With around 70 employees out of its European investment bank, including 10 managing directors, Morgan Stanley has announced a second round of job cuts.
Evan Riley, the head of the US equity capital markets, has been appointed by BNP Paribas as the French bank expands its presence in the country. He previously worked for UBS as a managing director.
Morgan Stanley's Michael Maag, the chief executive of its Swiss operations, will join Alantra as a chief executive of its Swiss operations, while Rothschild banker Martin Gamperl has been appointed as the managing director of its Zurich investment bank.
Peter Orszag, Lazard's new chief executive, said it needs to aim higher as he prepares to shake up the strategy of the independent investment bank after its first leadership change in 14 years. Ken Jacobs, who has been in charge of the independent investment bank for a long time, has been replaced by Orszag.
Scott McDavid, who has served as head of equities at Morgan Stanley, will join Barclays as a global head of equities. In September, he will join the UK lender and replace Paul Leech and Todd Sandoz, who resigned in February. Ronnie Wexler, a global head of equities distribution, was also appointed as the head of global equities distribution.
Nej D'jelal, who has been leading up UBS's Neo electronic trading platform for more than two years, has joined London Stock Exchange Group as the group's head of its Workspace platform.
Anne Boden, who was chief executive of Starling from 2014 to 2014, is to step down as chief executive of the challenger bank. She will remain on the board as a non-executive director.
The co-founder of rival bank Monzo and payments firm GoCardless, Tom Blomfield, has resigned as partner of Y Combinator, the tech venture capital firm. The sort of belief that you can achieve anything, I think is very, very powerful and intoxicating, and doesn t exist as much in London. As it prepares to launch a dedicated global sustainability equities team, Giles Money has joined Allianz Global Investors, which has hired Giles Money from sustainable investor Sarasin Partners. Money, who joins as chief investment officer of the new division in August 2023, manages several funds at Sarasin, including its 388.9 m Responsible Global Equity fund. He previously ran ESG strategies at F&C Asset Management and Schroders.
Claire Peel, the CEO of DWS, has quit the role of chief financial officer. Peel is expected to exit at the end of the third quarter. The asset manager said it will begin the process of replacing Peel in the next few weeks and will look at internal and external candidates.
Fidelity International has named its first head of stewardship in Europe. Emilie Goodall, the newly created leader, will lead Fidelity's engagement with companies in the region on ESG issues and manage its proxy voting in Emea and the Americas. In 2022, she joined the asset manager as a director of sustainable investing and impact and is based in London.
Wellington Management's employees have been reduced by 5%, as asset managers follow large investment banks with workforce reductions.
The US investment manager, who is based in Boston, has a $1.4 tn in assets and is responsible for $1.4 tn in assets, cut 170 roles this week, sources told Financial News.
A spokeswoman said the cuts were part of a firmwide review, which has resulted in a 5% reduction to its 3,400 global headcount.
London Stock Exchange Group chief financial officer Anna Manz is stepping down to take on a different role in the finance industry. She will remain LSEG's CFO until May 2024, working through her 12-month notice period. The exchange said Manz' replacement bid for the role was ongoing.
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