ASPire Hires for Revamped Business Unit
Kristin McCarthy, ASPire
Retirement plan solutions provider ASPire Financial Services has hired Kristin McCarthy to lead its revamped key account management function, officials say. McCarthy will oversee a team of account executives assigned geographically throughout the U.S. ASPire recently introduced single-threaded engagement model designed to deliver client service throughout the full life-cycle of client relationships. McCarthy joins ASPire with more than 14 years’ experience and recently served as retirement plan services consultant for Gilliam Coble & Moser. She managed ongoing operations, bolstering relationships with third-party service providers and assessing process efficiencies.
ASPire Financial Services is based in Tampa, Fla.
BNP Paribas Securities Services Appoints Development Head
Custodian services provider BNP Paribas Securities Services (BNP Paribas) has appointed Darren Banks to head the development of the UK trustee and depositary business, officials say.
Banks joins from State Street Trustees Ltd. (SSTL) where he served for 12 years in various roles and was involved in the strategic development of the business arising from regulatory developments in Europe and the UK, officials say. He had responsibility for customer management across SSTL representing more than 20 clients with assets representing about £100bn.
James McAleenan, head of the UK at BNP Paribas Securities Services, said that Banks will be responsible for helping “us to become the partner of choice and a differentiator by truly leveraging a pan-European approach to depositary services rather than the traditional UK centric view.”
Deutsche Börse Reshuffles Back Office Business Unit
As part of a reorganization of its market data and analytics unit, Deutsche Börse has created the “Back Office Data + Services” business segment, officials say.
The segment will concentrate on serving the middle and back offices of securities trading firms that require instrument reference data for risk management, compliance activities and services related to reporting obligations. In addition, the unit serves market participants who process and safeguard securities. Sascha Rangoonwala will be in charge of Back Office Data + Services.
The back office shuffle is the result of Deutsche Börse’s formation of the “Market Data +Services” business segment that combines with its external technology and connectivity services, officials say.
The Market Data + Services unit offers front and back office data, indices, hosted exchange infrastructure services and connectivity services housed under five business units: Front Office Data + Services, Issuer Data + Services, Back Office Data + Services, COO Data + Services and Venue Services, officials say.
The Front Office Data + Services unit, to be led by Georg Gross, focuses on investors, brokers, trading desks, algo traders and investment advisors that use real-time data or other market moving signals to make recommendations or transactional decisions. The Issuer Data + Services group, responsible for the STOXX and DAX indices, serves issuers who use indices as underlyings or benchmarks for financial products such as futures, options, ETFs and structured products. Hartmut Graf will be responsible for this business area.
The COO Data + Services division, headed by Sean Chinnock, supports COOs and CIOs of financial market participants that require IT services in order to support or facilitate business processes.
Venue Services targets market operators looking to enhance their business operations with infrastructure and associated services such as trading surveillance. This department will be led by Alexander Höptner, officials say.
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