People moves: Soc Gen, JP, RBS make changes

By Jenita Gandhi | 24 April 2019

Former RBS exec Caroline Rainbird named FSCS CEO

UK’s Financial Services Compensation Scheme (FSCS) has appointed Caroline Rainbird as its new CEO, effective of May 4. Rainbird brings with her over 30 years of experience, including senior positions at RBS between 2009 and 2017.

Commenting on the transition, FSCS chairman Marshall Bailey told Cover Magazine: "It is a testament to the standing and reputation of FSCS that we have been able to attract a world class leader like Caroline. Her array of financial services experience, understanding of the regulatory landscape and passion for the consumer meant she was the obvious candidate. Her industry pedigree will particularly help our work on tackling the causes of compensation and improving fairness for all consumers."

Stonehage Fleming appoints new CFO

London-based wealth management company Stonehage Fleming has appointed Becton Davis to the newly created role of chief financial officer (CFO), effective April 16. Previously he served as CFO for seven years at Close Brothers Asset Management.

Commenting on his appointment, Davis stated in a press release: “It gives me great pleasure to take on this role at such an exciting time in Stonehage Fleming’s journey. I am looking forward to working with my new colleagues to help the Group achieve its financial and strategic objectives.”

Société Générale names Demetrio Salorio as new UK head of global finance

France-based bank Société Générale will be replacing current UK head of global finance Alvaro Huete with Demetrio Salorio, from May 15. Based in London, Salorio will be reporting to Huete and Sadia Ricke, UK chief country officer. In this new role, Salorio’s responsibilities will include overseeing the bank’s UK global finance division, which includes asset finance, capital markets, natural resources and infrastructure, syndication and structured finance. He will be moving from his previous role as the bank’s global head of debt capital markets, which he has held since 2010.

deVere appoints Richard Glenn to newly created group CFO role

UK-based independent financial consultancy deVere has appointed Richard Glenn as the CFO with immediate effect. Glenn will focus on the advisory side of the company’s business model and will be reporting to Nigel Green and the board of directors. Prior to deVere, Glenn had held the CFO post at UAE-based wealth manager Credence International for more than three years.

Commenting on the appointment, deVere CEO Nigel Green told Director of Finance: “The creation of this CFO position represents a natural and positive evolution of executive responsibilities at deVere as we continually grow, develop and adapt to new market conditions and regulatory landscapes. We continue to implement our strategic growth plans and will include further major acquisitions, senior level recruitment, and the roll-out of new and subsidiary brands. This will serve to further cement our dominant status within the international space.”

Jes Staley to take over as head of Barclays Bank

London-based Barclays Bank has appointed Jes stanley as its new chief executive, the company announced on 27 March 2019. Stanley will replace Tim Throsby who has been in charge at the bank for two years.

Commenting upon his appointment, Jes stanley told Proactiveinvestors: "Competing in the top tier of global corporate and investment banking, enabled by our size, and commitment across asset classes, is important for Barclays' future returns. And we demonstrably do compete in that top tier. Notwithstanding that competitive position, I believe we need a more granular execution focus on the businesses within the CIB if we are to drive those returns, in a reasonable timeframe, towards and above that cost of capital.”

JP confirms Jennifer Piepszak appointed as CFO; Marianne Lake named CEO of Consumer Lending

JPMorgan has announced that current CEO of card services Jennifer Piepszak will take over as company CFO as well as a member of its operating committee, effective May 1. Piepszak will succeed Marianne Lake, who will serve as the CEO of Consumer Lending.

CEO of the firm, Jamie Dimon said in a press release: “Jennifer Piepszak is an enormously talented executive who has greatly strengthened the world-class Card Services business we have today. “Even more importantly, she is a first-class leader and partner who has excelled over the past 25 years in increasingly critical business and finance roles across our Corporate and Investment Bank and Consumer & Community Banking businesses.”

Mariner Investment Group appoints chairman and CEO

Mariner Investment Group announced that it has named Curtis Arledge its chairman and CEO. Arledge will also take over the role of head of ORIX USA asset management. He joins from BNY Mellon Investment Management where he served as CEO.

Bill Michaelcheck, the firm’s chief investment officer, stated in a press release: “Curtis brings a level of global market knowledge and experience that will position Mariner for success as we continue to build out more comprehensive investment offerings across the firm. Mariner has been on a strong growth trajectory for a number of years, and we want to ensure that we are well-positioned to capitalise on new market opportunities and enhance our competitive edge in a rapidly evolving marketplace. Curtis brings familiarity with the Mariner organisation and is a highly regarded industry luminary with a proven ability to grow assets and develop new business lines. We are so pleased to welcome him back to Mariner, and I look forward to focusing my time and energy on the Mariner multi-strategy mandate, which I believe is well positioned to benefit from the market opportunities we see today.”

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