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A weekly look at some of the most recent and influential people moves across the global banking industry. Simon Duffy reports.

Ulrich Körner

Ulrich Körner – group executive board member, UBS

UBS has announced that Credit Suisse CEO Ulrich Körner will join its executive board and stay on to help manage the integration of the two banks. Its $3.2bn acquisition of crisis-stricken Credit Suisse is expected to conclude within the next few weeks. 

Mr Körner first joined Credit Suisse in 1999 as chief financial officer for Switzerland and progressed to CEO of the bank’s Swiss operation in 2008. He returned to Credit Suisse as group CEO in July last year. 

He was appointed in a bid to improve the troubled lender’s fortunes after a string of scandals and risk management failures, including the collapse of US hedge fund Archegos and British supply chain finance firm Greensill, dented the bank’s income and shook investor confidence. Prior to his return, he spent a decade at UBS, culminating in a stint as adviser to the CEO from 2019 to 2020.

Commenting on Mr Körner’s appointment, UBS said: “With his knowledge of both organisations, he will be responsible for ensuring Credit Suisse’s operational continuity and client focus, while supporting the integration process.” 

UBS has confirmed that the combined company will initially operate as two separate entities, with each continuing to serve its own clients and dealing counterparties. Credit Suisse will continue to rely on its established governance and risk control frameworks, with some new policies added to increase UBS’s oversight. UBS’s board of directors and executive board will hold overall responsibility for the consolidated group. 

The combined company will comprise five business divisions, seven functions and four regions in addition to Credit Suisse, with each represented by an executive board member reporting to UBS CEO Sergio Ermotti. UBS wealth management chief Todd Tuckner will become chief financial officer for the group, replacing Sarah Youngwood, who has decided to step down.

In addition, Beatriz Martin Jimenez, UBS’s UK head and group treasurer, will assume the role of head of non-core and legacy. She will be responsible for winding down Credit Suisse’s operations that are unlikely to have a place in the long-term vision of the combined company. 

With attention now shifting to UBS's strategic plan for the combined company, UBS reiterated that it will “evaluate all options for Credit Suisse’s Swiss business” and "will communicate further on this matter in the coming months”.

Scott Roose

Scott Roose – head of US capital markets, NatWest

NatWest has appointed former Credit Suisse dealmaker Scott Roose as head of US capital markets. He will report to Jonathan Peberdy, global head of capital markets, and regionally to Michelle Girard, head of US and CEO of NatWest Markets Securities. The bank also announced the promotion of Edward Brown to head of US primary capital markets.

Mr Roose’s departure from Credit Suisse concludes a career of more than two decades with the bank. He joined in 2000 as a managing director within its US corporate coverage unit and, in 2013, progressed to oversee its debt capital markets business in Europe, the Middle East and Africa. Most recently, he was Credit Suisse’s global head of environmental, social and governance financing, based in New York.

Holger Barth

Holger Barth – global head of banking depositary, European Depositary Bank

European Depositary Bank (EDB), a Luxembourg-headquartered provider of banking, depositary and custody solutions, has appointed executive board member Holger Barth as its new global head of banking depositary. Mr Barth will manage and oversee €178.3bn in assets under depositary and €24.6bn in assets under custody across jurisdictions including Luxembourg, Ireland, the UK and Malta.

Prior to joining EDB in 2021 as a managing director and member of its executive management board, Mr Barth previously worked as head of investor services at SEB and as head of Credit Suisse Luxembourg’s depositary banking service.

Amanda Lee

Amanda Lee – Asia-Pacific head of third-party manager solutions, Citi Global Wealth Investments

Citi Global Wealth Investments, a division of Citi created in 2021 comprising the combined wealth management businesses of its private bank and global consumer bank, has appointed Amanda Lee as Asia-Pacific regional head for third-party manager solutions. 

Based in Singapore, Ms Lee will assume responsibility for driving Citi’s third-party mutual growth fund strategy across its wealth management business in Asia-Pacific. She joins from JPMorgan, where she was most recently Asia managed solutions specialist for its private banking business. Prior to that, she worked as a mutual fund specialist at Eastspring Asset Management, in addition to stints at HSBC and Citi in Malaysia.

Christian Laloe

Christian Laloe – head of debt capital markets and special situations in Latin America, KNG Securities

KNG Securities, a London-based fixed income investment banking boutique, has appointed Christian Laloe as head of debt capital markets and special situations in Latin America.

Mr Laloe brings more than two decades of experience in Brazilian fixed income to the firm. He joins from Globex Advisory, where he advised Brazilian corporates on solutions to optimise their capital structures. Prior to that, he worked at BTG Pactual on its proprietary trading desk. 

According to KNG Securities, Mr Laloe’s experience in the Latin America region is strategically important to the delivery of its expansion strategy within emerging markets.

KNG Securities was established in 2003 as a dedicated agency broker, specialising in trading illiquid fixed income securities with institutional clients.


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