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PEOPLE ON THE MOVE
˜ ˜ HSBC has revealed a dual leadership
structure for its global securities services
business through two internal promotions.
Allegra Berman and Richard Godfrey will
become global co-heads of the HSBC Securi-
ties Services (HSS) business from 1 October.
˜ ˜ BNP Paribas Securities Services has con-
firmed that Deutsche Bank’s former head of
European securities services, Graham Ray,
will assume a newly-created position within
the company.
Ray, who left Deutsche Bank in June will
take on the role of global head of sales
and relationship management for financial
intermediaries.
˜ ˜ Roy Zimmerhansl has left his role as
global head of securities lending at HSBC
after over five years at the firm.
Zimmerhansl has been one of the leading
voices on securities lending in recent years
and was inducted into Global Custodian’s
Hall of Fame in 2013.
˜ ˜ BNY Mellon has brought on GC Legend
and industry veteran Emily Portney as head
of asset servicing for the Americas.
The appointment is one of the more sig-
nificant hires under BNY Mellon’s new chief
executive, Charles Scharf, as it attempts
to regain the top spot in the global custody
rankings.
˜ ˜ Northern Trust has promoted Dan
Houlihan to run its Americas asset servicing
business, with a focus on providing a full
front-to-back-office offering to buy-side
clients.
Houlihan will take on the newly-created
position where he will be responsible for all
front-, middle-, and back-office services to
asset owners and asset managers.
˜ ˜ Citi has hired a partner from Ernst and
Young (EY) in Hong Kong to lead its custody
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NEWS ROUND-UP
and fund services division in Asia Pacific.
Julie Kerr joins Citi with over 25 years of
experience, most recently as a partner in
the financial services, wealth and asset
management division at EY.
˜ ˜ Societe Generale has said its head of
Hong Kong, David Abitbol, will take over as
the new head of securities services from the
start of 2019.
Abitbol, the current CEO of Societe
Generale’s Hong Kong branch, and COO for
Asia Pacific, will replace long-serving, Bruno
Prigent, who is set to retire.
˜ ˜ Citi has promoted one of its most senior
rates traders to lead the North American
markets and securities services business.
Deirdre Dunn, who has headed the bank’s
group of 10 rates business in North America,
will also oversee the region’s markets and
securities services division.
˜ ˜ Deutsche Bank has promoted a trade fi-
nance and cash management veteran to run
its European securities services business.
James Cox has taken on the role, following
a 10-month stint as global chief operation
officer of securities services and global
transaction banking (GTB) EMEA.
˜ ˜ FinTech giant Broadridge Financial Solu-
˜ ˜ State Street has regained the position
as the world’s largest custodian by assets,
overtaking BNY Mellon which has held the
rank for three straight years.
The Boston-based custodian reported
record assets under custody of $33.8 trillion
in its second quarter earnings, up 9% year-
on-year and $200 billion more than its New
York rival.
˜ ˜ Northern Trust is exploring a way to hold
and secure digital assets and cryptocurren-
cies for its hedge fund clients.
The 129-year old Chicago-based global
custodian currently does not have a custody
services for digital assets, but it is some-
thing Northern Trust’s technology team
would be willing to develop.
˜ ˜ SS&C Technologies Holdings has agreed
to buy investment management software
solutions provider Eze Software for $1.45
billion in another major acquisition for the
technology giant.
The purchase continues the trend of back-
and middle-office service providers enhanc-
ing their front-office capabilities, following
the news that State Street will buy Charles
River Development for $2.6 billion.
˜ ˜ German asset manager First Private
tions has announced its current president,
Tim Gokey, will take the reins as chief
executive officer from 2 January 2019.
Gokey, who has served as president since
2017 and chief operating officer since 2012,
replaces Rich Daly who will be appointed
executive chairman of the board. Investment Management has opted for a
full front-to-back-office outsourcing model
with Societe Generale Securities Services
(SGSS).
Through SGSS’s German division, it will
provide front, middle and back-office servic-
es through its CrossWise service, as well as
analytics and reporting for First Private.
˜ ˜ JP Morgan has appointed a new head of ˜ ˜ German exchange group Deutsche
custody and fund services for Asia-Pacific.
John Murphy took on the new role, in addi-
tion to his current responsibilities as head
of custody for Asia and Japan, where he has
managed the product side of the business.
Boerse has purchased a minority stake
in HQLAx, a start-up which aims to bring
blockchain technology to the securities lend-
ing market.
The investment expands the partnership
Fall 2018
globalcustodian.com
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