Let’s make good the $2.3bn loss, UBS investment banking chief tells his staff. The head of investment banking arm at UBS has defended the division in the wake of the $2.3bn rogue-trading scandal and urged staff to repair the “financial damage”.
Lizzie Kershaw, executive group publishing director of Hearst’s Women’s Interest Group, is leaving the UK publisher in the midst of a restructure after 29 years service.
Karen Wall, assistant managing director of Metro, has been appointed to the new role of executive director of talent, culture, communication and marketing at sister regional group Northcliffe Media.
JP MORGAN ASSET MANAGEMENT
The unit of JP Morgan Chase & Co appointed Nima Tayebi to its emerging market debt and currency team. Tayebi was most recently a portfolio manager at Polar Capital Partners.
CITI PRIVATE BANK
The banking arm of Citigroup appointed Ida Liu, currently its managing director, as the head of its newly formed North America Asian clients group. The bank is looking to expand its coverage and services to include Asian ultra high net worth families, focusing first in New York, San Francisco and Los Angeles.
MAN GROUP PLC
The investment management firm named David Mercurio as the head of Asia equity and co-head of global equity strategies. Mercurio, who has 17 years of investment experience, previously worked as a senior portfolio manager at the Government of Singapore Investment Corp (GIC).
Man Group also promoted Pierre Lagrange to the role of chairman of Man Asia. Lagrange will also continue to manage global equity portfolios out of London for GLG, a wholly owned unit of Man Group.
The alternative investment firm hired Tatiana Segal as a managing director and head of risk management. She was formerly a managing director and chief risk officer at Cerberus Capital Management.
The global investment firm promoted Sergio Trezzi and Miguel Rona as co-heads of its retail business in continental Europe. Trezzi, who led the roll-out of the Invesco Powershares ETF brand in continental Europe, will oversee retail activities in Italy, Greece, Germany, Austria, Benelux and the Nordics. Rona, currently responsible for retail business in Spain, Portugal and Latin America, will take additional responsibility for retail activities in Switzerland and France.
PICTET ASSET MANAGEMENT SA
The Geneva-based asset manager recruited Mathias Leijon as a senior investment manager in its European equities team. Mathias joins from Cheuvreux’s Credit Agricole Group, where he covered the Nordic region.
The global valuation firm appointed Emily Hadley as the director and head of its debt advisory practice in the UK. Emily joins from Barclays Capital Mortgage Servicing, where she served as vice-president of special servicing.