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People
&Markets
^ Paul Hollingsworth^
has been appointed
UK economist for BNP
PARIBAS’ corporate
and institutional
banking unit.
Hollingsworth
previously served as
senior UK economist at
Capital Economics and
will report to Luigi
Speranza, head of
European economics.
^ PEMBERTON, the
asset management
group backed by Legal
and General, appointed
Antoine Josserand as
head of business
development. Josserand
previously worked at
Citigroup, where he was
head of international
fund distribution for
EMEA. Josserand will join
Pemberton as a partner.^ Tan Teck Longhas^
been appointed chief
risk officer at
Singapore’s DBS
GROUP. He replaces
Elbert Pattijn, who is
retiring from the bank
after 10 years in the
job. Tan joined DBS as
a trainee officer in its
corporate banking
department in 1993
and was most recentlyhead of the
institutional banking
group’s large and mid-
cap businesses as well
as its chief operating
officer. He reports to
CEO Piyush Gupta in
his new role.^ Foster Lee, a former
loans banker who had
joined a property
developer last year, is
back in the industry
with Hong Kong-based
FORTUNE FOUNTAIN
CAPITAL. Lee is
responsible for raising
financing for FFC and
for managing a
mezzanine fund that is
being set up. Lee spentfive years with China
Minsheng Banking
Corp, including as
head of syndicated
finance. Before that he
worked at DBS Bank in
Hong Kong and GE
Capital in Sydney and
Hong Kong.JP Morgan prepares dozens
for Brexit relocations
JP MORGAN has asked “several dozen”
EMPLOYEESûTOûLEADûAûlRSTûWAVEûOFûRELOCATIONSû
from Britain to continental Europe by early
2019, kicking off plans to protect its
business post-Brexit, a memo to staff
showed.
)NûITSûlRSTû"REXIT
RELATEDûMASSû
communication to its 16,000-strong
workforce in the UK this year, JP Morgan
highlights the organisational and strategic
challenges facing global banks as they
prepare for Britain’s European Union exit.Thursday’s email also outlined JP Morgan’s
plans to beef up its presence in other EU cities
including Paris, Madrid and Milan. Until now,
it was expected to focus on expanding its
Frankfurt, Luxembourg and Dublin bases,
where it already holds banking licences.
The staff who have committed to leave
Britain before “Brexit Day” on March 29,
2019 primarily work in client-facing or risk
management roles in both the investment
bank and asset management divisions.
Sinead CruiseNomura cuts 50 in London
Japan’s Nomura is set to cut
about 50 jobs in London as it
streamlines its global markets
business in Europe, Middle East
and Africa, people familiar with
the matter said.
4HEûAFFECTEDûFRONTûOFlCEû
staff have been put “at risk”
ASû.OMURAûRElNESûITSû
platform and brings its sales
and trading teams closer
TOGETHER ûANDûALSOûREmECTSûTHEû
slower trading environment,
the people said.
Bloomberg earlier reported the
cuts and said the affected staff
include some of Nomura’s most
senior traders in London,
including Omar Ghalloudi, who
joined Nomura from Citigroup
last year, and Steven Marshall,
who is head of credit valuation
adjustment trading.
Steve SlaterCS picks Dabbs for prime
CREDIT SUISSE named John Dabbs as
global head of prime brokerage
where he will oversee capital
services, client services, and
consulting as well as global
prime derivatives services.
Dabbs will report to global head
of prime services, Paul Galietto.
Promotions are coming in quick
succession for Dabbs who was
NAMEDûHEADûOFûPRIMEûlNANCINGû
sales for the Americas in April,taking responsibility for prime
brokerage, swaps and futures in
addition to his role as global head
of prime derivatives services.
His new expanded role
includes overseeing the EMEA
capital services, consulting and
capital intro teams.
Separately, David Morris was
named head of stock loan trading
in the Americas.
Philip ScipioCiti hires Furtado in Asia, trio in US
CITIGROUP has lured Udhay Furtado away from
'OLDMANû3ACHSûTOûRUNûITSû!SIA
0ACIlCûEQUITYû
capital markets group.
Furtado was with Goldman for just over
10 years and less than a year ago he was
named as co-head of its investment banking
division in south-east Asia, alongside Harry
Naysmith.
Furtado led the south-east Asia ECM business
from 2009 out of Singapore, before transferring
to a coverage role in 2013.
Furtado will be based in Hong Kong and is
due to start in October, reporting to Ashu
Khullar, Citi’s head of capital markets
origination for APAC.
Joining Citi is something of a
homecoming. Furtado was previously with
Salomon Brothers and Citi from 1997-2004,
before joining Deutsche Bank and then
Goldman.
Citi has also made three senior hires in the US.
Scott Sartorius has joined to help run its North
!MERICAûLEVERAGEDûlNANCEûGROUPû
Sartorius joins from Deutsche Bank, where
HEûWASûCO
HEADûOFû53ûLEVERAGEDûlNANCEû(EûWASû
part of a wider exodus at Deutsche as the bankattempts to restructure its US investment
banking business. At Citi he will be a senior
LEVERAGEDûlNANCEûORIGINATOR
In trading, Citi tapped Sean Hodgson as head of
US government bond trading, reporting to Geoff
Weber, head of North America G10 linear rates
trading. Hodgson returns to Citi after several
years working in the hedge fund industry.
Sam Berberian was hired to oversee high-yield
trading, reporting to Vikram Prasad, who
recently took over as Citi’s global head of credit
trading. Berberian joined from Goldman.
Philip Scipio