Finance

Trading Places: Investec nabs Credit Suisse vet, Kirkland & Ellis hires Freshfields PE partners

In a busy week of earnings and booming revenues from the investment banks, the financial services sector also seen top moves with veteran executives crossing the floor.

Among them, Kathryn Spain, who spent two decades at Credit Suisse, will join Investec as head of North American sales distribution along with four other senior hires as the firm builds out its team in New York to sell UK stocks to US investors.

In the legal world, Kirkland & Ellis hired two private equity partners from Freshfields Bruckhaus Deringer, poaching Keir MacLennan and Vincent Bergin as partners in London. It’s another raid from Kirkland, which brought over David Higgins and Adrian Maguire from Freshfields in 2018 and 2019 respectively.

Dutch bank ABN Amro is appointing new executive board members and simplifying its structure from four business lines into three. The lender said Choy van der Hooft-Cheong and Dan Dorner will be appointed as new executive board members with Van der Hooft-Cheong heading up the new wealth-management client unit and Dorner heading up corporate banking. It’s looking for a new chief for the personal and business banking unit.

Citigroup poached 28-year ABN veteran Rutger van Nouhuijs to head banking, capital markets and advisory for Benelux, according to a memo seen by Financial News. Belgium, the Netherlands and Luxembourg represent a “significant wallet opportunity” in Europe, the memo said.

The UK Treasury is accelerating plans to replace its lead policymaker on Brexit. In the search for a successor to Katharine Braddick, the outgoing director general for financial services, it’s considering whether to use the contacts of senior executives or to use a headhunter, Financial News learned through a Freedom of Information request.

Meanwhile, Phil Wagstaff, global head of distribution at Jupiter, will depart the FTSE 250 asset manager at the end of next year.

Wagstaff, who joined Jupiter in 2019, will be replaced by Warren Tonkinson, who is currently managing director of distribution.

News of Wagstaff’s departure comes after Jupiter announced earlier in the week that chief investment officer Stephen Pearson will retire next year. Jupiter said it is “well advanced” in the process of finding his successor.

Healthcare fund manager Dan Mahony has left Polar Capital and will remain an adviser to the fund, which specialises in active asset management, according to an internal memo seen by Financial News. He joins biotech company Evotec, according to his LinkedIn profile.

Polar also hired Tara Raveendran and Brett Pollard to lead the research unit and be an investment analyst, respectively. They join analyst Damiano Soardo and fund managers Gareth Powell, James Douglas, David Pinniger and Deane Donnigan.

TransitionZero, a climate analytics firm, named Yulanda Ho Yan Chung to its board of directors. Chung, currently the head of Sustainability of Institutional Banking at DBS Bank in Singapore, previously led the sustainable finance unit at Standard Chartered in London. TransitionZero is a founding partner of Climate TRACE coalition, which is backed by former US Vice President and climate activist Al Gore.

Finally, digital bank Zopa appointed a chief people officer. Helen Beurier was previously an executive at companies such as Marks & Spencer, PepsiCo and GSK and will help the company strengthen its capacity for rapid growth.

To contact the author of this story with feedback or news, email Brian Swint

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