Global Custodian Clearing and Settlement Issue 2018 | Page 7

[ P E O P L E
O N
T H E
M O V E
|
N E W S
R O U N D - U P ]
PEOPLE ON THE MOVE
Through a partnership with CLS and LCH
SwapAgent, its post-trade service for non-
cleared derivatives, will automate swaps
payments, including initial and final notional
exchange solutions though CLS, and varia-
tion margin payments with SwapAgent.
˜ ˜ Capula Investment Management has
become the first asset manager to pro-
vide collateral for cleared repo through the
DTCC’s fixed income clearing house, as it
looks to boost liquidity in the market via
new participants.
Through the Sponsored DVP Repo Service,
operated by the Fixed Income Clearing
Corporation (FICC), the DTCC aims to bring
the buy-side into providing collateral and
liquidity to the repo market which has
traditionally been represented by banks and
broker-dealers.
˜ ˜ LCH has gone live with a new account
structure allowing buy-side clients to post
collateral directly with the clearing house,
and has secured Aviva Investors as its first
client.
Through its new CustodialSeg account,
asset managers would retain beneficial title
to the collateral, and will be segregated at
an international central securities deposito-
ry (ICSD).
˜ ˜ The central securities depository (CSD) of
the Czech Republic, CSD Prague, has opened
a direct settlement account with Euroclear
Bank.
The link with Euroclear will allow CSD
Prague to offer a wider range of services,
such as corporate actions, and have access
to many additional foreign markets.
˜ ˜ The European Commission (EC) has
backed new powers for the European Cen-
tral Bank (ECB) to have greater oversight
of the euro clearing industry, a key topic of
Brexit negotiations.
˜ ˜ Euroclear’s global head of collateral
management, Olivier Grimonpont, was
appointed chief executive of its joint venture
company, DTCC-Euroclear GlobalCollateral.
Grimonpont assumed his new role from the
beginning of 2018, replacing Michael Ship-
ton who retired at the end of last year.
˜ ˜ Goldman Sachs’ long-time head of se-
curities lending, Martin Cosgrove, has left
the bank. His departure follows his recent
resignation from the board of Equilend at
the beginning of February. Cosgrove served
almost 20 years at Goldman Sachs in vari-
ous equities and securities finance roles
˜ ˜ Societe Generale has promoted John
O’Hara as head of prime brokerage and
clearing business for the Americas.
O’Hara will oversee all of Societe Gener-
ale’s US prime brokerage business li nes,
futures and OTC derivatives clearing, while
also retaining his prior responsibilities as
global head of foreign exchange prime
brokerage and FX clearing.
˜ ˜ R.J. O’Brien has poached the London
Metal Exchange’s (LME) head of financial
markets sales to grow its electronic sales,
clearing and voice execution business.
Elena Patimova has been tasked with
raising the profile of the futures broker’s
execution and clearing business across Eu-
rope, the Middle East and Africa (EMEA).
˜ ˜ BNP Paribas’ head of international
prime services, Matthew Pinnock, is set to
depart, sparking a leadership reshuffle for
the business.
Kieron Smith, the bank’s current global
head of derivatives execution and clearing,
has become deputy head of prime services
& financing.
Meanwhile Raphael Masgnaux is now
the sole head of G10 rates and prime ser-
vices & financing (PS&F).
˜ ˜ Citi has expanded the responsibilities
of its APAC head of OTC clearing to include
Europe, in the latest appointment to its
global derivatives team.
TJ Treadwell will assume the extend-
ed remit of OTC product head in EMEA,
and will be relocating from Singapore to
London.
˜ ˜ BNY Mellon’s former chief financial
officer was appointed CEO of its newly
established clearing, markets and client
management business amid a major
restructure of the entire business.
Thomas Gibbons will oversee several
product lines as part of the role including
Pershing, Markets, Government Securities
Services Corp, treasury services, as well as
commercial payments, credit services and
regional management.
˜ ˜ One of Morgan Stanley’s senior Europe-
an listed derivatives salespeople departed
for a role at Citigroup.
Jason Massey joined Citi as EMEA head
of sales for futures, clearing and collateral
(FCC), having worked at Morgan Stanley
for more than seven years.
˜ ˜ The International Swaps and Deriva-
tives Association (ISDA) has elected Dan
Maguire to its board of directors, expand-
ing its representation from the clearing
industry.
Maguire currently serves as the chief ex-
ecutive for LCH Group, the world’s largest
OTC clearing house.
˜ ˜ The chief executive officer at EuroCCP
is to step down from her position after 10
years to become a senior advisor for the
clearing house.
A note to clients revealed Diana Chan
will remain CEO until 1 July 2018 and she
will then advise the chairman of the super-
visory board at EuroCCP.
Summer 2018
globalcustodian.com
7