Our FinTech roundup also covers SGSS’s choice for a new corporate actions processing platform, and staff changes at Nomura Europe, LSEG, and Natixis.
Citi Tries to Combat ‘Zoom Fatigue’
Jane Fraser
In a move getting a lot of attention, Jane Fraser, CEO of Citigroup, reached out to bank employees to address pandemic fatigue and instituted several major changes such as “Zoom-Free Fridays.”
In a memo and blog posting, “Latest Update on the Future of Work at Citi,” dated March 24, Fraser addresses the need for a reset a year into the global pandemic.
To help staff implement a reset, Citi is “going to take three actions,” Fraser says.
“First, we are launching Zoom-Free Fridays and are designating Fridays as a day free of video calls — at least internally. After listening to colleagues around the world, it became apparent we need to combat the ‘Zoom fatigue’ that many of us feel, so I overcame my initial resistance to this idea. There still will be client and regulator meetings that need to happen via Zoom, but any internal meetings occurring on Fridays (or an equivalent day in the Middle East) should happen as audio-only calls,” according to the memo.
Secondly, Fraser says that she wants staff to set “healthy work boundaries. We are busier than ever, but please try to limit scheduling calls outside of what had been traditional working hours pre-pandemic and on weekends (remember those?) We are of course a global company that operates across time zones, but when our work regularly spills over into nights, very early mornings and weekends, it can prevent us from recharging fully, and that isn’t good for you nor, ultimately, for Citi.”
Her third stipulation is that staff take their vacations, and Fraser is taking her own advice by “taking a few days off at the end of the month … In that spirit, we are announcing a Citi Reset Day, a firm-wide holiday on Friday, May 28. This is something we did last year, and this year we are giving plenty of notice so you can plan a day where we are all off and your emails and phones are quiet. If you need to work on May 28, or if Friday is part of the weekend in your country, please work with your manager to find another day in the two weeks after May 28.”
Fraser’s full blog posting can be found here: http://citi.us/2P0H9bQ
Nomura Adds Staff in Europe
Nomura Europe Holdings plc., part of the Asia-based investment bank, has appointed Kevin Connors to be global head of foreign-exchange and enterprise-management sales, and to serve as the head of EMEA for the group. The appointment to the newly created position is effective immediately.
Based in London, Connors will report to John Goff, head of global markets, in the Europe, Middle East and Africa regions and Rig Karkhanis, deputy head of global markets and global head of foreign exchange and enterprise management. Connors joins Nomura from Commodities World Capital, where he was CEO.
In addition, Nomura Europe has appointed Simon Russell as head of technology, media and services in EMEA, with immediate effect, officials say.
Based in London, Russell will report to Guy Hayward-Cole, head of EMEA advisory, and chairman of technology, media and services in EMEA.
“In this newly created position, Russell will be leading a team advising European companies operating across technology, media and services (both tech-enabled and traditional), on mergers and acquisitions, as well as divestments and their related financing needs,” according to a Nomura release.
Russell joins Nomura from Macquarie Capital, where he was a managing director in technology investment banking, officials say.
Nomura was founded in 1925.
SGSS Uses BaNCS for Corporate Actions Processing
Global custodian Société Générale Securities Services (SGSS) is using the BaNCS system from Tata Consultancy Services to support corporate actions processing and cash management services via the SGSS multi-entity asset servicing platform in Germany, U.K., France, Ireland and Luxembourg, officials say.
“SGSS was looking for a platform that met its strategic objectives of providing standardized corporate actions processing and cash management services, and consistent customer experiences across their multiple locations in Europe,” according to TCS. SGSS picked the Corporate Actions and Account Management components of TCS BaNCS.
The new platform uses “a hub and spoke model, where the core processing is carried out in a highly automated fashion in the central hub, while the spokes are client facing and local,” officials say.
SGSS has deployed TCS BaNCS for Corporate Actions “to handle processing across custody and investment banking on the same platform, officials say. For cash payment services, the vendor system offers real-time position keeping and liquidity management.
“TCS BaNCS is also unique in its ability to handle processing across custody and investment banking on the same platform,” says R. Vivekanand, co-head, TCS Financial Solutions, in a prepared statement.
LSEG Fills Posts in Data & Analytics Group
The London Stock Exchange Group plc (LSEG) reports the appointment of Lea Carty to lead its investment solutions business, and Arne Staal to lead its Financial Times Stock Exchange Russell.
Carty will be based in the U.S. and will report to Andrea Remyn Stone, chief product officer for the data analytics division.
Staal, head of product and research at FTSE Russell, will lead the FTSE Russell business as group head, indices and benchmarks, reporting to Carty.
The appointments are subject to regulatory approval.
Natixis Picks a Senior Country Manager for Singapore
Sanjeev Kumar
Natixis, a French corporate and investment bank (CIB), reports the appointment of Sanjeev Kumar as senior country manager, Singapore, and head of South East and South Asia, CIB.
Kumar will be based in Singapore and report to Bruno Le Saint, chief executive officer, Asia Pacific for CIB. Kumar succeeds Pin Chua who is leaving the bank to pursue his personal ambitions, according to a statement.
Kumar is a 25-year banking and finance-industry veteran, with experience in New York, London, Hong Kong, and Singapore.
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