Trading Places: Saxo Bank Gets New Director, Banking Shuffle Continues

Catch up on the latest executive moves from around the financial services industry.

Monday, September 5

Stig Tørnes, Saxo Bank

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Stig Tørnes
Stig Tørnes

Last week, Saxo Bank named Stig Tørnes as its newest Executive Director, helping complete a spectrum of changes the company has announced over the past 18 months. Mr. Tørnes had been working with Danske Bank since 2007, and has over 20 years of experience in the industry. Before 2007, he served as First Vice President and head of Business Development in Realkredit Danmark, part of Danske Bank Group.

Arjun Singh-Muchelle
Arjun Singh-Muchelle

Arjun Singh-Muchelle, ICAP

ICAP plc, a markets operator and provider of post trade risk mitigation and information services, secured the appointment of Arjun Singh-Muchelle as Global Head of Regulatory Affairs of its Global Broking division (IGBB). Based in London, he will report to Don McClumpha, COO of IGBB and CEO of i-Swap. The latest appointment follows the recent addition of Nicole Shumpert into the role of Head of BrokerTec Direct, ICAP’s electronic fixed income and foreign exchange (FX) business, as reported by Finance Magnates last month.

Tuesday, September 6

James Dewdney, CFH Clearing

James Dewdney
James Dewdney

CFH Clearing selected James Dewdney as its newest Institutional Sales Manager – the London-headquartered company said Mr. Dewdney will be focused on further developing the global sales of its rapidly growing prime of prime brokerage, as well as technology sales and client acquisition. Earlier in his career, James joined the institutional FX agency desk at Market Securities, a part of Kyte Broking, where his role expanded into e-FX, regional banks, sell side firms and CTA hedge funds.

Ryan Lemand
Ryan Lemand

Ryan Lemand and Marcelo Vasques, ADS Securities

ADS Securities last week made two senior promotions to its executive team, with Ryan Lemand being elevated to the role of Head of Asset Management & Wealth Management, and Marcelo Vasques being named as the group’s Head of Global Markets – Abu Dhabi. Mr. Lemand originally joined ADS Securities back in September 2015 as its Head of Managed Solutions & Business Development, Asset Management. Alternatively, Marcelo Vasques had been with ADS Securities for approximately one year. He originally joined the group as its Head of Credit Trading, whilst being based out of Abu Dhabi.

Eduard Poltavsky, GAIN GTX

Eduard Poltavsky
Eduard Poltavsky

GTX, the institutional foreign exchange trading arm of GAIN Capital Holdings, last week announced today that it hired Eduard Poltavsky as Director, e-FX Sales. Poltavsky specialises in Russian ruble and other Eastern European currency pairs. He is based in London and will be reporting to John Miesner, Managing Director and Global Head of Sales.

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Wednesday, September 7

Matthew Smith, Gold-i

Gold-i, a trading systems integration specialist for the financial services industry, tapped Matthew Smith as Global Head of Support and promoted its mainstay Chris James, who steps into the role of Product Development Manager. In addition to his new role, Chris joined the company’s management team and will report directly to CEO Tom Higgins. He will be tasked with supervising the company’s team of 15 developers and QA analysts.

Tim O’Hara, Credit Suisse

Credit Suisse’s Global Credit unit has been in a state of flux in 2016, having already been shuffled earlier this year in a consolidation move to help restore the lender to profitability after multiple disappointing earnings releases. Its latest facelift will involve the replacement of Tim O’Hara as the Head of Global Markets by Credit Suisse’s Brian Chin.

Sydney Ifergan
Sydney Ifergan

Sydney Ifergan, GKOption

The Chief Executive Officer (CEO) of GKOption, Sydney Ifergan, resigned from his position at the binary options brokerage. The subsidiary which is wholly owned by Turkish brokerage GKFX, has been a brand owned by British Virgin Islands Financial Services Commission (FSC) regulated firm GKFX Investment Group Limited. Sydney Ifergan had been heading the company for about a year, since October 2015. Before joining the firm he led marketing efforts at a number of key firms in the binary options and forex industry including Stock.com, Interactive Option and iOption.

Thursday, September 8

Waqas Samad, LSE

Waqas Samad
Waqas Samad

London Stock Exchange Group (LSEG) last week appointed Waqas Samad as CEO of Fixed Income & Multi-Asset Benchmarks for the Group’s Information Services division. In the newly created role, Samad will lead FTSE Russell’s continued global growth into indexes measuring fixed income and other multi-asset classes, with responsibility for building a global team to support this growth.

Mark Leung and Jason Sippel, JPMorgan

JPMorgan Chase & Co revamped its equities division, appointing Mark Leung and Jason Sippel as Global Co-Heads of Equities, which follows on the heels of the recent departure of Tim Throsby earlier this week, according to a Reuters report. The move was necessitated by Throsby’s exit, which saw him part ways with JPMorgan for Barclays. Mr. Throsby had joined JPMorgan in 2010, focusing on its equities business. In his place, the lender has opted to go with two individuals to replace him.

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