Citi has appointed Mitali Sohoni as Head of North America Markets in addition to her existing responsibilities as Head of Asset Backed Financing, according to a source familiar with the matter. In this role, Sohoni will coordinate our strategy for NAM Markets. She will continue to report to Mickey Bhatia with a matrix reporting line to Sunil Garg, CEO CBNA, Head of NAM. She joined Citi 19 years ago and has overseen several businesses including: CLO/Credit Financing, Asset-Backed Securities, Clean Energy Finance, Global Infrastructure Finance, Residential Finance, Citi Community Capital, Municipal Finance, and Asset Finance Group. In addition, Dina Faenson has been appointed CEO of CGMI reporting to Andy Morton, Head of Markets, in addition to her existing responsibilities as Head of Markets Counterparty Trading & Risk.
Vanguard has appointed Salim Ramji as the Company’s new Chief Executive Officer and a member of the Board, effective July 8. Ramji succeeds Tim Buckley, who will retire and step down as Chairman and CEO. Ramji is a senior financial services executive with more than 25 years of experience in investments, capital markets and wealth management, including a decade as a senior leader at BlackRock Inc., leaving in January 2024. Most recently, he was Global Head of iShares & Index Investing, where he was responsible for managing a majority of the firm’s client assets and evolving the iShares platform to provide an even broader set of innovative low-cost products for investors globally. Prior to leading iShares, Ramji was the Head of U.S. Wealth Advisory and began his BlackRock career as the Global Head of Corporate Strategy.
The Charles Schwab Corporation has announced several executive transitions as part of the firm’s long-term succession planning strategy. Peter Crawford, after a distinguished 22-year career with the firm, including serving as Chief Financial Officer since 2017, has decided to retire from Schwab following a planned transition period. Crawford will be succeeded by Mike Verdeschi who will join the firm on May 20 as a Managing Director and Deputy Chief Financial Officer. Effective June 28, 2024, Joe Martinetto will transition from his role as Chief Operating Officer to assume the role of Executive Chairperson of the Schwab Banks. Martinetto has served the firm, employees, and clients in multiple roles over the past 25-plus years, including roles as CFO and Treasurer. In addition, Bernie Clark will transition from Head of Advisor Services to an advisory role to the firm.
CalSTRS has named Scott Chan as chief investment officer, effective July 1, 2024. He will report to the board’s Investment Committee and the CEO. Before joining CalSTRS, Chan was senior managing director of the University of California, Office of the CIO of the Regents, where he oversaw the $55 billion global equities portfolio. Chan will draw on his decades of financial expertise and institutional investment experience in directing a growing Investments Branch of more than 225 staff and continue contributing to the CalSTRS executive leadership team. Chan is a board member of the Toigo Foundation, co-chair and board member of the Institutional Investors Roundtable and serves on the Milken Institute’s Executive Counsel for Diversity, Equity and Inclusion in Asset Management.
Clear Street has appointed Sean Hendelman as Chief Executive Officer of its Active trading division. Hendelman’s experience building a global trading platform with equities, options, futures and algorithmic offerings will support Clear Street’s further expansion in the roughly $10 billion active trading market. Hendelman has 25 years of capital markets experience and founded T3, which provides trading, training and technology to professional traders and is a premier, robust destination for traders to maximize their performance in today’s active trading markets. Additionally, Hendelman co-founded and serves on the board of the social investing platform public.com.
Delta Capita, a global Capital Markets consulting, managed services, and technology provider has welcomed Liliana Girao-Tavares as its new US Head of Client Lifecycle Management. Based in New York, Girao-Tavares will be responsible for leading the CLM business in the region, working closely with clients and local and global teams to support Delta Capita’s North American clients. Most recently, she was the CLM Global Head of Regulatory Due Diligence at Credit Suisse, now part of the UBS Group. Her prior career experience spans Goldman Sachs and Citigroup.
Paxos, a regulated blockchain and tokenization infrastructure platform, has added J. Christopher Giancarlo, former Chairman of the United States Commodity Futures Trading Commission (CFTC), to its board of directors. A well-respected figure in the financial services industry, and a passionate blockchain technology advocate, Giancarlo brings invaluable expertise and knowledge to Paxos as it continues to lead in digital asset innovation.
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