In other People Moves, OpenDoor Trading, Mizuho Americas and Crédit Agricole are shuffling executives as a European association of CSDs fills top positions.
NFA Board Searching for Replacement
The National Futures Association (NFA) reports that Daniel Roth, its president and CEO, plans to retire “in the coming year.” The NFA’s board has begun a search for his successor.
Roth, who has held the presidency and the CEO post since the beginning of 2003, joined the NFA in September 1983 as an attorney and since has held a number of positions, including general counsel, executive vice president and chief operating officer, the organization notes in a statement
The NFA, with almost 4,000 members and more than 54,000 associates, characterizes itself as the “industrywide, self-regulatory organization for the U.S. derivatives industry, including on-exchange traded futures, retail off-exchange foreign currency (forex) and OTC derivatives (swaps).”
OpenDoor Trading Names President
OpenDoor Trading, purveyors of a proprietary trading platform focused on off-the-run treasuries and treasury inflation-protected securities, has appointed Robert Grillo president.
The appointment comes as OpenDoor’s platform prepares to launch, the firm says in a statement, which notes also that the Grillo appointment follows the recent hire of Guy Haselmann as managing director of product solutions.
Grillo, a Bank of America — Merrill Lynch (BAML) veteran, is joining a management team headed by CEO Susan Estes, OpenDoor notes.
“In his new role, Grillo is responsible for driving product development and electronic distribution. He will help expand the growing pool of primary dealers, central banks, asset management firms and other institutional investors supporting the pending launch,” according to OpenDoor.
Prior to Grillo’s position at BAML, he served as a managing director at Deutsche Bank, Credit Suisse First Boston, Black River Asset Management, HSBC and JPMorgan, according to OpenDoor.
Mizuho Americas Hires MD for Energy & Power Sector
Mizuho Americas reports the appointment of Brian Zarahn as managing director for Mizuho Securities’ energy, power and alternative energy sector in North America.
Zarahn will cover energy infrastructure and master limited partnerships (MLPs) out of Mizuho’s San Francisco office, and will report to Sheryl R. Skolnick, director of research for Mizuho Securities USA, according to a statement.
Mizuho Americas officials note that Zarahn has 11 years of “bulge bracket equity research experience, most recently as a Director and Senior Equity Research analyst at Barclays…. Prior to Barclays, he worked as an equity research analyst at Lehman Brothers, covering MLPs since 2007 and the paper and forest product sector since 2005.”
The Mizuho Americas group of companies is part of the Japan-based Mizuho Financial Group, Inc., which tallies more than 56,000 employees in 920 offices throughout the Americas, EMEA, and Asia. At the end of 2015, its total assets were $1.6 trillion, the group says.
CACEIS CEO Moves to Crédit Agricole CIB Post
Jean-François Abadie, CEO, CACEIS
Crédit Agricole, the venerable bank that evolved into a multinational from its roots serving French farmers in the nineteenth century, has reported two new appointments in its major clients division, which includes Crédit Agricole CIB, Indosuez Wealth Management and CA’s asset servicing business CACEIS.
Jean-François Abadie, head of global operations at Crédit Agricole CIB, has been named CEO
François Marion, deputy CEO, Crédit Agricole CIB
of CACEIS, and will join Crédit Agricole S.A.’s extended executive committee. François Marion, the outgoing CEO of CACEIS, has been named deputy CEO of Crédit Agricole CIB in charge of supervising support functions, officials say.
Abadie’s Crédit Agricole career began in 1981 when joined Banque Indosuez’s internal audit department and Marion’s Crédit Agricole career began when he joined Banque Indosuez’s internal audit department in 1983, officials say. In subsequent years, both veteran executives took on positions of increasing visibility and responsibility at the bank, including heading the major corporate clients division in Paris (Abadie) and becoming chief operating officer in Asia (Marion).
The major clients division is supervised by Jean-Yves Hocher, deputy CEO of Crédit Agricole S.A. and CEO of Crédit Agricole CIB.
CEO of Poland’s CSD to Serve Again on ECSDA Committee
Iwona Sroka, the CEO of the central securities depository (CSD) of Poland Krajowy Depozyt Papierów Wartościowych (KDPW), has won re-election to the executive committee of the European Central Securities Depositories Association (ECSDA) via ECSDA members.
In addition, Mathias Papenfuß, a member of the executive board of Clearstream Banking (since 2013), was re-elected as ECSDA chairman for another term of three years, officials say. ECSDA, which consists of 39 representatives from the European CSD community, held its general meeting in Warsaw on May 20, officials say.
“In view of the dynamically changing environment of the European financial market and new post-trade regulation, the voice of industry organizations will be key to having a professional dialogue with regulators and lawmakers,” Sroka says in a prepared statement. “Personally, I will contribute to the ECSDA work and make best efforts to ensure that the position and interests of smaller markets are well represented in European projects.”
The ECSDA executive committee (ExCo) oversees the work of the organization, which now includes mainly post-trade regulatory issues, officials say.
The other elected ExCo members are: Clearstream (Germany; ICSD), Euroclear (Belgium, Netherlands, Finland, France, Ireland, Sweden, UK; ICSD), KELER (Hungary), OeKB CSD (Austria), Iberclear (Spain), LCD (Lithuania), NSD (Russia), Monte Titoli (Italy), VP Securities (Denmark), ATHEXCSD (Greece), KDD (Slovenia), SKDD (Croatia).
Established in Madrid in 1997, ECSDA represents 41 national and international central securities depositories in 37 European countries. It is a forum for CSDs to exchange opinions, take joint initiatives, issue opinions on draft securities settlement legislation, ECSDA officials say.
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