In other People Moves, the SEC names a director to oversee compliance inspections and exams, R.J. O’Brien has a new head of its global risk department and TP ICAP appoints a CEO for its data and analytics division.
FINRA’s Axelrod to Help with Transition
Susan F. Axelrod, departing EVP for regulatory operations, FINRA
The Financial Industry Regulatory Authority reports that Susan F. Axelrod will leave the organization early in the new year for the private sector, after 28 years at FINRA and NYSE Regulation, its predecessor.
She has been executive vice president for regulatory operations since 2013, responsible for heading the member regulation program, the office of fraud detection and market intelligence, enforcement, and shared services, FINRA says in a statement.
FINRA officials say that Axelrod will stay in her current position until Jan. 5, 2018, “to help with a smooth transition and to continue to implement key organizational initiatives.”
Axelrod will then be a senior advisor to Robert Cook, FINRA’s president and CEO, through the end of April. FINRA will immediately begin the search for Axelrod’s successor, according to the authority’s statement.
As EVP for regulatory operations, Axelrod has “led a nationwide team of more than 1,400 people in 14 offices in executing several of FINRA’s core regulatory programs,” FINRA notes.
Axelrod began her career at NYSE in 1989 as a staff attorney in the division of enforcement and became an enforcement director in 1997.
SEC Names Director of the OCIE
Peter B. Driscoll, director, OCIE, SEC
The SEC reports that Peter B. Driscoll has been named director of the agency’s office of compliance inspections and examinations (OCIE). He has been as acting director at OCIE since January 2017.
OCIE is responsible for directing the SEC’s National Examination Program.
“National Examination Program staff conduct examinations of SEC-registered investment advisers, investment companies, broker-dealers, self-regulatory organizations, and transfer agents, among others,” according to the SEC. “The National Examination Program uses a risk-based approach to fulfill its mission of promoting compliance with the U.S. securities laws, preventing fraud, monitoring risk, and informing policy.”
Driscoll was named OCIE’s first chief risk and strategy officer in March 2016, after previously serving as OCIE’s managing executive from February 2013 through February 2016, the commission says.
R.J. O’Brien Hires Giemza to Lead Global Risk Department
Brad Giemza, MD and CRO, R.J. O’Brien & Associates
Chicago-based R.J. O’Brien & Associates (RJO) reports the appointment of Brad Giemza as managing director and chief risk officer. Giemza also will be part of RJO’s senior management team.
Giemza has nearly two decades of experience in financial services risk, clearing and technology management, according to a statement, which notes that he currently heads he RJO risk department, “overseeing all risk activities and chairing the corporate risk committee.” He is relocating to Chicago from Southern California.
Prior to joining RJO, Giemza spent three years at Mitsubishi UFJ Financial Group (MUFG) Americas, Union Bank, “most recently as Managing Director, Head of Investment Banking and Capital Markets IT,” RJO says. “In that role, he was responsible for aligning technology, risk and operational objectives and accountable for the implementation of services for interest rate derivatives, commodities and foreign exchange trading for Union Bank and Bank of Tokyo Mitsubishi United.”
Prior to MUFG he spent seven years at Newedge Group as senior director, most recently as global head of risk IT. He also held senior roles at the firm in clearing and straight-through processing, RJO notes.
TP ICAP Picks CEO for Information Services
Eric Sinclair CEO, TP ICAP Data & Analytics
A former Toronto Stock Exchange executive Eric Sinclair will be joining TP ICAP as the new CEO, TP ICAP Data & Analytics, on November 13, to help expand the products, services and analytics capabilities of the interdealer broker.
Sinclair’s hiring follows Frank Desmond’s decision to leave the position at the company after 12 years of service, officials say. Desmond has served as a member of the executive committee of interdealer broker Tullett Prebon plc, part of TP ICAP, and served as CEO of Tullett Prebon Information, the financial information division of Tullett Prebon, officials say. Prior to joining Tullett Prebon Information, he worked at Reuters PLC in legal and business roles.
Sinclair spent 14 years at the Toronto Stock Exchange, and was president of its market insights division, officials say. Before the exchange, he also spent time at Spectra Securities Software as executive vice president and Reuters as vice president. “During his time at TMX, Eric led the growth of their data business by focusing on strategic partnerships and acquisitions, as well as the development of new products and services, the company’s sales force, and client services,” according to TP ICAP officials.
TP ICAP operates via a set of core businesses: Tullett Prebon, ICAP, PVM, Mirexa Capital, Tullett Prebon Information, ICAP Information Services and PVM Data Services.
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