People: Citi lures JPM private bank CRO, Körner crowns Credit Suisse exits, and more

Chris Mushell has been appointed wealth chief risk officer at Citi, effective May 28, according to an internal memo seen by Risk.net. The role, which had already been identified as part of Citi’s restructuring effort, reports to CRO Zdenek Turek and is based in New York.

Mushell joins Citi from JP Morgan, where he was most recently CRO of the US private bank and had previously served as CRO of its Latin America private bank and global head of credit capital markets. Before joining JP Morgan, he was a senior managing director at Bear Stearns and senior vice-president at Moody’s Investors Service.

A further flurry of changes is underway at UBS, as the legalities of its merger with Credit Suisse are finalised. Ulrich Körner, who was chief executive of Credit Suisse at the time of the merger, is set to leave in the coming weeks. Körner has spent much of his career in senior roles at both banks. He joined Credit Suisse in 1998, then left his role as CEO of its Swiss operations in 2009 to become chief operating officer at UBS. He returned to CS in 2021 and had planned to leave immediately after the takeover announcement – as the CEO role became obsolete – but was persuaded to stay until after the merger, the Financial Times reports.

Dixit Joshi, who was chief financial officer at Credit Suisse at the time of the merger, has joined the board of hedge fund Man Group as a non-executive director. He had rejoined the Swiss bank in October 2022 from Deutsche Bank, where he held a wide range of senior roles, including group treasurer. He joined Deutsche in 2010 after a seven-year stint at Barclays, where he was head of equities for Europe, the Middle East and Africa (Emea). Joshi spent the previous eight years at Credit Suisse, including as head of international index arbitrage, according to his LinkedIn profile. He also served on the board of the International Swaps and Derivatives Association for both Barclays and Deutsche, respectively.

Marinela Tudoran, chief information officer at the Credit Suisse investment bank, is set to depart after almost 30 years. During her tenure, she headed the development of the bank’s electronic trading platforms and oversaw teams across the US, Europe, and Asia. She co-founded the Credit Suisse IT women’s council, one of the first women’s employee networks at the bank.

Eric Schaanning has joined Nordea as head of risk and valuation risk management. With the UBS rescue last year, Credit Suisse alum Schaanning became head of banking book risk management for the combined deposit and loan books of the two lenders. At CS, he was head of treasury and of asset and liability management risk management for Emea.

Dan Monckton, former Emea head of programme and electronic trading at Credit Suisse, has joined Cantor Fitzgerald as co-head of Emea electronic execution services. Prior to the move, Monckton spent two decades in a range of programme trading-related senior roles at the Swiss lender.

Jeffery Mortara has left UBS for Societe Generale, where he becomes global co-head of equity capital markets. He spent eight years at the Swiss bank, most recently as global co-head of equity capital markets, overseeing teams across the US, Europe and Asia.

Truist, the bank resulting from the 2019 merger of BB&T and SunTrust banks, has reshuffled its leadership team following the departure of two top executives last month. Scott Case, the bank’s chief information officer, has left the role to pursue new opportunities, while Denise DeMaio, chief audit officer since 2022, has decided to retire. Brad Bender, who had been head of enterprise operational services, has been appointed interim CIO, while the lender is looking for a permanent successor to Case. Grant Harbrecht, formerly Truist’s chief compliance officer, was named chief audit officer and Ed Noonan has been promoted to succeed Harbrecht.

Suzanne Morgan has been named chief compliance officer at Wells Fargo. She succeeds Paula Dominick, who passed away last month. Morgan joined the bank in 2020, initially serving as a corporate risk control executive before assuming the role of deputy chief compliance officer. Prior to Wells Fargo, she worked at JP Morgan for over two decades, most recently as chief compliance officer for capital consumer operations.

Barclays has appointed Isabelle Millat as head of sustainable finance for global markets and Barclays Europe. She joins from Societe Generale, where she held several senior positions, most recently as head of sustainability for global markets. She also joins the Barclays Europe executive committee and the sustainable finance management team and is based in Paris.

David Wright has been named head of foreign exchange trading and distribution at MUFG, based in Tokyo, His appointment comes after three years with the lender as global head of e-FX in London.

Joe Wald, co-head of electronic trading at BMO Capital Markets, has left the bank, he has announced on LinkedIn. He joined BMO in 2020, following the bank’s acquisition of Clearpool Group, a New York-based electronic trading solutions provider and an agency broker-dealer, for which he served as chief executive for six years.

Victoria Hegan has joined Deutsche Bank as head of investment solutions and commodities distribution for its Americas Institutional client group, based in New York, according to her LinkedIn profile. She joins from Goldman Sachs, where she worked for 13 years, most recently as a managing director overseeing equity derivatives and cross-asset systematic trading strategies.

Shani Unantenne has been appointed head of funds at NatWest. In this newly created role, Unantenne will lead and implement the bank’s strategy for the funds sector within its commercial and institutional franchise. Prior to joining, she served as head of funds for Europe at ANZ Banking Group for more than eight years.

Mark Steele has joined challenger bank OakNorth as CRO, just as the Softbank-backed UK lender is seeking to move into transaction banking, while expanding its US business. He joins from Simplyhealth, where he spent more than three years as CRO. Steele takes over from James Cashmore who had been with the bank since its inception in 2015.

Royal London Asset Management has restructured its global equity team following the resignation of its head of equities Peter Rutter and other members of the team, who are believed to have set up their own company.

Piers Hillier, the company’s chief investment officer, takes on responsibility for its global equity capabilities. He will be supported by Matt Burgess who continues as head of quant strategies, Richard Marwood, co-head of UK equities, Mike Fox, head of sustainable investments, and fund managers Bixuan Xu and George Crowdy.

Frank Benhamou has joined CheyneCapital as portfolio manager to lead a $2 billion synthetic risk transfer strategy, as the alternative investment firm announced in April its decision to re-enter the SRT market after six years. Prior to joining Cheyne, Benhamou spent 17 years at Barclays, where he set up and led the bank’s Colonnade programme, one of the largest SRT platforms globally.

Ted Kaouk, chief data officer and director of the data division at the Commodity Futures Trading Commission, will assume additional responsibilities as the agency’s first chief artificial intelligence officer. Under the newly expanded role, he will lead the CFTC’s efforts to further integrate AI into its operations.

Prior to joining the CFTC in December 2023, Kaouk served as chief data officer and responsible official for AI at the Office of Personnel Management, where he oversaw development of the agency’s first federal government-wide human capital data strategy and data products. He previously served as CDO at the US Department of Agriculture, leading the development of the agency’s first enterprise data analytics and AI platform.

Dan Burke has joined MarketAxess as global head of emerging markets. He joins from Standard Chartered, where he was global head of electronic and algo trading. He previously held several senior credit trading roles at Deutsche Bank in Singapore and Bank of America Merrill Lynch in Tokyo and Hong Kong.

Allen Zimmerman has joined SimCorp as managing director and head of Americas. He joins from BlackRock, where he had served as a managing director focusing on business development for the firm’s investment management technology offering since 2015. He previously held several senior roles within the portfolio analytics and quantitative models businesses at Barclays and Citi. 

Editing by Louise Marshall