Vanguard has announced that Tim Buckley will retire from his role as Chairman and Chief Executive Officer by year-end 2024 after a dynamic and highly successful tenure as CEO and more than three decades of distinguished Vanguard service. Vanguard’s Board of Directors has initiated a comprehensive process to select a new CEO, evaluating both internal and external candidates. Vanguard has also announced that Chief Investment Officer Greg Davis has been appointed to the additional role of President of the firm. In his expanded role as both President and CIO, Davis will be responsible for all aspects of the firm’s investment management, retirement business, and services for financial advisor clients. Davis, a 24-year Vanguard veteran, was first appointed CIO and global head of Vanguard Investment Management Group in 2017.
Anthony Zmuda, Managing Director at MCAP LLC, has been named Head of Sales Trading, focusing on broadening MCAP’s sales trading initiatives, with an emphasis on International Equities and Algorithmic Trading. Zmuda, who has been at MCAP LLC since 2019, is an experienced senior sales trader and relationship manager. Prior to MCAP, he held roles at Virtu Financial and Pershing, a BNY Mellon company. In addition, Dan Seidenstein, Managing Director, has been named Head of Relationship Management at MCAP LLC, the broker-dealer subsidiary of MCAP Inc. In this new role, Seidenstein will lead the relationship management division for MCAP products, serving a key role in the expansion of cross-asset distribution efforts to its institutional customers. Prior joining MCAP in 2020, Seidenstein worked at Citi for over 21 years.
The Securities and Exchange Commission (SEC) has announced that William Birdthistle, Director of the Division of Investment Management, will depart the agency, effective March 8, 2024. Natasha Vij Greiner, currently the Deputy Director of the Division of Examinations, will be named Director of the Division of Investment Management upon Birdthistle’s departure. In addition to serving as Deputy Director of the Division of Examinations, Greiner is the National Associate Director of the Investment Adviser/Investment Company (IA/IC) examination program, which includes the Private Funds Unit, and is the Associate Director of the Home Office IA/IC examination program. She began her SEC career in the Division of Examinations (formerly OCIE) as a broker-dealer examiner and has served in a variety of roles across the agency for more than 22 years.
Doug Braunstein has joined Wells Fargo & Company as Vice Chairman. He will report to CEO Charlie Scharf. Braunstein joins Wells Fargo with more than 35 years of industry experience, including nearly two decades at JPMorgan Chase, where he held several executive management roles, including Chief Financial Officer and Vice Chairman. He was previously Head of JPMorgan’s Americas Investment Banking, Head of Global M&A, and Global Head of Industry Coverage.
Siepe has hired Shelly Torkelson as Director of Software-as-a-Service (SaaS), and Teresa Lange Pierson as Director of Compliance. Torkelson brings over 20 years of experience in the Collateralized Debt Obligation (CDO) and CLO industry. She joins after spending a decade as Managing Director of Client Service at Virtus Partners (acquired by FIS in 2019), overseeing the firm’s CLO, fund, and middle-office services. Lange Pierson has over 30 years’ experience across the financial and private credit landscape, with more than two decades focused on compliance in CLO markets. Before joining Siepe, Lange Pierson spent 22 years at BNY Mellon, where she was most recently Director/Sr. Group Manager of Corporate Trust Analytics, spearheading the global group’s management of CLO and asset-backed securities (ABS) analytics.
Pirum Systems has appointed Frank Seibold as Head of Commercial Development, Americas. He joins the global fintech’s New York office and will work alongside Matthew Lilien, Head of Sales North America. With a distinguished 30-year career, including holding senior positions across financial services, data, trading and post-trade platforms, Seibold brings a wealth of experience in growing businesses that serve enterprise clients at the intersection of financial services and technology. He joins Pirum from CME Group, where he was Global Head of Strategic Relationship Management & Head of Cash Market Sales. Previously, he held senior positions at ICAP, NEX Group, as well as Thomson Reuters.
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