Standard Life promotes investment chief
British insurer Standard Life has promoted its investments chief to CEO of the group. London-based Keith Skeoch, currently chief executive of Standard Life Investments, will succeed David Nish as group CEO when he steps down on August 5.
Skeoch will continue in his current investment role “until a transition is effected,” the firm said in an announcement on June 19. A spokeswoman added that there was no hiring process currently underway for the investment position, and no fixed timetable.
In 2014 Standard Life boosted its presence in the investment industry with the purchase of UK asset manager Ignis for £390 million ($611.6 million). Earlier this year Standard Life Investments' Asia head told AsianInvestor that the firm was looking for strategic partners in the region for product development and distribution.
Skeoch was appointed CEO of Standard Life Investments in 2004 after joining as chief investment officer in 1999. He has been on the board of Standard Life since 2006.
From 1980 to 1999, Skeoch worked at securities firm James Capel (HSBC Securities from 1996) where his roles included managing director of international equities and chief economist. Skeoch started his career in 1979 at Britain’s Government Economic Service.
Nish was appointed chief executive in January 2010, after joining Standard Life in November 2006 as group finance director.
Natixis recruits Asia chief economist
Natixis has hired Alicia Garcia-Herrero as its new Asia-Pacific chief economist. Hong Kong-based Garcia-Herrero joined Natixis Corporate & Investment Banking on June 16 and will be leading the firm’s economic research for Asia Pacific. She reports to Paris-based Christophe Ricetti, head of global markets research, and locally to Serge Ekué, Asia-Pacific head of global markets.
Garcia-Herrero was previously chief economist for emerging markets at Spanish bank BBVA, where she worked between December 2007 and June 2015 in Madrid and Hong Kong, according to her LinkedIn profile. Prior to that, Garcia-Herrero was a senior economist at the Bank for International Settlements in its Hong Kong office between August 2006 and December 2007. She has also worked at various universities in Europe and in the 1990s was an economist at the International Monetary Fund and Spanish bank Santander.
Garcia-Herrero replaces Luca Silipo, who was Asia-Pacific chief economist at Natixis from January 2008 until May 2015. He has moved to Europe, splitting his time between Berlin and Paris, to be vice-president and chief research officer at supply chain operator Geodis, according to his LinkedIn profile.
JP Morgan appoints custody chief
US bank JP Morgan has appointed Teresa Heitsenrether as its new global head of custody and fund services. New York-based Heitsenrether will report to James Kenny, head of investor services.
Heitsenrether, who has been global head of prime brokerage for the past three years and has worked at JP Morgan since 1987, replaces Nick Rudenstine. In an internal memo seen by AsianInvestor, Kenny told staff on June 19 that Rudenstine was leaving his position “to explore new opportunities within the firm”.
Jason Sippel will replace Heitsenrether to become global head of prime services, which includes JP Morgan’s prime brokerage and equity financing, agency clearing and collateral management businesses. Currently based in New York, Sippel will relocate to London for the new position.
Sippel has worked at JP Morgan since 2005, with his positions including head of equity derivatives for Japan. Prior to JP Morgan, Sippel worked at Gen Re Securities (2000-2002), Overstock.com (2000) and Credit Suisse First Boston (1997-2000), according to his LinkedIn profile.
JP Morgan did not respond to queries as to when the appointments will become effective.
SocGen names new India head
French bank Société Générale has appointed Evelyne Collin as its new India chief executive and country officer. Mumbai-based Collin reports to Pascal Lambert, group country head for Singapore and head of corporate and investment banking for Southeast Asia. Collin assumed the position on March 9 but SocGen only announced the appointment on June 25.
Collin joined SocGen corporate and investment banking (SGCIB) in 1986 in Hamburg. Her most recent role was as deputy head of corporate commodity and trade finance in Paris. Prior to that, Collin was deputy head of structured commodity and mining financing within SGCIB’s natural resource group from 2008 to 2011, and global head of trade finance within SGCIB’s natural resource group from 2003 to 2008.
A SocGen spokesman said that there was no direct successor to Collin’s previous position as deputy head of corporate commodity and trade finance, with the portfolio having been divided amongst her former team.
Collin replaces Marc-Emmanuel Vives, who left SocGen in September 2014 after being the bank’s head of India for two years. Vives joined Mauritius-based CIEL Finance as chief executive in September 2014, according to his LinkedIn profile.
JLL appoints Asia corporate finance head
Property services firm JLL has appointed Chris Key as Asia-Pacific head of corporate finance. Sydney-based Key started in his new position at JLL on May 11 and reports to Stuart Crow, JLL’s Asia-Pacific head of capital markets.
JLL’s corporate finance platform operates across the region with teams in Sydney, Singapore, Hong Kong and Tokyo providing advisory services including real estate M&A, joint venture structuring, equity origination, secondary trading and strategic corporate advisory.
Key was previously JLL’s Australia head of corporate finance and joined the firm in February 2013. He will retain his responsibility for Australia, but a spokeswoman said he would look to “add additional senior resources”.
Key was previously managing director at Macquarie Capital Advisers from 2005-2011. Prior to that he worked at Goldman Sachs in its investment banking group as associate director (2004-2005). Prior to that Key worked at AMP Capital (2001-2003) as an analyst and asset manager.
ITG make senior sales hire
Agency broker and technology provider ITG has hired Nick Bousfield as head of Asia-Pacific sales for trading analytics. Hong Kong-based Bousfield joined ITG on June 8 and reports to Erin Stanton, regional head of analytics.
In the newly-created role, Bousfield will lead business development initiatives for the trade cost analytics business across emerging Asian markets, with client groups including pension funds and hedge funds, and as part of ITG’s expansion of its analytics product range to asset classes such as foreign exchange.
Bousfield was previously head of financial sector sales at Integra-IT and HazelTree between January 2014 and April 2015, and worked at Business Monitor International from July 2012-November 2013, both of which were Hong Kong-based positions. Prior to that Bousfield held positions at firms including BCA Research, Raphaels Private Bank, and HiFX.
Other people news reported by AsianInvestor over the past week: