Post on 24-May-2020
Snapshot of notable global financial
services CFO moves, appointments,
themes and trends
“Increasing
examples of senior
finance leaders
making a move
out of the tier one
banking groups.”
January 2016 - April 2016
Growing appetite from
non-banking financial
services firms to
significantly upgrade their
audit functions with a
focus on improved
business partnering,
regulatory interface and
data analytics
Significant activity in the
Audit COO space as
large banking groups look
to streamline global
methodology, improve
training & development
and drive overall
efficiency savings after
five years of cross industry
investment
Increasing examples of
senior finance leaders
making a move out of
the tier one banking
groups given the
increasingly challenging
regulatory environment
and the role of the CFO
in it
US banks investing heavily
in global FP&A functions
in a continued response
to CCAR and augmented
reporting requirements
Leathwaite: London | Zürich | Hong Kong | New York
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CFO Themes
Page 1/5
Next update due: 19/9/2016
Summary of key themes and trends Jan - Apr 2016
Leathwaite: London | Zürich | Hong Kong | New York
Twitter @L3athwaite www.leathwaite.com
UK market:
Insurance
Helen Pickford is appointed UK Life CFO at
Zurich. Helen replaces Neil Evans who joins
Aviva as the Head of Financial Reporting for the
life business.
David Foster joins Pioneer Underwriters, the
underwriting group within Minova Insurance
Holding, as CFO. David was previously the
Deputy Corporate Controller at XL Catlin.
Alberto Minalo, CFO at Generali, is promoted to
General Manager.
Steve Jules joins Lloyd’s of London as Head of
Market Finance. Steve was previously a Director
in the insurance practice at PwC.
Banking
Francesca Hampton joins the Co-Operative
Group as Interim Finance Director. Francesca
was previously Director of Finance at MetroBank.
Carmen Herbstritt, Head of Regional Finance
Germany at Deutsche Bank is made CFO,
Switzerland, across all business lines.
Ekene Ezulike, CFO Infrastructure at Deutsche
Bank is made Chief Procurement Officer. His
previous role is being covered by Neil Smith.
Glynn Jones joins ANZ as the Head of Financial
Planning & Analysis for the markets business. He
was previously the CFO for Financial Markets at
Standard Chartered.
Paul Copson joins HSBC as the Global Head of
Product Control, replacing Richard Boyns who
moves internally.
Matthew Ristau joins State Street as Managing
Director, Accounting Policy Group, based in
New York. He was previously a Director in the
accounting policy and global valuations
oversight group at Deutsche Bank.
Ravi Vazirano, APAC CFO at Morgan Stanley,
has moved to become APAC COO, replacing
Arun Kohli who relocates to London as EMEA
COO. David Lui will become CFO APAC.
Alistair Webster becomes Head of Regulatory
Capital Policy & Oversight at JPMorgan. He was
previously the Head of Accounting Policy for the
corporate and investment bank globally.
Christopher Hill joins Hargreaves Lansdown as
CFO. Previously he served as CFO for IG Group
and Travelex.
Audit
Graham Mason joins Lombard Odier as Global
Head of Audit for the investment management
business. He was previously Regional Audit
Director at BlackRock and is replaced by
Rosanna Burr who moves into audit from the
business.
John Mitchell joins Standard Chartered as Head
of Audit, Finance having previously been with
Bank of America.
Charlie Wright is promoted to EMEA General
Auditor at Bank of America. He previously led
Key global people moves and appointments:
CFO Moves
Page 2/5
Next update due: 19/9/2016
Leathwaite: London | Zürich | Hong Kong | New York
Twitter @L3athwaite www.leathwaite.com
the regional team aligned to the banking and
markets business.
Valaria Locatelli joins Pioneer Investments as
Head of Internal Audit. Valeria was previously
Global Head of Audit for the wealth & asset
management business at HSBC.
Amanda Haines joins RBS as Audit Director,
Practices & Support. She was previously the
EMEA Audit COO at Morgan Stanley.
James Oates, Group Head of Internal Audit at
UBS is promoted to Group Head of Compliance.
He is replaced in the interim by Alan
Wehrenberg, currently UK Head of Compliance
& Operational Risk and Global Head of
Investment Banking Compliance & Operational
Risk.
Matt Burton joins Old Mutual as Head of Internal
Audit for the wealth business. He was previously
a Partner in the financial services internal audit
team at PwC.
Dean Barham joins Standard Chartered as COO,
Group Internal Audit. Dean previously held a
similar role at Lloyds Banking Group.
Paul Marshall joins EY as a Senior Advisor in the
internal audit and corporate governance
practice in London. He was previously the Chief
Auditor for franchise audit at Citi.
Karen Dignan joins Pension Insurance
Corporation as the Head of Internal Audit. Karen
was previously the Audit Director for wealth
management and group head office functions
at Old Mutual.
Ray Cockrem joins State Street as a senior vice
president in the EMEA audit team with
responsibility for supporting the asset servicing
business. He was previously Audit Director for the
asset management business at Old Mutual.
US market:
Anthony Sciarra moves to Enstar Group Ltd. as
the Global Head of Tax. He came from AIG as
Senior Tax Director, Head of Corporate Tax
Reporting & Analysis.
Mark Lubin moves to PwC as Banking and
Capital Markets Tax Director to focus on
planning and reporting complex restructurings,
M&A and other transactions involving US-based
global financial companies. He comes from BNY
Mellon where he was Managing Director - Head
of International Tax.
Sarah Youngwood moves internally to become
CFO of consumer and community banking,
succeeding David Owen at JPMorgan.
Youngwood was previously head of investor
relations. Owen was named Chief Administrative
Officer and oversees an office that supports the
company’s operations in 60 countries.
Jennifer Moss becomes the Managing Director,
Head of International Tax, at Blackrock. She
moves from Citi as Head of Domestic Tax
Planning and M&A Tax.
Thomas Jordan is the Director of Tax Accounting
and Compliance in the Americas for Credit
Suisse. He has come from Goldman Sachs as VP
- Tax Reporting Group.
Jack McGinnis is the Executive Vice President
and CFO at ManpowerGroup. He was the global
controller at Morgan Stanley.
Bill Shepherd moves from Bank of America
where he was CFO for Global Wealth &
investment Management to be Head of
CFO Moves
Page 3/5
Next update due: 19/9/2016
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Twitter @L3athwaite www.leathwaite.com
Corporate Finance at Bridgewater Associates,
LP.
Andrei Magasiner, at Bank of America, is
appointed Group Treasurer. He was previously
CFO for Global Banking & Markets.
Johnbull Okpara joins Morgan Stanley as Global
Head of FP&A. He joined from Capital One
where he was Deputy Controller.
European market:
Fabrizio Petrillo, CFO of AXA Winterthur moves
internally and assumes the role of Head of
Property & Casualty. The new CFO will be an
internal candidate.
Gary Hughes takes over the role as CFO at
Equatex, a spin-off from UBS.
Marcelo Szerman takes over the responsibility as
CFO for Bank J. Safra Sarasin. He replaces
Thomas Mueller who leaves the bank.
Asian market:
David Liu was promoted to APAC CFO for
Morgan Stanley. He was previously APAC Head
of Financial Reporting. David succeeds Ravi
Vazirani, who progressed to become the APAC
Chief Operating Officer for Morgan Stanley.
Dagmar Maria Kamber Borens has left Singapore
where she was APAC CFO for UBS. Her
replacement is yet to be announced.
Amol Gupte is the new Singapore Country
Officer and Head of ASEAN for Citi. He took over
Michael Zink who is retiring. Amol was previously
APAC Head of Treasury and Trade Solutions.
Vishal Kapoor succeeds Amol as APAC Head of
Treasury and Trade Solution and was previously
APAC Head of Trade Sales.
Deborah Mur relocates to Singapore as Head of
Treasury Trade Solutions for Asia Industrials,
Energy & Power Sectors in Citi. She was
previously based in Paris as Western Europe
Head of Treasury & Trade Solutions.
CFO Moves
Page 4/5
Next update due: 19/9/2016
Leathwaite: London | Zürich | Hong Kong | New York
Twitter @L3athwaite www.leathwaite.com
Regulation: Increased
demand for interim resource
to assist with the
implementation of IFRS9,
CCAR and FRTB
Optimisation, consolidation
and cost reduction: Major re
-structuring of Finance at
many global banks as they
seek to improve processes,
control and infrastructure
through the review of
shared service structures,
location strategy and cost
allocation
Audit: specialist interim audit
resource is in demand,
either to help upskill audit
functions (in some cases
following regulatory
recommendations), or to
lead specific audit reviews
Key interim CFO themes and trends Jan - Apr 2016
How can
Leathwaite assist?
With a global network of offices that are
constantly communicating with the CFO
market, Leathwaite is perfectly
positioned to advise clients on the future
demand cycle for talent.
London: +44 207 151 5151
Zürich: +41 44 214 6640
Hong Kong: +852 3152 2463
New York: +1 646 461 9100
For a discussion on how the talent
landscape is changing within this sector,
please call your regional Leathwaite
office.
www.leathwaite.com
CFO Interim
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Next update due: 19/9/2016