Trading Places: Fintech fights for talent and a big deal for Citigroup

Citigroup hired a Deutsche Bank dealmaker to bolster its technology investment banking team in Europe, a key focus for the US bank as it looks to take advantage of so-called mega-trends.

David Ibáñez has joined Citi as a managing director within its technology group in Europe, the Middle East and Africa, according to an internal memo seen by Financial News.

Bank of America named Thomas Sheehan as sole head of its investment banking unit in the latest leadership reshuffle at the US bank.

Sheehan, a seven-year veteran of the bank who has co-headed its traditional investment banking unit for two years, has been handed responsibility for the unit as Jack MacDonald steps down.

Citigroup named a new head of its investment banking unit covering private equity firms and other alternative asset managers in Europe following the departure of former boss, Alexis Maskell, to the buy-side.

The US bank has also bolstered its alternative assets group in Europe with the appointment of former Credit Suisse executive, Didier Denat, as chairman of the unit as it aims to gain market share from rivals in the region.

HSBC Asset Management hired BlackRock senior director Jasvir Virk to bolster its UK institutional team. In a new business development director role based in London, Virk will be tasked with broadening and deepening the bank’s relationships with UK institutional investors, with a particular focus on UK pension schemes, and will report to Maria Ryan, head of institutional sales for the UK, the Middle East and North Africa, and the Nordics.

Financial data and services company MSCI appointed Tia Counts to the newly-created role of chief diversity officer. After starting her career at law firm Clifford Chance, Counts took on senior roles at Morgan Stanley, and was previously global head of diversity and inclusion for JP Morgan’s asset and wealth management business. She will report in to Scott Crum, MSCI’s chief human resources officer.

Innovate Finance, the industry body representing the UK’s fintech sector, appointed Lloyd’s of London chief digital officer Louise Smith as its new chair. Smith is the first chief digital officer at Lloyd’s, having taken on the job in January last year as the historic insurance market undergoes a major transformation strategy. She is also the government-appointed fintech envoy for Scotland, and previously spent almost a decade at RBS in its tech-focused divisions.

Law firm Volterra Fietta promoted Peter Flint to partner.  The international arbitration, litigation and dispute resolution specialist joined the firm last year. He has been lead counsel on cases including mining company Mineralogy’s dispute with Australia, and high-value claims against the government of Ghana. He is currently advising the civilian government of Myanmar on the international law aspects of the country’s coup.

Digital bank Revolut appointed Mikko Salovaara, a 29-year-old Yale graduate, as its new group chief financial officer. Salovaara joined the bank in January as its vice president of finance, and became group CFO in April. Prior to joining Revolut, Salovaara spent five years with 3G Capital, three of which were with its portfolio company Kraft Heinz where he acted as a regional CFO for China, APAC and the US. He also previously worked for Elliott Advisers in the UK, with an emphasis on public and private market strategies.

Exchange services company Aquis hired former JP Morgan and Goldman Sachs man David Stevens to the newly-created role of chief revenue officer. Stevens was formerly chief executive of foreign exchange broker Global Reach Group, and will oversee sales and client servicing across all geographies. Meanwhile, Aquis Exchange Europe chief Graham Dick is retiring, to be replaced by Jonathan Clelland, the company’s chief financial officer and chief operating officer, who will be moving to Paris in the summer and will take on the additional role of chief executive for Aquis Exchange Europe.

Weil Gotshal & Manges hired Clifford Chance competition partner Jenine Hulsmann as a partner in its London office. Hulsman focuses on competition law and regulation in sectors such as technology, pharmaceuticals and energy and infrastructure.

Weil London managing partner Mike Francies said: “Jenine’s extensive track record of advising major corporates and large private equity funds on competition and regulatory matters fits perfectly into our European platform.”

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