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The global head of capitalmarkets at German assetmanager DWS, Keshava Shastry, has left the business, according to two people with knowledge of the matter, The TRADE can reveal. Keshava Shastry Shastry, a managing director based in London, had been with the German firm for over ten years.
Digital Asset’s blockchain network Canton has completed a pilot involving a large group of major investment banks and assetmanagers demonstrating interoperability of independent distributed ledger applications (dApps) in the capitalmarkets domain.
The financial services industry—including assetmanagers—has had an interesting relationship with Silicon Valley. Assetmanagers should not assume that these tech giants will look past this industry. This is just what Alibaba, an Amazon-like tech firm in China, did when it entered the mutual fund business in that market.
Generative AI (gen AI) is predicted to impact over two-thirds of all functions across the capitalmarkets industry, suggesting that the technology has the potential to significantly transform all its segments—including assetmanagement. The majority of assetmanager have already started on this journey.
Joe Wald, BMO CapitalMarkets’ managing director and co-head of electronic trading left the bank, departing after four years in his most recent role, according to an update on his social media. Prior to founding Clearpool, Wald spent a year and a half at GAIN Capital as an executive vice president.
MetLife Investment Management (MIM) has reached a definitive agreement to acquire three investment teams and assetsmanaged by Mesirow, an independent financial services firm. Nearly $6 billion of assetsmanaged by the acquired team will transfer to MIM, under the terms of the transaction.
UBS appointed Carlos Salcedo head of capitalmarkets financing sales Americas, according to an internal memo seen by The TRADE. Before joining MEAG, Malakis held senior sales positions with international assetmanagers, including Generali Insurance, Vanguard International and Schroders.
James Hilton was appointed multi-assetmanaging director in RBC’s low touch team, joining from Credit Suisse, where he had been serving as head of sales for EMEA for the bank’s advanced execution sales (AES) team. Balyasny AssetManagement appointed Harrison Chesterton as associate director within its equity finance trading division.
Alex Livingstone, formerly head of trading for ETFs and FX at Titan AssetManagement, joined Titan Investment Solutions as a junior portfolio manager and trader. He will also be involved in the ongoing management of the Titan Hybrid Capital, Core Credit, and Short Duration IG income funds.
Ryan O’Connor left Goldman Sachs AssetManagement and is set to join ETF provider Global X ETFs as chief executive on 8 April. He most recently served as global head of ETF product, having initially joined Goldman Sachs AssetManagement back in 2017 to build out the US fund strategist model portfolio business.
Ryan O’Connor has left Goldman Sachs AssetManagement and is set to join ETF provider Global X ETFs as chief executive on 8 April. He most recently served as global head of ETF product, having initially joined Goldman Sachs AssetManagement back in 2017 to build out the US fund strategist model portfolio business.
The service also supports key regulatory initiatives including EMIR, CSDR and the Securities Financing Transactions Regulation (SFTR), with the aim to help promote transparency, market integrity and the competitiveness of European capitalmarkets. “We
I was there through 2015, then Bank of America, before I joined Conversant Capital in early 2021. He envisioned Conversant as a platform to capitalise on real estate opportunities across the liquidity spectrum in both public and private and up and down the capital structure including equity and credit. What does your role involve?
Some 83% of assetmanagers plan to change product strategy in the next two years, a new survey from Northern Trust has found, emphasising the need to cater to diverse investor needs. Technology appears to be at the heart of that change, with 77% planning to leverage new tech within the same timeframe.
One other point was that there should be a recommendation, but not a regulatory requirement, to transition the mutual fund subscription and redemption settlement cycle to T+2 from the common T+3/4 in the UK and other popular EEA fund jurisdictions to coincide with the UK, EU and Swiss transition to T+1 in capitalmarkets.
SIFMA and its assetmanagement arm have published an open letter expressing concerns about the SEC’s proposal to redefine what constitutes an exchange and expand Regulation ATS, stating that it is not appropriately tailored to existing systems.
The deal will further bolster FIS’ capitalmarkets technology offering, having acquired SunGard in a major deal back in 2015. trillion assetmanager Franklin Templeton outsourcing its entire global transfer agency (TA) operations to FinTech FIS.
Assetmanagers are turning to third party vendor relationships as a means of reducing costs, a report from Northern Trust and Coalition Greenwich has found. Around 37% of the 151 assetmanagers surveyed by Northern Trust confirmed plans to renegotiate fees with vendors to reduce costs and increase efficiencies.
Louis de Kock is set to depart J O Hambro CapitalManagement in the coming weeks, with Adam Simmons taking over as head of trading, as revealed by The TRADE. Assetmanager Ninety One promoted from within for its new deputy global head of trading and head of trading for South Africa. He will report to Blatch.
But what does the persistent evolution of AI mean for capitalmarkets specifically? Speaking to The TRADE, Timothee Consigny, chief technology officer at H2O AssetManagement, asserts that there is a definite place for artificial intelligence within capitalmarkets and the time for adoption is now. “[Gen-AI]
According to the cyber crime study, an assetmanagement firm could spend more than $17 million per year on charges relating to managing and recovering from incidents. For more on cyber resiliency, read our InsideOps: Cybersecurity for AssetManagers: Shielding Your Firm from Risks. Cost of Cyber Crime Study.
BNY Mellon made two key senior managing director hires into its fixed income and equity sales and trading businesses. Gould joined BNY Mellon after three years at RBC CapitalMarkets where she previously served as co-head of equities electronic sales and trading.
Following his departure he is set to join Barclays Capital. Prior to his time at SSGA, Corbyn held settlement-related roles at Credit Suisse, Citigroup, and Barclays Capital. Previously in his career, Paparella ran the institutional structured products Latin America desk for RBC CapitalMarkets.
RBC BlueBay AssetManagement equity trader, Michael Tamou, left the assetmanager to join Qube Research & Technologies (QRT). He originally joined the assetmanager as an investment operations analyst in 2020. Throughout his career Jenkins has also worked at SWIFT, Macgregor, and AXA Investment Managers.
Liquidnet brings knowledge and experience in capitalmarkets to the Partnership and will play a crucial role in shaping and informing Plato’s initiatives within capitalmarkets, the organisation said.
Northern Trust promoted Dane Fannin as its new head of global foreign exchange (GFX)and securities finance within its capitalmarkets business. Pictet AssetManagement appointed Jade Beckmann as an equity trader. Prior to that, she held the role of financial products equity specialist at the firm.
The acquisition was completed earlier this month, with operations acquired set to be rebranded as Marex Prime Services and Market Outsourced Trading, with both becoming part of the Marex CapitalMarkets business (formed last year following the acquisition of ED&F Man CapitalMarkets). He will report to Blatch.
RBC CapitalMarkets appointed Giles Gleave and Mike Heraty as its newest managing directors, according to an internal memo seen by The TRADE. He has been appointed senior trader at Norges Bank Investment Management, based in New York.
David Kirk is set to join Millennium, following almost three and a half years at Marble Bar AssetManagement where he most recently served as a trader, The TRADE understands. Kirk joins the capitalmanagement firm with experience working as a trader on both the buy- and sell-side.
Race for Europe’s first ‘real-time’ stock trade tape heats up By Huw Jones LONDON (Reuters) – Banks and assetmanagers are vying with Europe’s exchanges to develop technology that can deepen the pool of investors in the continent’s capitalmarkets and better compete with Wall Street.
BNY Mellon has today announced the integration of Global Markets Trading (GMT), which will combine the firm’s capabilities in foreign exchange, fixed income, equities and capitalmarkets to provide full-service client provisions.
This time being the internal promotion from Northern Trust for its new head of global foreign exchange within its capitalmarkets business. Fannin took up the role after spending the last 17 years at Northern Trust within its capitalmarkets business in Asia Pacific and London, most recently as its global head of securities finance.
Deutsche Bank has re-entered the local DCM in South Korea as it expands its investment banking capabilities in the region in a bid to support its local clients in accessing global debt capitalmarkets. It also provides assetmanagement services to its South Korean clients through Deutsche Bank subsidiary, DWS.
Justin Llewellyn-Jones, head of capitalmarkets, North America (equities, FX and derivatives) and chief product officer for capitalmarkets at fintech firm Broadridge announced his departure after more than four years with the business. He began his career as a fixed income support analyst at JP Morgan.
What is the future outlook for AI use across capitalmarkets? This year the market will see more generative AI use-cases go from pilots to production. Throughout 2023, we saw generative AI experimentation across the capitalmarkets ecosystem. How is the industry adjusting to the increasing prevalence of the cloud?
As part of the expansion, FIS has extended its FIS’ Cleared Derivatives (CD) platform – historically used by clearing members – to buy-side firms including hedge funds, assetmanagers and insurance companies, allowing them to access trading venues and clearing houses directly, which can help reduce counterparty risk and free up capital.
Previously in his career, he also spent almost a decade at the assetmanager in an equity trading role until 2006 and later spent nearly four years at SEB. LSEG has reshuffled its capitalmarkets top brass significantly in recent years in a bid to simplify its leadership across its expanding asset class remit.
Leasing Services Merchant banks provide leasing services to companies in the form of capital goods, vehicles and office equipment. Example of Merchant Banking In 2021, merchant bank Avendus Capital helped the Indian company Piramal Enterprises acquire the debt-ridden assets of Dewan Housing Finance Corporation (DHFL) for ₹34,250 crore ($4.4
Read more: LedgerEdge closes three years after launch “As many of you know, Brian is a proven multi-asset trader and trading technologist with valuable assetmanagement and capitalmarkets experience,” said Stephen Berte, president at BIDS Trading, in a social media post.
During his time with the assetmanager Taitz was responsible for Invesco’s fixed income trading desks in the US, UK and Hong Kong. Prior to joining Invesco in 2016, Taitz spent two and a half years at RBC CapitalMarkets in a fixed income role and 10 and a half years at UBS Investment Bank as an executive vice president.
Atkins joined Redburn Atlantic in 2004 as a sales trader having previously served for eight years at Morgan Grenfell and two years at Marathon AssetManagement. The global head of capitalmarkets at German assetmanager DWS, Keshava Shastry, has left the business, according to two people with knowledge of the matter.
Investor appetite for such investments is rapidly increasing, as banks, assetmanagers and large corporates all seek ways to invest in sustainability. While issuing green bonds on DLT may not be the only way, it is at present probably one of the most promising and practical mechanisms to drive capital towards green initiatives.
Not only could it help manage cost pressures, it could also help reduce errors, improve compliance, and simplify overall business complexity. The post Three Ways Institutional Investors Could Increase RPA Success appeared first on Accenture CapitalMarkets Blog.
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