Morgan Stanley has started a second round of job cuts, with around 70 people laid off within its European investment bank, including 10 managing directors.
BNP Paribas has hired Evan Riley as head of US equity capital markets as the French bank builds its presence in the country. He was previously a managing director at UBS.
Morgan Stanley dealmaker Michael Maag is joining Alantra as chief executive of its Swiss operations, while Rothschild banker Martin Gamperl has been hired as a managing director within its Zurich investment bank.
Lazard's new chief executive, Peter Orszag, said it needs to "aim higher" as he prepares to shake up the strategy of the independent investment bank after its first leadership change in 14 years. Orszag replaces Ken Jacobs, who has been at the helm of the independent investment bank for the duration.
Scott McDavid is set to join Barclays as global head of equities from Morgan Stanley. Based in New York, he will join the UK lender in September and replaces Paul Leech and Todd Sandoz, who departed in February. Ronnie Wexler has also joined as global head of equities distribution.
Nej D'jelal, who has been heading up UBS's Neo electronic trading platform for more than two years, is joining the London Stock Exchange Group as group head of its Workspace platform.
Anne Boden is to step down as chief executive of Starling, the challenger bank she founded in 2014, in June. She will remain on the board as a non-executive director.
Tom Blomfield, the co-founder of challenger bank Monzo and payments firm GoCardless, has moved to San Francisco to join Y Combinator, the technology venture capital firm, as a partner. In a 24 May interview with Bloomberg, he said: “That sort of belief that you can achieve anything I think is very, very powerful and intoxicating, and doesn’t exist as much in London.”
Allianz Global Investors has hired Giles Money from sustainable investor Sarasin & Partners, as it prepares to launch a dedicated global sustainability equities team. Money, who joins as chief investment officer of the new division in August 2023, managed several funds at Sarasin, including its £388.9m Responsible Global Equity fund. He previously ran ESG strategies at Schroders and F&C Asset Management.
DWS announced Claire Peel is leaving as chief financial officer, after five years in the role. Peel will exit towards the end of the third quarter. The asset manager said it will begin the process to replace Peel in the coming weeks and will look at internal and external candidates.
Fidelity International has appointed its first head of stewardship in Europe. Emilie Goodall takes up the newly created role and will lead Fidelity’s engagement with companies in the region on ESG issues and manage its proxy voting in Emea and the Americas. She joined the asset manager in 2022 as a director of sustainable investing and impact and is based in London.
Wellington Management has slashed 5% of its employees, as asset managers follow large investment banks with workforce reductions.
The US investment manager, which is headquartered in Boston and oversees $1.4tn in assets, cut 170 roles this week, people familiar with the matter told Financial News.
A spokesperson said the cuts are part of a firmwide review, which has led to a 5% reduction to its 3,400 global headcount.
London Stock Exchange Group chief financial officer Anna Manz is stepping down to take on another CFO role outside of the finance sector. She will continue as LSEG’s CFO until May 2024, working through her 12-month notice period. The exchange said the search for Manz’s replacement is underway.
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