Bank of America director Robert Scully won’t run for re-election at the annual meeting this spring, in the latest in a series of changes on the board.
In the meantime, Bloomberg reports that BNP Paribas’ head of debt capital markets for the Middle East and North Africa has left, according to a bank spokeswoman.
Simon Putt left in December and has yet to be replaced, although the firm continues to have a team to handle debt capital markets,
Bloomberg also reports that Goldman Sachs picked Raanan Agus to manage Liberty Harbor after the credit investment unit’s Chief Investment Officer Gregg Felton quit this week, ending a six-year tenure there.
The Financial Times reports that Citigroup has hired one of Europe’s best-known dealmakers as the US group seeks to add a string of top investment bankers even as it is sharply reducing junior staff.
Luigi de Vecchi, a former Credit Suisse and Goldman Sachs banker, has been appointed as chairman for corporate and investment banking in continental Europe.
And The Wall Street Journal reports that Morgan Stanley’s Hong Kong-based chief financial officer for Asia-Pacific, David Sutherland, is leaving the company, people familiar with the matter said last week.
Sutherland is being replaced by Anthony Mullineaux who has been with Morgan Stanley in Europe and Asia for 19 years. He will take the title of head of Asia-Pacific Finance – not CFO, one of the people said.
Bloomberg reports that Christian Dalban, who oversees a group of Nomura traders who use firm capital to make bets on markets, is poised to leave as the bank weighs closing the unit, said two people with knowledge of the matter.
Dalban, 48, is negotiating his departure after the bank cut traders within his Angel Lane Principal Strategies division and decided to review whether to continue the business, said the people, who asked not to be identified because terms of his exit haven’t been completed. Tokyo-based Nomura, Japan’s largest brokerage, cut more than 20 jobs in the trading unit in London,New York and Hong Kong last month, the people said.
Reuters reports that bond giant PIMCO has appointed managing director Marc Seidner as interim head of global equities after Neel Kashkari’s departure a week ago, said a person familiar with the situation.
Bloomberg reports that John Roncevich, the former head of Wells Fargo’s commodities business, has left the lender and formed a venture to advise banks on ways they can sidestep some of the new regulations affecting the industry.
Roncevich departed in November after ceding oversight of the business in July, Elise Wilkinson, a bank spokeswoman, said via e-mail today. Roncevich joined Wells Fargo through its 2008 purchase of Wachovia Corp. and ran the sales and trading of physical commodities and derivatives. Pekka Kauranen now heads commodities trading at the San Francisco-based firm.
Finally, Bloomberg reports that UBS cut 20 jobs at its Canadian investment-banking unit as part of cost cuts by the Zurich-based bank.
UBS fired Rick Meslin, head of Canadian equities, and Chief Economist and Strategist George Vasic as part of the cuts, said Karina Byrne, a spokeswoman. The firm cut 10 jobs in equity research and the rest in cash sales and trading. The banking unit had about 48 staff before the cuts, mostly in Toronto, she said.
Citigroup starts senior hiring amid cuts (subscriber content)
Morgan Stanley Asia-Pacific CFO Leaving Company – Sources (subscriber content)