Northern Trust Corporation has announced a number of leadership changes, effective October 1, 2024. Peter B. Cherecwich, President of Asset Servicing, will become Chief Operating Officer. Cherecwich brings decades of experience in managing complex client relationships and global operations. Teresa Parker will defer her previously announced retirement and serve as President of Asset Servicing. Parker most recently served as President, Europe, Middle East and Africa (EMEA). Steven L. Fradkin, who has served in a wide variety of leadership roles including President of Wealth Management, President of Asset Servicing, Chief Financial Officer, and head of the international business, will be named Vice Chairman of Northern Trust. Chief Financial Officer Jason Tyler will assume the role of President of Wealth Management. In addition, David W. Fox Jr., President of the Global Family & Private Investment Offices Group, will serve as Chief Financial Officer.
Richard Oldfield has been appointed as Group Chief Executive of Schroders, succeeding Peter Harrison, with effect from November 8 2024, subject to regulatory approval. In his 30 years at PwC, Oldfield held senior roles including Network Vice Chairman and Global Markets Leader. Since joining Schroders as Chief Financial Officer in October 2023, he has made an immediate and significant contribution, providing a fresh perspective on capital management, driving new initiatives such as the inaugural bond issue earlier this year and embedding commercial discipline across the Group.
The FINRA Board has elected Large Firm Governor — John Vaccaro, Chair and CEO, MML Investors Services; Head of MassMutual Financial Advisors; Mid-Size Firm Governor — James Crowley, CEO, Pershing Advisor Solutions; Senior Executive Vice President, Global Head of BNY Pershing; and Small Firm Governor — Jennifer Szaro, Chief Compliance Officer, XML Securities.
The Securities and Exchange Commission has announced six new members to fill vacancies on its Investor Advisory Committee: George Georgiev, Associate Professor of Law, Emory Law School; R. Craig Knocke, Principal, Turtle Creek Management; Amy C. McGarrity, Chief Investment Officer/Chief Operating Officer, Colorado Public Employees’ Retirement Association; Jennifer J. Schulp, Director of Financial Regulation Studies, Cato Institute’s Center for Monetary and Financial Alternatives; Andrea Seidt, Ohio Securities Commissioner; Alvin Velazquez, Associate Professor of Law, Indiana University Maurer School of Lawand. The new members, who will serve four-year terms, join 17 current committee members.
Franklin Templeton has announced the appointment of Todd Bitzer, Emily Cox and Andre Cuerington as Senior Vice President, Client Advisors, US Institutional. Bitzer is based in Atlanta. Cox, who additionally serves as an Alternative Specialist, is based in Southern California. Cuerington is based in Northern California. Bitzer has over 30 years of financial industry experience, most recently serving as Managing Director at Lucid Management & Capital Partners focused on institutional business development. Cox has over a decade of experience in the financial services industry, joining from Tetragon where she worked in business development focused on alternatives, including private credit strategies. Cuerington has over 27 years of financial industry experience, most recently serving as managing director for Makena Capital Management’s client strategy group.
Fausto Monacelli has joined Scotiabank as Managing Director, Head of U.S. General Industrials and Services – Consumer, Industrial & Retail (CIR) Investment Banking. Based in New York, he will report to Michael Mahoney, Managing Director & Head, Consumer Industrial Retail, Corporate and Investment Banking. Monacelli joins Scotiabank after more than 18 years at Goldman Sachs, including recent roles as Head of Automotive and AutoTech, and Head of Business Services.
Michele Foldenauer has joined ACA Group as a Managing Director and a leader of its tech-enabled Mock Examination Team. With over 20 years of experience in the securities industry, Foldenauer brings a deep well of knowledge and expertise. She held senior leadership roles at the U.S. Securities and Exchange Commission’s (SEC) within the Private Funds Unit.
Neuberger Berman has hired Jeff Blazek, a 25-year veteran of asset management and consulting, as Managing Director and Co-Chief Investment Officer for Multi-Asset Strategies, based in New York. Blazek brings more than 25 years of investment experience to his new role, having previously been a Partner and New York office leader at Cambridge Associates. Earlier, he served in senior investment roles with New York-Presbyterian Hospital and the Teacher Retirement System of Texas.
BNP Paribas Asset Management has appointed Carmine De Franco as Head of the Quant Equity portfolio management team. Based in Paris, Carmine reports to Olivier Laplénie, Head of Quant Portfolio Management. Carmine joins BNPP AM from Ossiam where he spent 12 years in various positions, first as Portfolio Manager and then as Head of Research and ESG, where he worked on the design, implementation, and management of quantitative strategies for global institutional clients.
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