Recent People Moves

Published: July 18, 2008

Linklaters appoints new head of EEMENA region

Linklaters announced the launch of a new group to service emerging markets in Europe, Middle East and North Africa (EEMENA).  Nick Eastwell has been appointed Managing Partner for the region.

The move will see Linklaters deploying greater resources to focus on the key emerging markets, in response to a change in the economic dynamics of the region. The EEMENA group will comprise over 50 partners with experience across more than 40 jurisdictions in these markets. The group is strengthened by the recent appointments of two new partners in Moscow, two in Dubai and three counsel in Warsaw.

The aim of the new approach is to create a more co-ordinated and flexible structure which will enable Linklaters to focus on the faster growing markets in which its key clients are most interested, such as Russia, Poland, Ukraine, Turkey, Kazakhstan, UAE and Saudi Arabia, whilst continuing to advise in the other EEMENA countries alongside trusted local advisers.

Nick Eastwell, Managing Partner of EEMENA, said: "We are responding to the quickly changing needs of our clients and to changes in the market. The investment banks, world class corporates and sovereign wealth funds continue to increase their focus on new and emergent markets. Clients will benefit from our new, more structured approach to the region which mirrors their own. In many ways, this approach is an extension of our existing and highly successful strategy in this fast-changing region, where we already have considerable experience of advising clients where we do not have offices."

Bank of London and the Middle East appoints head of syndication

Bank of London and The Middle East plc (BLME), the shariah-compliant London-based wholesale bank, announced that it has appointed Roscow Lucas as its head of syndication. Roscow has over 20 years’ experience in the syndicated loans market and will assist the bank in addressing the growing requirement for larger and more complex Islamic funding. Roscow has spent 11 years at Australia and New Zealand Banking Group Limited (ANZ), where he was head of global syndication and involved in deals in the Middle and Far East, South East Asia and Latin America. Roscow also contributed significantly to maintaining ANZ’s position as number one arranger in India and Pakistan.

Humphrey Percy, CEO of BLME, said: “The syndicated Islamic finance market is growing at unprecedented levels. As the transactions within our market become bigger and more complex, syndicated finance will become an increasingly important mechanism for Islamic bankers. Roscow has enjoyed a long and distinguished career in this area and his appointment is excellent news to BLME. His experience is undoubtedly a major asset to our bank.” Roscow Lucas commented: “At a challenging time for global financial markets, corporations are looking for alternative sources of finance. Syndicated Islamic finance is a potential alternative liquidity source and therefore increasingly attractive in today’s market. I am looking forward to joining BLME and capitalising on the strong growth potential of syndicated loans in the Islamic finance market.”

The Bank of New York Mellon appoints new head of EMEA structured products

The Bank of New York Mellon has appointed Dean Fletcher as managing director of structured products group covering Europe, Middle East and Africa (EMEA) for the international division of the company’s Global Corporate Trust business. Fletcher will lead development and expansion of the firm’s growing structured finance business across EMEA. He is based in London and reports to James Maitland, head of the EMEA region for the corporate trust business. Fletcher joins The Bank of New York Mellon from Barclays Capital, where he was global head of operational risk and new products. Prior to that he was head of risk management for JP Morgan’s corporate trust unit for three years and served as head of structured finance in EMEA with JP Morgan for three years.

Barclays appoints Managing Director for Middle East and North Africa

Barclays Bank announced the appointment of Michael Miebach as the managing director of Barclays Global Retail and Commercial Banking (GRCB) in the Middle East and North Africa with direct responsibility over the UAE business. Miebach will oversee Barclays existing retail and commercial banking operations in the UAE and Egypt, in addition to exploring growth opportunities in the region. Miebach joined Barclays on July 1, 2007 as the managing director for Sub-Saharan Africa, leading the bank’s highly successful businesses in seven African countries. Prior to that, he spent 13 years with Citigroup in Germany, Austria, UK and Turkey. His experience spans across investment banking, corporate and commercial banking, and retail banking.

Baring Asset Management appoints private client investment manager

Baring Asset Management (Barings), the international investment management firm, announces the appointment of a new investment manager to its private clients team in London. Simon Clark joins as a director with immediate effect and will report to John Maitland, Head of Private Clients. The announcement follows Barings’ recent appointment of Lynne Pellegrini, director, and Graham Glass, senior investment manager, to its private clients team in Guernsey. Prior to joining Barings, Clark has spent 12 years in private wealth management, most recently at Brooks Macdonald as a director within their asset management division. His clients’ portfolios were constructed using a multi asset-class approach including structured products, direct equity, hedge funds, private equity, fixed income, property, cash and cash alternatives.

Citi Names Derek Bandeen Head of Global Equities Trading

Citi announced the appointment of Derek Bandeen as Head of Global Equities Trading. Bandeen will have responsibility for continuing to develop Citi's global equities trading business, in which the firm has invested significantly in recent years. Bandeen joins Citi after a 22-year career in a variety of equities trading roles for Morgan Stanley. Most recently, he was Head of European Equities. Past roles have included Head of Equity Derivatives in Europe and Head of European Equities trading. At Citi, he will be based in London and report to Jim Cowles, Head of Global Equities Products.

Citigroup to move EMEA capital markets chief to Dubai

Citigroup is expanding its debt markets business in Dubai by transferring its co-head of Europe, Middle East and African capital markets from London. Atiq Rehman, appointed co-head of the EMEA capital markets business, plans to move by the summer to oversee businesses including acquisition, leveraged and project financing. Previously Rehman was co-head of global loans and leveraged and emerging markets finance as part of his 24-year career at the bank.

Credit Suisse Asset Management appoints global equities head

Cesar Perez assumed the role of Head of Equities in addition to his role as head of European Equities. Perez has been with Credit Suisse since 2007 and joined from M&G Investments where he was credited with turning around their European Equity franchise and was an S&P "AA" rated fund manager. Perez joined M&G Investment Management in 2002 and in his time there restructured the team, increased the product offering, and significantly boosted investment performance. Prior to this Perez spent the first nine years of his career at JP Morgan Asset Management, initially focusing on Spanish equities and later broadening his mandate to cover all of Europe.  He has a degree in Business Administration and Industrial Management from the University of Madrid.

Deutsche Bank announces Senior Management appointments in Russia

Deutsche Bank announced the appointment of Igor Lojevsky as Chief Country Officer for Deutsche Bank in Russia. Lojevsky joins from Dresdner Bank where he was chairman of global banking and capital markets for Russia and CIS. He will join Deutsche Bank in August and report to Juergen Fitschen, member of the Group Executive Committee and Head of Regional Management.

Following the appointment of Lojevsky, Charles Ryan will become Chairman of Deutsche Bank in Russia. Commenting on the appointments, Juergen Fitschen said: "These appointments demonstrate our investment in and commitment to this key market. It will enable us to invest, maintain and build upon our leading, long-established franchise in Russia. We see great opportunities in the country and are committed to providing the best talent and ideas for our clients."

Lehman Brothers strengthens Middle East efforts with senior appointment

Lehman Brothers, the global investment bank, announced the appointment of Philip Lynch, a member of the firm's Europe and Middle East executive committee and currently co-head of Equities Europe and the Middle East, as chief executive officer for the Middle East and North Africa. In addition, Jameel Akhrass, who has been CEO for the Middle East and head of Middle East Investment Banking since April 2006, has been appointed as the vice chairman of the Middle East and North Africa. Lynch will be based in Dubai and will report to Jeremy Isaacs, Chief Executive Officer, Europe, Middle East and Asia-Pacific and Benoit Savoret, Chief Operating Officer, Europe and the Middle East. Lynch, a 21-year veteran of Lehman Brothers, has held several senior positions including head of Global Finance for Europe from 2004 until May 2007, and prior to this was co-head of Asia-Pacific Investment Banking.

Merrill Lynch appoints Fares D. Noujaim president of Middle East & North Africa

Merrill Lynch announced that Fares D. Noujaim will be joining the company as president of the firm's business in the Middle East & North Africa. He will also be the global head of sovereign wealth funds. Noujaim will be based in the Middle East and New York, reporting to Gregory J. Fleming, president and chief operating officer of Merrill Lynch. Noujaim will be joining Merrill Lynch from Bear, Stearns & Co., where he was vice chairman of the board of directors and a member of the firm's president's advisory committee, having previously served as the committee's chairman. As one of Bear Stearns' senior-most investment banking officers, Noujaim was instrumental in leading successful transactions for a number of Fortune 25 companies, particularly in the automotive and telecommunications sectors; he advised on M&A transactions valued at over US$300bn, most recently advising Thomson on the US$17bn acquisition of Reuters. Additionally, he facilitated financings totalling in excess of US$1tr.

Morgan Stanley hires chief economist for Turkey, the Middle East and North Africa

Morgan Stanley announced that it has hired Tevfik Aksoy as an executive director and chief economist for Turkey, the Middle East and North Africa. Aksoy joins Morgan Stanley from Deutsche Bank where he worked since 2004, most recently holding a similar position as chief economist for Turkey. In this role he also covered a number of East European and African countries. Prior to his role at Deutsche Bank, Aksoy held a number of senior positions in both the financial services and academia in the UK, USA and Turkey. Aksoy is based in Istanbul and reports to Joachim Fels, co-head of global economics.

Renaissance boosts Middle East & Africa investment management team

Renaissance Investment Management (RIM), the specialist in high-opportunity emerging markets, has hired Zeeshan Ali as the firm continues its expansion into the Middle East and Africa. Ali, who will be based in Dubai, will help grow Renaissance’s investment management business in Dubai, including the development of funds focusing on the Middle East, North Africa and South Asia (MENASA). Ali was previously at Argent Financial Group International, where he was the Senior Portfolio Manager of the Constans Crescent Investment Fund, an equity long/short hedge fund focused on the Middle East and North Africa, and the first hedge fund to be domiciled in the Dubai International Finance Centre. Before that he worked at Aragon Global Management and Goldman Sachs.

Renaissance Capital takes stake in Ghanaian, Zambian brokerages; hires head of investment banking for Ghana

Renaissance Capital, the specialist investment bank for high opportunity emerging markets, is further increasing its presence in sub-Saharan Africa by purchasing minority equity stakes in New World Investments, a Ghanaian brokerage, and Pangaea/EMI Securities, a Zambian brokerage. The firm also announced that it has hired Abena Amoah to be Head of Investment Banking for Ghana and CEO of the new joint Ghanaian business. The strategic alliances between Renaissance Capital and the two brokerages follow a long period of cooperation and a number of transactions in which Renaissance has worked with the Ghanaian and Zambian brokerages in their respective markets.