, Bank of America Private Wealth Management, where he served for the last year as a managing director, senior research analyst and head of fixed income research. -Business Wire


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Thursday, May 20, 2010

HSBC Appoints Michael A. Reeves, Kenneth Sparks, Carter Waddell, Robert Klingensmith, Ann Conger, Amanda Gu, Shane Moore and Loren Glaser

HSBC Bank USA announced that it has appointed Kenneth Sparks to work with the D.C. premier team on business development, as well as strategic planning and marketing for different areas of the bank.

Sparks was formerly CEO of the Federal City Council, an economic and community development non-profit organization that consulted on projects such as the development of the Verizon Center in Washington D.C.

Carter Waddell has been appointed senior premier relationship manager (PRM), focusing on assisting law firms and legal professionals operating in the Mid-Atlantic.

Waddell has extensive international banking experience having been the general manager for SunTrust’s international division, where his responsibilities covered foreign multinational corporations, global treasury, trade finance and international operations. He also headed a foreign multinational banking unit for JPMorgan Chase Bank in Phoenix, Arizona.

Robert Klingensmith has been appointed as a senior PRM, focusing on serving the needs of higher net worth individuals and their families.

Klingensmith has over a decade of experience in asset management and private banking. He has previously served as a managing partner of an international private equity firm, worked as a private banker at Wachovia, and co-founded a registered investment advisory practice.

Ann Conger has been appointed as a senior PRM, assisting health care companies and professionals operating in the Mid-Atlantic.

Conger was formerly a client manager in Bank of America’s premier banking and investments group where she developed a large portfolio of high net worth individuals and professional firms. She began her career at what is now JPMorgan Chase in New York as a credit analyst and account officer on Fortune 500 companies.

Amanda Gu has been appointed as a senior PRM focusing on assisting premier clients.

Previously Gu worked in the group management office at HSBC Global Headquarters in London, providing internal advisory services for strategic development and promotion of the group’s international capabilities in China. Before joining HSBC, she served as an associate director for UBS Wealth Management in London.

Shane Moore has been appointed as a senior PRM focusing on meeting the needs of premier clients.

Previously, Moore worked as a financial advisor with Cary Street Partners, developing financial plans and managing portfolios for high net worth individuals and corporations in the Washington Metropolitan area. Prior to Cary Street Partners, he was a financial advisor with Legg Mason in Bethesda, MD.

Loren Glaser has been appointed as premier acquisition manager.

Glaser joins from The Potomac Group where he was a business development wholesaler focusing on the Mid-Atlantic Region. Prior to working with The Potomac Group, he worked in Boston for John Hancock Financial Services. -Business Wire


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Wednesday, May 19, 2010

BNP Paribas Appoints Michael Gordon and Isabelle Chevelard

BNP Paribas Asset Management has announced that it has appointed Michael Gordon as chief investment officer for equity. He reports to Christian Dargnat, chief investment officer of the multi-expertise investment center.

Gordon has more than 10 years of investment experience. He comes to BNP Paribas from Fidelity Investments International.

BNP Paribas has also named Isabelle Chevelard as head of its personal finance unit in France.

Chevelard has been working for the bank for more than 20 years. In 2009, she was appointed secretary general of the retail banking’s IT systems division. She has held various management positions at BNP Paribas, including project manager for the bank’s inspectorate general over the period 1994-1998.


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HSBC Appoints Ruth Kelly

HSBC Holdings has appointed the former Labour cabinet minister Ruth Kelly to the bank’s corporate development team as a managing director in its strategy unit.

Kelly will look at city reform and consumer protection.

Kelly was MP for Bolton West for 13 years from 1997, and has served as treasury minister, education secretary, transport secretary and communities secretary. -The Guardian (London)


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Monday, May 17, 2010

Capital One Bank Appoints James Jackson

Capital One Bank announced the appointment of James Jackson as Mid-Atlantic regional president. He will replace Pat Clancy.

As the leading Capital One Bank executive in the Mid-Atlantic, Jackson will be responsible for guiding the company’s strategic efforts to meet market and community needs through an array of company-wide resources, including philanthropy, volunteerism, and banking products and services. He will continue to serve in his functional role as executive vice president of branch distribution for the company, and will remain a member of the bank’s senior leadership team, reporting directly to Lynn Pike, president of Capital One Bank. -Business Wire


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Thursday, May 6, 2010

Wells Fargo Appoints Karen Wimbish

Wells Fargo announced that Karen H. Wimbish has been named the new leader of Wells Fargo Retail Retirement, part of Wells Fargo Retirement.

Wimbish, current president of Wells Fargo Advisors’ Latin America group, will relocate from St. Louis to Charlotte and report to John Papadopulos, president of Wells Fargo Retirement.

As head of Retail Retirement, Wimbish will lead a department of team members who are focused on increasing Wells Fargo’s ability to help retail customers, through multiple channels, plan for and live a comfortable, achievable retirement. She will work with Wells Fargo Advisors, Wells Fargo Wealth Management and Wells Fargo’s Community Bank to implement strategies that engage more current and prospective customers in retirement planning, products and services. -Business Wire


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Barclays Appoints Ralph Edwards, Matthew Elliott and Richard Catterall

Barclays announced that its corporate team in Newcastle has three new relationship directors with the appointment of Ralph Edwards, Matthew Elliott and Richard Catterall.

Edwards joins the team from the leveraged finance and strategic debt finance team.

Elliott has previously been responsible for business development and, most recently, a credit role supporting a number of high profile clients.

Catterall, a career banker with Barclays, has been promoted to head of agriculture, having spent the last ten years working in the rural sector for the bank. -The Journal (Newcastle, UK)


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Thursday, April 22, 2010

Patrick McBrien, Heidi Guldbrandsen and Scott Zelnick Join Barclays Wealth

Barclays Wealth, the wealth-management unit of Barclays, has added a team of high-producing financial advisers from Deutsche Bank.

Patrick McBrien, Heidi Guldbrandsen and Scott Zelnick have joined Barclays Wealth’s as managing directors. They will be based in the Barclay’s New York office and will reports to Mark Stevenson, managing director and head of the New York office.

Before joining Barclays, McBrien, Guldbrandsen and Zelnick has each worked at Deutsche Bank for more than seven years.


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HSBC Appoints Jason Henderson and Jamey Hubbs

HSBC announced that it has appointed Jason Henderson and Jamey Hubbs as co-heads of its global markets group in Canada, replacing Brad Meredith.

Mr. Henderson’s background includes currency and derivatives, while Mr. Hubbs is a credit markets specialist who previously worked in debt capital markets at TD Securities and National Bank Financial.


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Monday, April 19, 2010

Freddie Mac Appoints Robert D. Mailloux

Robert D. Mailloux was appointed senior vice president – corporate controller and principal accounting officer of Freddie Mac, effective April 16, 2010. He replaces Denny Fox.

Mr. Mailloux, 42, served as vice president – acting corporate controller beginning in November 2008. Prior to that appointment, he served as vice president – corporate and multifamily business segment controller, from May 2008 until November 2008. -SEC Form 8k


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Friday, April 16, 2010

Freddie Mac Appoints Anthony Renzi

Freddie Mac named Anthony (Tony) Renzi as executive vice president of single-family portfolio management, a newly created position.

Reporting to chief operating officer Bruce Witherell, Renzi will have responsibility for managing and minimizing the losses on the company’s single-family guaranteed portfolio, focusing primarily on non-performing loans and on servicer management, as well as oversee Freddie Mac’s loss mitigation activities. He will also manage the company’s relationships with servicers and its implementation of the company’s foreclosure avoidance efforts. He will assume his role on April 19, 2010.

Renzi is a 24-year veteran of GMAC Residential Capital (Res Cap), where he served in numerous leadership positions and gained considerable hands-on experience in operations, portfolio management and portfolio loss mitigation. He served as chief operating officer of Res Cap and president of GMAC Mortgage since 2008, and managed its operational and financial activities.


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Tuesday, April 13, 2010

Royal Bank of Scotland Group Appoints Suneel Kamlani

Royal Bank of Scotland Group named longtime UBS executive Suneel Kamlani as president of its investment bank.

Kamlani helped guide UBS through its subprime-mortgage troubles. -Wall Street Journal Abstracts


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Wednesday, April 7, 2010

Royal Bank of Scotland Appoints John Cummins, Jon Linton, Emma Phillips, Keith Chui and Majella Gallagher

Royal Bank of Scotland has appointed John Cummins as co-head of markets for Australia and Jon Linton as head of fixed income currencies and commodities trading for Australia.

Cummins will manage 60 staff and act alongside Graeme Pratt, his counterpart for equities in Australia.

The bank also appointed Emma Phillips as its head of corporate risk solutions, as well as Keith Chui as director of AUD/NZD delta rates trading.

Majella Gallagher has been appointed as senior foreign exchange salesperson in banks corporate risk solutions unit. -AAP Newsfeed


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Monday, April 5, 2010

Federal Reserve Bank of Atlanta Appoints Cyntha Goodwin, Promotes Brian Bowling and Steve Wise

The Federal Reserve Bank of Atlanta has announced several organizational changes and two promotions in its supervision and regulation division.

Cynthia Goodwin, vice president, will take responsibility for a new risk management and analysis group within the supervision and regulation division.

Brian Bowling and Steve Wise have been named vice presidents in the division.


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HSBC Appoints Zhang Zhi Ming, Qu Hongbin and Frederic Neumann

HSBC has announced that it has enhanced its global research team on April 1, with the new appointments expected to help meet growing demand of investors for guidance on Asia’s role in the global economy.

The company announced that it has named Zhang Zhi Ming as head of China research, based in Hong Kong.

Zhang will be responsible for research on the mainland across various asset classes.

The company also appointed Qu Hongbin and Frederic Neumann as managing directors and co-heads of Asian economic research.

Qu would continue to be chief economist for Greater China.


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Friday, March 26, 2010

BNP Paribas Appoints Fred Zorzi, Rob Whichello, Marc Falconer and Katherine Dior

BNP Paribas has appointed Fred Zorzi and Rob Whichello as joint heads of global syndicate within the global debt syndicate platform.

Global syndicate encompasses all investment grade, emerging market, high yield, retail and medium-term note, or MTN, issuance.

Zorsi and Whichello will be based in London with New York, Tokyo, Hong Kong, Zurich and Brussels serving as the other global hubs for the syndicate platform. They will both continue to report to Martin Egan, global head of primary markets, origination and secularization.

Marc Falconer has also been appointed global head of MTNs, based in London, and Katherine Dior, based in Brussels, has been appointed head of the international retail bond syndicate.

Both Falconer and Dior will report to Zorzi and Whichello.


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Monday, March 22, 2010

HSBC Appoints Jane Wang

HSBC hired former Nomura Holdings executive Jane Wang to bolster investment banking.

Wang, 42, will become China chairman for corporate finance in a newly created position and start in early April. She will report to Liu Che-Ning, 44, the head of global corporate and investment banking in Hong Kong and China.


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Mutual of Omaha Bank Promotes Dwayne Sieck

Dwayne Sieck has been promoted to executive vice president and director of real estate finance at Mutual of Omaha Bank. He will be based at the bank’s loan production office in Des Moines.

Sieck joined Mutual of Omaha Bank in April 2008 as senior vice president of commercial real estate lending. He was previously the investment director for Principal Life Insurance in Des Moines.


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Tuesday, March 9, 2010

Federal Reserve Bank of Philadelphia Promotes James M. Nason

The Federal Reserve Bank of Philadelphia has promoted James M. Nason to vice president and economist.

Nason joined the bank’s research department in November as a senior economic adviser and economist. -The Philadelphia Inquirer


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Thursday, February 25, 2010

CIBC Appoints Charles St-Germain

Canadian Imperial Bank of CommerceCanadian Imperial Bank of Commerce announced that it has named Charles St-Germain as managing director and head of corporate credit products for Quebec.

St-Germain will also head the new corporate lending office in Montreal, focusing on providing capital to growth-oriented Quebec-based businesses. He will report to Jean Raymond, vice-chairman and head of wholesale banking for Quebec, and Laura Dottori-Attanasio, managing director and global head, corporate credit products. -Canada News Wire


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Wednesday, February 24, 2010

Royal Bank of Scotland Group Appoints Jim Lee and Eric Hiller

Royal Bank of Scotland Group announced that it has appointed Jim Lee as head of futures strategy and Eric Hiller as head of US rates derivatives strategy.

Mr. Lee will be based in Stamford, CT and Mr. Hiller will be based in Chicago. Both will report to John Richards, head of strategy for global banking and markets in the Americas.

Mr. Lee joins from Cantor Fitzgerald, where he held the role of partner, managing director and co-head liquid markets group from 2008 to 2009. Prior to that, he was a managing director, global head of futures strategy with RBS Greenwich Capital from 2004 to 2008. From 1996 to 2004 he was at UBS where he was a director and was responsible for US futures strategy.

Mr. Hiller joined RBS in 2008 after nearly a decade as the chief derivatives strategist at Bank of America. After a year as global head of futures strategy, he handed the reins to Mr. Lee and returned to derivatives. He started his financial career at a mortgage derivative hedge fund in the late nineties where he built term-structure and option-pricing models for mortgage related products. -Business Wire


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Tuesday, February 23, 2010

Private National Mortgage Acceptance, PNMAC Capital Management and PennyMac Mortgage Investment Trust Appoint Vandad Fartaj

Private National Mortgage Acceptance announced that Vandad Fartaj has been appointed as chief capital markets officer of the company and its PNMAC Capital Management.

Mr. Fartaj has also been appointed as chief investment officer of PennyMac Mortgage Investment Trust, where he will be responsible for all capital markets activities, including asset valuation, trading, hedging and research.

Mr. Fartaj has substantial experience in mortgage banking, including whole loan trading and managing interest rate and credit risk. He has served as managing director, capital markets at PNMAC and PCM since April 2008. Prior to joining PNMAC, from November 1999 to April 2008, he held a number of positions at Countrywide Securities. -SEC Form 8k


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