House - Issue 73
Welcome...
Welcome to the 73rd edition of House.
As the year draws to an end, regulatory hiring has continued at an increasingly productive rate, both within APAC, and abroad.
Investment banks have announced a number of key senior appointments, with Credit Suisse promoting Rafael Lopez Lorenzo to their Chief Compliance Officer in Zurich, while BBVA appointed John Juul as their Head of Compliance for the U.S., based out of New York.
In Hong Kong, EFG Bank appointed Leesa Youl as a Compliance SVP, OCBC appointed Josephine Yim as their Team Head of Regulatory Affairs & General Compliance Advisory, while UBS elected Connie Hui and Haselin Zein as their Head of Compliance & Operational Risk Control (HK) and APAC Head of Global Markets Compliance & Operational Risk, respectively.
Similarly on the buy-side, Prudential appointed Karen Tsang as a Senior Manager of Group Compliance, Harvest Global Investments brought in Silver Shen as a Senior Legal Counsel, while BlackRock hired Tsering Lama as a Director of Advisory Compliance, who made his way to Hong Kong by way of New York City, where he was last Compliance Director at Hudson Advisors.
Leading corporates and FinTechs within the APAC region have also demonstrated an increasing appetite for senior regulatory leadership, as seen by Amazon’s internal appointment of David Vignola as their Chief Compliance Officer for Amazon payments, as well as Uber and Google’s promotions of June Yuan and Clinton Yau, to Senior Counsel and Senior Compliance Officer (Devices & Services), respectively.
Meanwhile, leading cryptocurrency platforms made a number of senior hires, shortly after SEC chief Gary Gensler publicly highlighted the importance of bringing the digital-asset space under strict regulatory oversight, in order to secure its longevity. As such, Robinhood’s crypto-unit announced the appointment of Benjamin Melnicki as their new Chief Compliance Officer, while Binance continued their hiring spree with the recruitment of Zane Wong as their Director of KYC Compliance.
We are curious to see how China’s recent decision to ban all cryptocurrency transactions impacts hiring within the region.
However, despite an incredibly active hiring market within financial services, the consulting space have stood out over recent months, as they appear to be significantly expanding their regulatory arsenals.
The Consulting Boom
Throughout 2021 consulting firms have been steadily expanding their presence, as the world begins to grow more accustomed to a significantly diverse and complex array of regulatory risks.
Earlier this year in Hong Kong, KPMG appointed Raju Mehtani as their Head of Compliance, while Kroll, Duff & Phelps, and EY internally promoted Bessie Lucas, Man To, and Janice Bok to Senior Manager of Risk & Compliance, Regulatory Consulting VP, and Manager & Registered Foreign Lawyer, respectively.
More recently, FTI appointed Neha Parmar as their Senior Director of Financial Crime Compliance, while internally promoting Samuel Pong to Director as part of their Risk Advisory and Investigations practice.
Meanwhile in Singapore, consulting firms made a number of senior hires, with Kroll appointing David Klopp and Geralt Owen as Managing Directors within their Cyber Risk Teams, and FTI and PwC respectively appointing Mason Drew and Tam Huynh as Managing Directors, covering cybersecurity.
This unmistaken hiring trend has made its way to the U.S and U.K, with KPMG appointing Daria Anderson as a Financial Services Regulatory Risk Manager in New York, while in London, EY appointed Deborah Bucknell as a Senior Manager covering Private Equity Independence & Compliance, along with Sophia Theresa Anyaegbuna as a Senior Consultant within Insurance Risk & Regulatory Affairs.
With increasing regulatory consciousness, particularly into emerging matters such as ESG, cybersecurity, crypto and AML/CFT, organisations have been incentivised to seek out specialised skill sets, to temporarily reconsolidate their in-house compliance capabilities.
We continue to see an increasing demand within consultancies, with the likes of Bovill actively seeking candidates with backgrounds in capital markets, investment management and regulation. We're confident that opportunities within this space will continue in abundance for the foreseeable future, and encourage our subscribers to reach out to us at anytime to discuss the market.
Central Banks Stateside
Rapidly evolving regulatory attitudes in the United States since the election of the Biden Administration, have prompted a major overhaul of talent within federal institutions and central banks.
In a recently conducted interview with CNBC, Gary Gensler alluded to the lack of senior staff within the SEC, and the subsequent impact of navigating through the multiple challenges brought on by the pandemic.
In order to rectify the lack of regulatory leadership, the SEC have responded with a series of senior appointments, to address the wide range of issues across the financial spectrum.
Most prominently, Dan Berkovitz was announced as their new General Counsel, effective November 1st, following a decorated period at the Commodities Futures Trading Commission, where he worked closely with Gensler between 2009-2013, who as at the time their Chairman.
Furthermore, Eathen Gums joined as Special Counsel within the Office of Structured Finance, while Shezad Niazi was promoted to Senior Special Council as part of the Office of the SEC’s Chief Accountant.
Likewise, Eric Celauro was promoted to Senior Regulatory Council within the Office of Clearance & Settlement, while Geeta Dhingra was appointed Senior Special Council within the Division of Trading & Markets.
Correspondingly, FINRA made a number of senior appointments, with the announcements of Shaded Saleh as Associate Principle Communications Compliance Analyst within their Advertising Regulation Department, Ryan Murphy as their Principal Council, and Thomas Kimbrell as their Associate General Council.
The flurry of senior appointments can be explained by the turbulent financial and geopolitical ecosystem inherited by the current administration.
Gensler ascended to Chief of the SEC at a time where the U.S. were engaged in an active trade war with China, digital assets had surpassed almost all regulatory exceptions, the market saw the rise of underwritten IPO’s and SPACs, while novice investors engaged in “meme stocks” and caused mayhem over Reddit.
Needless to say, with increasing financial and geopolitical volatility, senior regulatory & compliance professionals are likely to remain in high demand. We expect widespread hiring to continue for the rest of the year, and encourage our subscribers to reach out to discuss the market, or any opportunities that may interest them.
Movers Continued.
EMEA
Deloitte appointed Neil Kapusi as a Financial Crime Consultant, from Accelerant Holding’s where he served as Interim Group Head of Compliance. He will continue to be based in London.
EY appointed James Jones to Senior Manager in their Compliance Risk Team. He moves from BDO UK LLP and will be based in Birmingham.
PwC appointed Nana Veniou as a Senior Manager in their Advisory team. She joins from the London Stock Exchange, and will continue to be based in London.
EY appointed Deborah Bucknell as a Senior Manager within their Private Equity teams covering Independence & Compliance. She will continue to be based out of London.
EY have appointed Sophia Theresa Anyaegbuna as a Senior Consultant covering Insurance Risk & Regulatory affairs. She joins from Parasol and will be based out of London.
BitPay appointed Ivars Zukovskis as a Director of Compliance, from bitFlyer Group, based out of Luxembourg.
Zeidler Group appointed Valentin Chantereau as a Director & Head of Legal for Paris, from Nomura, based in Paris.
British Arab Commercial Bank (BACB) internally promoted Ramita Dhillon to Head of Compliance, based in London.
Fresenius Medical Care appointed Anne-Christine Wegener as a Local Compliance Officer, from Commerzbank AG, based in Frankfurt.
Allianz Technology internally promoted Lucia Bujar to their Compliance & Data Privacy Officer, based in Zurich.
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Movers
Global
The Securities and Exchange Commission (SEC) appointed Dan Berkovitz as their General Counsel, from the Commodity Futures Trading Commission, based in Washington D.C.
Robinhood Crypto appointed Benjamin Melnicki as their Chief Compliance Officer, from Grayscale Investments, in New York City.
Revolut appointed Darrin McLaughlin as their Global Head of Financial Crimes Risk Management, from Capital One, in New York.
Credit Suisse internally promoted Rafael Lopez Lorenzo to Chief Compliance Officer, based in Zurich.
APAC
UBS appointed Connie Hui as their Head of Compliance & Operational Risk Control for HK, from EFG Bank, based in Hong Kong.
EFG Bank appointed Leesa Youl as a Senior Vice President, from Credit Suisse, based in Hong Kong.
OCBC appointed Josephine Yim as their Team Head of Regulatory Affairs & General Compliance Advisory, from HSBC based in Hong Kong.
Google internally promoted Clinton Yau to Senior Compliance Manager, Devices & Services, in Hong Kong.
Uber internally promoted June Yuan to Senior Counsel, in Hong Kong.
Amazon internally promoted David Vignola to Chief Compliance Officer, Amazon Payments, based in Singapore.
Binance appointed Zane Wong as their Director of KYC Compliance, from Goldman Sachs, based in Singapore.
PwC appointed Kenny Chow as a Manager handling Risk and Regulatory Transformation. He joins from Standard Chartered, and will be based in Singapore.
FTI Consulting appointed Neha Parmar as a Senior Director, Financial Crime Compliance, from KPMG China in Hong Kong.
Kroll internally promoted Bessie Lucas to Senior Manager, Compliance Risk & Diligence, based in their Hong Kong offices.
FTI Consulting internally promoted Samuel Pong to Director, as part of their Risk Advisory & Investigations practice. He will continue to be based in Hong Kong.
EY internally promoted Janice Bok as a Manager & Registered Foreign Lawyer. She will be based out of Hong Kong.
Duff & Phelps internally promoted Man To as a Vice President. He will continue to be based out of Hong Kong.
Sequoia Capital China appointed Tiffany Chak as a Compliance Officer, from Goldman Sachs, based in Hong Kong.
The Bank of East Asia appointed Seth Chung as their Risk & Compliance Manager, Securities Services Department, from TNG FinTech Group, based in Hong Kong.
Marriott International appointed Tania Pavaskar as a Senior Director of Legal Compliance, from MENARINI Group, based in Singapore.
Altive appointed Ginny Ma as their Head of Compliance, from Zhongrong International Trust Company, based in Hong Kong.
Altive appointed Dickson Ho as a Compliance Officer, from TF International Securities, based in Hong Kong.
UBS appointed Haslim Zein as their APAC Head of Global Markets Compliance & Operational Risk Controls, from Citi, based in Hong Kong.
Prudential appointed Karen Tsang as Senior Manager, Group Compliance, from AXA, based in Hong Kong.
Otis Elevator Co. appointed Mekhla Basu as a Senior Director, Head of Ethics & Legal Compliance, from Splunk, based in Singapore.
AMERICAS
The Securities and Exchange Commission (SEC) internally promoted Eric Celauro to Senior Regulatory Counsel, Division of Examinations, Office of Clearance and Settlement, based in Washington D.C.
The SEC internally promoted Geeta Dhingra to Senior Special Counsel, Division of Trading & Markets, in Washington D.C.
The SEC appointed Eathen Gums IV, Special Counsel (Detailee) - Office of Structured Finance, in Washington D.C.
The SEC internally promoted Shehzad Niazi to Senior Special Counsel, Office of Chief Accountant, in Washington D.C.
KPMG hired Daria Anderson as a Manager Financial Services Regulatory & Compliance Risk, from the National Association of Black Accountants.
EY appointed Addison Johnson as their SDC Regulatory Compliance Analyst. He joins from Wells Fargo, and will be based in Jacksonville, Florida.
Commonwealth Financial Network appointed Alexander W. Hansen, as a SVP, RIA Compliance, from Dynasty Financial Partners, based out of Waltham, Massachusetts.
Eiger BioPharmaceuticals appointed Erik Atkisson, as their General Counsel, Corporate Secretary & Chief Compliance Officer, from Cytokinetics, based out of Alameda, California.
Cox Communications appointed Amber Hall, as a Vice President, Chief Compliance & Privacy Officer, from Wells Fargo, based out of Atlanta.
Analog Devices appointed Janene Asgeirsson, as a Senior Vice President, Chief Legal Officer & Corporate Secretary, from Acacia Communication, based out of Wilmington, MA.
Revolut appointed Darrin McLaughlin as their Global Head of Financial Crimes Risk Management, from Capital One, based out of New York.
LPL Financial LLC appointed Matthew Morningstar as their Executive Vice President, Compliance, Legal & Risk, from Morgan Stanley, baed in New York.
Rice University appointed Chetna Koshy as their Chief Compliance Officer, from New York University Abu Dhabi, based out of Houston.
Vivint appointed Daniel Garen as their Chief Ethics & Compliance Officer, from DLA Piper, baed out of Provo, Utah.
AUS/NZ
National Australia (NAB) appointed Paul Jevtovic as their Chief Financial Crime Risk Officer and Global MLRO. He joins from HSBC in Hong Kong, and will be based in Melbourne.
Toyota Finance Australia internally promoted Amanda Kandilis to Senior Corporate Counsel, based in Willoughby, New South Wales.
Uber appointed Jane Petrolo as a Legal Counsel, from the British American Tobacco Company, based in Hunters Hill, New South Wales.
QBE Insurance appointed Jacob Daly as a Legal Counsel. He joins from Holman Webb Lawyers, and will continue to be based in Sydney.
Envato appointed Darcy O'Brien as a Legal Counsel, from MinterElison, based in Melbourne.