Now at the rough mid-point of the year and entering the height of summer, we see similar numbers of new executive roles being allocated in the forex, crypto and fintech industries this week. Let’s review the executives that have taken on new roles and challenges in our executive moves roundup of the week.
Executive Moves of the Week
From GKFX to AvaTrade
Pedro Sánchez Bennai, after ten years of working for the broker GKFX, has confirmed that he joined AvaTrade in June. Bennai has been appointed as the Chief Country Manager for Spain and is working from the broker's office in Madrid.
Before joining AvaTrade, he held the position of Deputy Regional Director for three years at GKFX. Earlier, he was a Country Manager for a year and started his journey with the company in 2013 as a Sales Manager & Analyst.
"I have started a new position as Chief Country Manager Spain at AvaTrade," Bennai wrote on his LinkedIn profile.
Praxis Elevates CSO
Praxis, a software development company headquartered in Cyprus, has moved its Chief Sales Officer (CSO), Natalie Agopian, to a branch in the United Arab Emirates (UAE). Agopian will now head the local office as the Dubai Regional Manager.
"I'm happy to share that I'm starting a new position as Dubai Regional Manager at Praxis," Agopian wrote on her LinkedIn profile.
The new Dubai Regional Manager joined the company in July 2018 as a Business Development Manager. After a year, she was promoted to the position of CSO and spent almost four years in that post.
Credit Suisse’s Execs in Israel Move to Swiss Private Bank EFG: Report
Seven executives working for Credit Suisse in Israel, including the CEO, Joseph Wolf, are now moving to a Swiss private bank, EFG International, Reuters reported on Tuesday, citing anonymous sources. Wolf, who joined Credit Suisse (CS) Israel in April last year, will lead the team to build a new wealth management advisory business for EFG in the Western Asian country.
According to Reuters, Joseph Dadoun, Credit Suisse’s Head of Private Banking in Israel, is also one of the executives making the move to EFG. Dadoun joined the former Swiss lender in November 2018 as a Senior Relationship Manager. The executives resigned from their jobs in early June and are expected to take up the roles in early September, the outlet added.
Discover more about Senior executives from Credit Suisse Israel moving to EFG, a Swiss private bank.
American Express' CFO Campbell Retires; Insider Named Successor
American Express announced that its Vice Chairman and Chief Financial Officer, Jeffery C. Campbell, would step down on August 14, 2023. He would be replaced by the current Deputy Chief Financial Officer, Christophe Le Caillec.
However, Campbell will remain Vice Chairman at the financial services company until March 2024. Before joining American Express, Campbell served as CFO of McKesson and American Airlines.
He is credited with formulating and implementing the company’s growth strategy since assuming his role as CFO in 2013.
Goldman Sachs Adds Tom Montag
Goldman Sachs Group Inc. plans to appoint Tom Montag, a notable alum and ally of the CEO, David Solomon, to its Board. The decision comes amid a period of publicly aired internal discontent within the firm. The Goldman Sachs veteran, who later rose to a high-ranking position at Bank of America Corp. after leaving Goldman Sachs 15 years ago, is being brought back into the fold.
The Board decided to tap Montag at a meeting in India, likely as part of an effort to leverage his experience and influence to address the firm's issues. Montag's return to Goldman Sachs signifies a strategic move to stabilize the firm amidst the ongoing turmoil.
i2c Inc. Names Jacqueline White as President
Digital banking and payment solutions provider, i2c Inc., has appointed Jacqueline White as the President to accelerate the growth of the company's global sales and partnerships. White, a seasoned executive with extensive leadership experience in consulting services and enterprise software organizations, will report directly to the Founder and CEO, Amir Wain.
Before joining i2c, White served as the President of the Americas region for Temenos. She also held positions at software giants like Oracle and SAP and with large System Integration Partners, such as Accenture and DXC.
"I am thrilled to be joining i2c during this key period of growth and innovation in the industry," White stated.
UBS to Announce Management Changes
Following the recent acquisition of its former competitor Credit Suisse, UBS is preparing for a series of management changes.
In the upcoming 20 days, UBS plans to announce its third management level, clarifying the roles of approximately 1,200-1,500 people. The CEO of UBS expressed confidence in providing more details about the integration by the end of the summer.
UBS has postponed its second-quarter results until late August to accommodate these changes. Furthermore, the CEO expects to provide additional clarity on the future of Credit Suisse's domestic business by the end of summer as well.
Barclays Fortifies G10 FX Trading Team with Co-Head Appointments
Barclays (NYSE: BCS), the multinational investment bank, has announced the appointment of Torsten Schöneborn and Jerry Minier as the new Co-Heads of the G10 FX Trading unit. With their extensive experience, Schöneborn and Minier will work closely with technologists, trading, quant and sales teams to provide cutting-edge platforms and infrastructure to Barclays' clients.
Barclays has been making significant progress in expanding its Global Macro business to achieve higher operational standards. In an effort to strengthen its foreign exchange (FX) business, the institution has appointed Schöneborn and Minier, utilizing their years of industry experience.
Learn more about Barclays fortifying its position in the market with the new co-head appointments.
Coinmotion Oy Appoints LocalBitcoins’ CEO as Chairman
Coinmotion Oy, a Finnish cryptocurrency exchange, has appointed Sebastian Sonntag, the former CEO of LocalBitcoins, as the new Chairman of its Board of Directors. LocalBitcoins shut down in February, citing a ‘very cold crypto winter’.
Apart from Sonntag, Coinmotion Oy, also welcomed Pekka Ylihurula, the former CEO of S-Bank PLC, a Finnish bank, as a new Board Member. The cryptocurrency exchange believes that Ylihurula’s experience will be of great value to its ‘evolving business’.
“Sebastian and Pekka's combined expertise will undoubtedly drive Coinmotion Oy as it continues to innovate and expand within the cryptocurrency space," said Henry Brade, the outgoing Chairman. Other current members of the crypto exchange’s Board of Directors include angel investor, Taneli Tikka and blockchain developer, Joel Lehtonen.
Nomura Taps Barclays' Nat Tyce to Lead Trading Unit in EMEA
Nomura, Japan’s largest investment bank and brokerage group, has hired Nat Tyce, a Barclay's veteran, to lead its trading unit in Europe, the Middle East and Africa (EMEA). According to a memo seen by Financial News, Tyce will serve as the Head of Global Markets for EMEA.
Previously, Tyce spent over 25 years at Barclays and helped in transforming the British multinational bank’s trading unit into one of its highest-flying divisions. He last worked as the Head of Macro Trading for EMEA and the Asia Pacific at Barclays before his departure in June last year.
According to the memo, Tyce’s new role at Nomura commences today (Monday), as he replaces John Goff who is now the Global Head of Structuring. He will report to Rig Karkhanis, who is the Head of Global Markets, and Jonathan Lewis, the Head of EMEA.
