JPMorgan Chase Moves Consumer CFO into Bigger Role
JPMorgan Chase & Co. has expanded the reach of Marianne Lake, the current chief financial officer (CFO) of the bank’s Consumer & Community Banking business. Starting next year, Lake will become CFO for all of the bank and a member of the Operating Committee, officials says.Lake will succeed Doug Braunstein, who will become a vice chairman of the financial services giant, after Lake’s transition into the CFO position during the first quarter of 2013.
Jamie Dimon, chairman and CEO of JPMorgan Chase, says in a prepared statement that Lake has an “impressive breadth of knowledge and experience in finance” across the bank’s wholesale and consumer businesses in the US and elsewhere.
Braunstein will work “alongside our investment bankers to further strengthen the capabilities of our world-class Corporate & Investment Bank,” Dimon adds. In the vice chairman role, Braunstein will focus on the top clients of the firm.
Before his time as CFO began in June 2010, Braunstein served as head of investment banking in the Americas from 2008. Prior to that, he had other senior investment banking post, including head of investment banking coverage and M&A.
Lake served as global controller of the investment bank from 2007 to 2009, officials say. From 2004 to 2007, she was in the corporate finance group managing global finance infrastructure and controls functions. Before 2004, she was the senior financial officer in the U.K.
OpenLink Hires MSCI’s ex-CFO
David Obstler,
CFO
OpenLink
OpenLink Financial has hired the former chief financial officer (CFO) of RiskMetrics Group/ MSCI David Obstler to serve in the same role as part of the trading software vendor’s new executive line-up, officials say.
Obstler, who will report to Mark N. Greene, OpenLink’s designated CEO, will have responsibility for all finance and selected administrative functions such as business development, legal and human resources. As part of the executive leadership team, Obstler will help in the strategic planning and resource allocation initiatives for annual operating plans, officials say.
Obstler’s experience encompasses helping companies grow organically and through mergers; he played a key role RiskMetrics’ IPO.
In a prepared statement, Greene says that Obstler’s insight and expertise “will be crucial for the next phase of the OpenLink success story. He will be instrumental in scaling key aspects of our business.”
Greene will take over as CEO on Dec. 19 after completing transitional responsibilities for Fair Isaac Corp. (FICO); he stepped down from the CEO post there earlier this year. Greene will replace current CEO Kevin Hesselbirg, who will become vice chairman of the OLF board.
OLF, based in Uniondale, NY, was acquired in October 2011 by private equity investment firm Hellman & Friedman LLC.
Exegy Business Development Head Moves to Activ
Activ, maker of real-time, multi-asset financial market data and solutions, has named Will Kennedy to executive vice president overseeing global strategy and business development, officials say.
Kennedy was serving as head of business development at Exegy, Inc., a low-latency, market data ticker plant provider. He was responsible for enterprise commercial strategy and alliances.
At Activ, Kennedy will oversee corporate strategy, business development, strategic alliances, key global account initiatives, and sales and marketing for the Americas, officials say.
Before Exegy, Kennedy took on the role of head of data products with S&P Indices, served as head of research sales and business development for ITG, and worked at Reuters in a series of senior management roles in the US and abroad.
Activ’s offerings cover global equities, options, futures and FX market data via content from more than 150 global exchanges and other venues.
Intel’s CEO to Exit Early
Paul Otellini, Intel’s president and CEO for the past eight years, will step down as an officer and director at the company’s annual stockholders’ meeting in May 2013, which marks the start of a leadership transition over the next six months, officials say.
Intel’s board of directors will manage the process of finding Otellini’s successor and will consider internal and external candidates for the job.
“After almost four decades with the company and eight years as CEO, it’s time to move on and transfer Intel’s helm to a new generation of leadership,” says Otellini in a prepared statement.
Industry observers say Otellini’s departure before he turns 65 is a sign Intel wants a successor that can lead the chipmaker more aggressively into markets for mobile devices.
Intel also announced that the board has approved the promotion of three senior leaders to the position of executive vice president: Renee James, head of Intel’s software business; Brian Krzanich, chief operating officer (COO) and head of worldwide manufacturing; and Stacy Smith, chief financial officer (CFO) and director of corporate strategy.
ISE Adds to Board of Directors
The International Securities Exchange (ISE) has named Marcus Thompson, a managing director in the CFO division of Deutsche Börse AG, to its board of directors for a two-year term, officials say. Thompson will serve as a non-industry director for the U.S. options exchange.
“Many of us at ISE have had the opportunity to work with Marcus in his role at Deutsche Börse Group over the past five years, and his knowledge of our business and the exchange industry will make him a valuable contributor in this new capacity,” says Gary Katz, president and CEO of ISE, in a prepared statement.
At Deutsche Börse Group, Thompson oversees financial accounting, and he serves on the executive board of the group’s Clearstream subsidiary.
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