Former Barclays bankers led by Omar Selim are setting up an asset-management firm focusing on quantitative strategies to find socially responsible investments.
Bloomberg News reports that Arabesque Asset Management will start in July with two equity funds, said Selim, 49, who left London-based Barclays at the end of May, having held positions including head of global markets for institutional clients for Europe, the Middle East and Africa and chairman of Germany.
Quant funds seek to outperform competitors that track indexes by using mathematical algorithms and computers to find investments.
Bloomberg also reports that Christopher Cecere, who Japanese regulators accused of trying to manipulate interest rates when he worked at Citigroup, has resigned from hedge-fund firm Brevan Howard Asset Management LLP.
Cecere, an American who worked in Brevan Howard’s Geneva office, stepped down last week for 'personal reasons', said Max Hilton, a spokesman for the London-based firm at Peregrine Communications. Cecere worked for Citigroup in Tokyo as head of Group of 10 trading and sales for Asia before leaving in 2010.
Bamber, the former head of investment-grade corporate bond origination and private placements, will lead the bank’s combined loan capital markets and corporate bond origination departments.
Bloomberg also reports that Standard Chartered, which derived more than 60% of 2012 revenue from the Asia-Pacific region, moved its global head of metals trading to Hong Kong from London and plans to build up its presence there.
Jeremy East, who’s traded in the U.K. capital for about three decades, moved this month, and he will expand the metals desk in Hong Kong to be half the size of the London team in two years from about a quarter at present, according to an interview. The bank may expand into gold storage in Hong Kong and its unit started physical-metals trade in Shanghai this month, East said.
Based in Singapore, Beniwal will also continue as head of technology, media and telecoms for Asia, a role he has held since 2009.
UBS Creates New Role: Investment-Banking Head for Southeast Asia (subscriber content)