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- Credit Suisse is shaking up its asset management leadership amid the fallout from the bank’s involvement in the Greensill Capital scandal, the firm announced. Eric Varvel, head of Credit Suisse’s asset management business, will be replaced by Ulrich Körner, previously the president of UBS Asset Management. Varvel will remain in his roles as chairman of investment banking and capital markets at Credit Suisse and CEO of the bank’s US holding company.
- Goldman Sachs has poached top equities trader Mitchell Story from Bank of America. Story, a managing director who had been at BofA for two years and helped lead the bank’s index-volatility derivatives desk, is joining Goldman as a senior derivatives trader, Insider reported. Volume in equity-derivatives trading reached its highest level in a decade last year as pandemic-related swings in markets produced a boon in trading revenues at major banks in 2020.
- HSBC saw the departure of Gerry Mato, the lender’s chair of global banking and markets for the Americas, according to an internal company memo viewed by Insider that was sent by Greg Guyett, HSBC’s co-CEO for global banking and markets. Mato was integrally involved in developing HSBC’s banking services in Latin America, the memo said, adding that he is leaving to “pursue other endeavors.”
- Wells Fargo announced this week that Reetika Grewal has been appointed the bank’s head of digital for commercial banking and corporate and investment banking. Grewal will join the company in late April and report to Ather Williams III, Wells’ head of strategy, digital, and innovation, the firm said in a press release. Grewal comes to Wells from JPMorgan Chase, where she had served as head of digital for its commercial banking arm. She will be based in San Francisco.
- Visa has named Michelle Gethers-Clark as chief diversity officer and head of corporate responsibility, according to a press release. Gethers-Clark will join Visa’s executive committee and report directly to chairman and CEO Al Kelly. She is president and CEO of non-profit United Way of Greater Greensboro, and previously spent more than 20 years at American Express. She will join Visa in May and work from the company’s San Francisco office.
- Colin Kennedy, former global head of partnerships at Stripe, joined corporate card fintech Ramp as chief business officer, Fortune reported. Prior to Stripe, Kennedy was chief revenue and operating officer for Goldman Sachs’ Marcus.
- Steve Allocca is joining BlueVine as the fintech’s new COO, as reported exclusively by Insider. Alloca left LendingClub in May 2020, where he served as president. He previously led PayPal’s business credit business and consumer lending at Wells Fargo.
- Chad Buresh, a senior vice president for alternative fund finance at bond giant Pimco, has left the firm to join hedge fund H.I.G. Capital as of January, according to Hedge Fund Alert. Buresh joined Miami-based H.I.G., which has $43 billion in AUM, as chief finance officer for credit-product investments. Prior to working at Pimco, Buresh also worked at PwC.
- MUFG has added to its private equity sponsor and direct lending banking business with the hiring of three senior bankers. Based in Atlanta, Michael Klein joined MUFG from Regions Bank, while Keith Murray joined the firm in New York from RBC Capital Markets. They will be both managing directors of sponsor coverage within the Corporate Advisory Group at MUFG. John Timoney joined the Capital Markets Group of MUFG from Antares Capital and will be a managing director working on direct lending transactions.
- Robinhood has hired its first-ever chief product officer to oversee product, design, and research at the online brokerage. Aparna Chennapragad will join Robinhood from Google, where she spent the last 12 years and was most recently vice president of consumer shopping and also led augmented reality and visual search product teams.
- Celsius, a cryptocurrency rewards-earning lender and fintech service based out of the UK, announced in a press release this week that it has hired Rodney Sunada-Wong as the company’s chief risk officer. Sunada-Wong comes from Morgan Stanley, where he served as chief risk officer for the US broker-dealer and US and Mexico derivatives swap dealers.
- Celsius also announced in a press release that it has hired Vijay Konduru to be its chief marketing officer and head of analytics. Konduru was most recently the chief marketing officer at the neo-bank Tend. He is a veteran of financial institutions like Citigroup, where he served as head of strategy and analytics for digital and brand from 2014 to 2017, and held various roles including head of US card product marketing and head of social media and emerging channels at Capital One from 2004 to 2013.
Reed Alexander, Shannen Balogh, Dan DeFrancesco, Meredith Mazzilli, Alex Morrell, and Bradley Saacks contributed reporting.
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