In other People Moves, the SEC has a departure in the investment management division and a promotion in Atlanta while the OCC has a new chief risk officer.
Kames Fills Key Fixed Income Vacancies
Stephen Snowden, co-head, fixed income, Kames Capital
Kames Capital, a self-described specialist investment management business, has promoted Stephen Snowden and Adrian Hull to serve as the co-heads of fixed income with immediate effect, officials say. They are replacing staff members who have decided to exit the industry.
As of June 30, Snowden has 23 years of industry experience and most recently has been serving as head of credit at Kames, overseeing a team of 10 investment professionals, officials say. Hull, who is a senior fixed income investment specialist with 27 years of experience, has had team leadership responsibilities during his time in investment banking.
Snowden specializes in investment grade credit and co-manages two investment grade bond funds and an absolute return
Adrian Hull, co-head, fixed income, Kames Capital
bond fund, officials say. He returned to Kames Capital in July 2011 from Old Mutual Asset Management where he managed the corporate bond fund. He began his career at Kames in 1994, “initially focusing on equities before moving to the fixed income team to manage corporate bond funds,” officials add.
Before his promotion, Hull was a senior investment specialist in the fixed income team “where his role involved supporting the team in explaining how the company products and investment process add value for clients,” officials say. “Prior to joining Kames Capital, he worked as head of sterling trading and sales at Mizuho International, where he set up the sterling corporate bond trading and sales desk.”
The promotions follow the departure of David Roberts, head of fixed income who has decided to leave the business after 13 years and Phil Milburn, head of fixed income investment strategy, who has also decided to leave the business, according to Kames.
“As part of his new role, Snowden will continue as co-manager of the Kames Absolute Return Bond Fund alongside Colin Finlayson and the investment grade bond and investment grade global bond funds alongside Euan McNeil,” officials say.
Juan Valenzuela will co-manage the Kames Strategic Bond Fund and will become co-manager of the Kames Strategic Global Bond Fund for which Roberts and Milburn were co-managers, according to the firm.
“Alex Pelteshki who joined Kames in 2014 from ING Financial Markets has been appointed co-manager of the funds. Colin Finlayson will be support manager on both funds. Jack Holmes, who joined Kames in 2016 from Standard Life Investments will provide additional support,” officials add. “Iain Buckle will continue as co-manager of the sterling corporate bond fund on which Roberts was also a co-manager. Rory Sandilands, who joined Kames in June 2016 from Goldman Sachs will join the fund as co-manager.”
David Ennett and Stephen Baines will still run the Kames high yield bond fund which Milburn was a co-manager of, according to Kames. “Ennett will be joined by Jack Holmes as co-manager of the High Yield Global Bond Fund, which Milburn was also a co-manager of. All will be assisted by the wider Kames Fixed Income team.”
Kames via its Edinburgh and London offices oversees £44.5 billion (€50.6 billion) for U.K. and international clients such as wealth managers, financial advisers, family offices, pension funds, financial institutions, government agencies and individuals, according to the firm.
Investment Management Director Departs SEC
David W. Grim, retiring director, division of investment management, SEC
The SEC reports that David W. Grim, director of the division of investment management, will leave the agency next month after more than 20 years.
Grim joined the division directly from law school as a staff attorney in the office of investment company regulation. In 1998, he moved to the office of chief counsel, where he served in a number of positions. As director, he led the division’s policy development, legal interpretation, data analysis and disclosure-review functions, according to a statement.
“For over two decades, Dave has vigorously pursued the SEC’s mission. He has promoted and protected the interests of investors,” Chairman Jay Clayton says in the statement. “America’s investors have been well-served by Dave’s dedication, commitment and expertise.”
SEC Names Associate Regional Director for Exams in Atlanta
The SEC reports the promotion of Donna Esau to associate regional director for examinations in the Atlanta regional office.
Donna Esau, associate regional director for examinations in Atlanta, SEC
Esau will direct a staff of approximately 40 accountants, examiners, and attorneys responsible for the examination of broker-dealers, investment companies, investment advisers, and transfer agents across five southeastern states (Alabama, Georgia, North Carolina, South Carolina, and Tennessee), according to a statement.
She began her career at the SEC as an examiner in the Atlanta office’s examination program in 1996, and has served as a senior program adviser in the national examination program and, most recently, as acting associate regional director in the Atlanta office.
Esau has “excellent technical skills, and understands the firms and capital markets which we regulate,” says Walter Jospin, director of the SEC’s Atlanta regional office, in a statement. She also “understands the risks faced by retail investors in our region.”
OCC Appoints Chief Risk Officer
William A. Rowe, chief risk officer, OCC
The office of the comptroller of the currency reports that William A. Rowe has been named its chief risk officer, effective immediately, filling the position vacated by Linda Cunningham when she retired in April 2017.
Rowe, who will continue to serve as liaison to the Federal Deposit Insurance Corp. (FDIC), will head the agency’s office of enterprise risk management and the agency’s enterprise risk committee, according to a statement.
The office of enterprise risk management supports an agency-wide view of risks and evaluates adherence to the agency’s risk appetite statement, and the enterprise risk committee reviews risks facing the agency, according to the statement.
Rowe joined the OCC in 1992 after more than 12 years in the banking industry.
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