In the wake of major outflows from its asset management business, Deutsche Bank’s supervisory board is shuffling executives, particularly Nicolas Moreau, who will no longer run the asset management unit by the end of 2018. The German banking giant’s asset management business reported €3 billion ($3.4 billion) of net outflows for the third quarter of… Read More >>
DTCC Partners with Symphony for DXM Service
Symphony to Enhance DTCC Exception Manager Service The New York City-based Depository Trust & Clearing Corp. (DTCC), a post-trade market infrastructure provider for the financial services industry, reports that it has signed an agreement with Symphony, a cloud-based messaging and collaboration platform. The agreement “significantly expands communication and collaboration capabilities within the DTCC Exception Manager… Read More >>
Broadridge to Promote COO to CEO
Financial technology systems and services provider Broadridge Financial Solutions will be getting a new top executive next year according to a succession plan that will see current CEO Rich Daly become executive chairman of the board and that will elevate Tim Gokey, the company’s president and chief operating officer (COO) to CEO. The Broadridge board… Read More >>
Lloyd Blankfein to Retire from Goldman Sachs
Lloyd C. Blankfein will be stepping down from his dual role as chairman and CEO of Goldman Sachs Group after a 12-year reign at the top during which he guided the firm through the Great Recession and many controversies. The changing of the guard at Goldman Sachs was not met with surprise as there have… Read More >>
Deutsche Börse’s ‘Roadmap 2020’ Will Require 350 Layoffs
Deutsche Börse executives are planning an overhaul that will result in 350 job losses, a new focus on organic growth, acquisitions, and new technologies, according to the German exchanges company’s “Roadmap 2020” strategy presentations at its annual Investor Day in London, May 30. In particular, Deutsche Börse officials want: To grow structural net revenue “by… Read More >>
NYSE Shatters Glass Ceiling via First Woman President
While the New York Stock Exchange (NYSE) has been known for breaking records as far as volumes, the trading venue just broke a glass ceiling for women on Wall Street. Officials at the Intercontinental Exchange, Inc. (ICE), NYSE’s owner, report that Stacey Cunningham, currently the chief operating officer (COO) for NYSE, will become the next… Read More >>
New Deutsche Bank CEO to Snap the Line
Deutsche Bank’s supervisory board is replacing CEO John Cryan after less than three years on the job, following persistent losses for the German banking giant, and citing the need for “a new execution dynamic in the leadership of our bank.” The bank is hoping that Christian Sewing will snap the line and bring a new… Read More >>
Derivatives Pioneer Leo Melamed to Retire from CME Group
Derivatives industry veteran Leo Melamed will retire from the CME Group board of directors, where is serving as chairman emeritus, at the conclusion of his current term in May 2018, officials say. After his retirement, Melamed will act as a consultant to the CME Group for the next two years. “After that time, Melamed will… Read More >>
Quantitative Brokers Taps IHS Markit for New CEO
Also Thomas Ascher is QB’s New Executive Chairman of the Board Quantitative Brokers has hired Ralf Roth, IHS Markit’s former equities division chief technology officer (CTO) to be its new CEO and named industry veteran Thomas Ascher to be the next executive chairman, officials say. Starting December 18, Roth will take the reins as CEO… Read More >>
LSE’s CEO Suddenly Departs Amid Shareholder Battle
LSEG Shareholder Upsets Previously Announced Succession Plan Xavier Rolet stepped down as CEO of the London Stock Exchange Group (LSEG) on Nov. 29 “with immediate effect,” reports the LSEG board, following a controversial move by a key LSEG shareholder. Rolet’s temporary replacement is David Warren, current chief financial officer (CFO) for the LSEG, who will… Read More >>
