The prime brokerage unit of Bank of America Merrill Lynch has hired former Morgan Stanley executive Deepak Abraham as head of capital strategy in Asia Pacific, according to an internal memo seen by Reuters.
The Financial Times reports that the head of Barclay prime broking business has left the bank to join Millennium, the $18bn hedge fun run by Israel 'Izzy' Englander, according to people familiar with the situation.
Ajay Nagpal is expected to join the hedge fund in July as Chief Operating Officer.
In the meantime, Goldman Sachs' senior physical metals trader Scott Evans has left the U.S. investment bank in New York, becoming the second high-profile member of the physical base metals team to depart since mid-March, sources told Reuters.
His exit comes almost three years after he was hired to set up the bank's physical base metals trading desk. The foray into physical trading was part of the bank's efforts to offset tighter regulation after being forced to close its proprietary metals derivatives operation.
Freeland will be a copper trader based in London and will join in April, said the people, who asked not to be identified because the information hasn’t been made public. He will be responsible for building up the company’s physical copper business in Europe, the Middle East and Africa. Freeland worked for Trafigura Beheer BV before joining Goldman.
And Reuters reports that JPMorgan Chase executive Norma Curio, who oversaw a group that managed stakes in troubled companies for the company's Chief Investment Office (CIO), is leaving the bank, according to a person familiar with the matter.
The news agency also reports that Travis Machen, who was named co-head of the North American bank group at Morgan Stanley in October, has left the firm, two sources familiar with the situation said on Tuesday.
And The Daily Telegraph reports that Royal Bank of Scotland is set to announce a shake-up of its top management, with Nathan Bostock lined up as the lender’s new finance chief.
Bruce van Saun, who has been RBS’s finance director since 2009, is expected to leave Britain to take over as head of Citizens, the bank’s American subsidiary which is being lined up for an £8bn IPO.
Finally, Reuters reports that Standard Chartered has hired Peter Burnett from UBS as its North East Asia head of corporate finance, beefing up its senior leadership with another high-profile regional veteran of the Swiss investment bank.
Barclays prime broker moves to hedge fund (subscriber content)