Snapshot of notable global financial services CFO moves, appointments, themes and trends

“Increasing examples of senior finance leaders making a move out of the tier one

January 2016 - April 2016 banking groups.”

CFO Themes

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Next update due: 19/9/2016

Summary of key themes and trends Jan - Apr 2016

 Growing appetite from and drive overall  US banks investing heavily non-banking financial efficiency savings after in global FP&A functions services firms to five years of cross industry in a continued response significantly upgrade their investment to CCAR and augmented audit functions with a reporting requirements focus on improved  Increasing examples of business partnering, senior finance leaders regulatory interface and making a move out of data analytics the tier one banking groups given the

 Significant activity in the increasingly challenging Audit COO space as regulatory environment large banking groups look and the role of the CFO to streamline global in it methodology, improve training & development

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Next update due: 19/9/2016

Key global people moves and appointments:

UK market: Ekene Ezulike, CFO Infrastructure at Deutsche Christopher Hill joins Hargreaves Lansdown as Bank is made Chief Procurement Officer. His CFO. Previously he served as CFO for IG Group Insurance previous role is being covered by Neil Smith. and Travelex. Glynn Jones joins ANZ as the Head of Financial Helen Pickford is appointed UK Life CFO at Audit Planning & Analysis for the markets business. He Zurich. Helen replaces Neil Evans who joins was previously the CFO for Financial Markets at Graham Mason joins Lombard Odier as Global as the Head of Financial Reporting for the . Head of Audit for the investment management life business. business. He was previously Regional Audit Paul Copson joins HSBC as the Global Head of David Foster joins Pioneer Underwriters, the Director at BlackRock and is replaced by Product Control, replacing Richard Boyns who underwriting group within Minova Insurance Rosanna Burr who moves into audit from the moves internally. Holding, as CFO. David was previously the business. Matthew Ristau joins State Street as Managing Deputy Corporate Controller at XL Catlin. John Mitchell joins Standard Chartered as Head Director, Accounting Policy Group, based in Alberto Minalo, CFO at Generali, is promoted to of Audit, Finance having previously been with New York. He was previously a Director in the General Manager. Bank of America. accounting policy and global valuations Steve Jules joins Lloyd’s of London as Head of oversight group at Deutsche Bank. Charlie Wright is promoted to EMEA General Market Finance. Steve was previously a Director Auditor at Bank of America. He previously led Ravi Vazirano, APAC CFO at Morgan Stanley, in the insurance practice at PwC. has moved to become APAC COO, replacing Banking Arun Kohli who relocates to London as EMEA COO. David Lui will become CFO APAC. Francesca Hampton joins the Co-Operative Alistair Webster becomes Head of Regulatory Group as Interim Finance Director. Francesca Capital Policy & Oversight at JPMorgan. He was was previously Director of Finance at MetroBank. previously the Head of Accounting Policy for the Carmen Herbstritt, Head of Regional Finance corporate and investment bank globally. Germany at Deutsche Bank is made CFO,

Switzerland, across all business lines.

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the regional team aligned to the banking and Karen Dignan joins Pension Insurance relations. Owen was named Chief Administrative markets business. Corporation as the Head of Internal Audit. Karen Officer and oversees an office that supports the was previously the Audit Director for wealth company’s operations in 60 countries. Valaria Locatelli joins Pioneer Investments as management and group head office functions Head of Internal Audit. Valeria was previously Jennifer Moss becomes the Managing Director, at Old Mutual. Global Head of Audit for the wealth & asset Head of International Tax, at Blackrock. She management business at HSBC. Ray Cockrem joins State Street as a senior vice moves from Citi as Head of Domestic Tax president in the EMEA audit team with Planning and M&A Tax. Amanda Haines joins RBS as Audit Director, responsibility for supporting the asset servicing Practices & Support. She was previously the Thomas Jordan is the Director of Tax Accounting business. He was previously Audit Director for the EMEA Audit COO at Morgan Stanley. and Compliance in the Americas for Credit asset management business at Old Mutual. Suisse. He has come from Goldman Sachs as VP James Oates, Group Head of Internal Audit at - Tax Reporting Group. UBS is promoted to Group Head of Compliance. He is replaced in the interim by Alan Jack McGinnis is the Executive Vice President US market: Wehrenberg, currently UK Head of Compliance and CFO at ManpowerGroup. He was the global & Operational Risk and Global Head of Anthony Sciarra moves to Enstar Group Ltd. as controller at Morgan Stanley. Investment Banking Compliance & Operational the Global Head of Tax. He came from AIG as Bill Shepherd moves from Bank of America Risk. Senior Tax Director, Head of Corporate Tax where he was CFO for Global Wealth & Matt Burton joins Old Mutual as Head of Internal Reporting & Analysis. investment Management to be Head of Audit for the wealth business. He was previously Mark Lubin moves to PwC as Banking and a Partner in the financial services internal audit Capital Markets Tax Director to focus on team at PwC. planning and reporting complex restructurings, Dean Barham joins Standard Chartered as COO, M&A and other transactions involving US-based Group Internal Audit. Dean previously held a global financial companies. He comes from BNY similar role at . Mellon where he was Managing Director - Head of International Tax. Paul Marshall joins EY as a Senior Advisor in the internal audit and corporate governance Sarah Youngwood moves internally to become practice in London. He was previously the Chief CFO of consumer and community banking, Auditor for franchise audit at Citi. succeeding David Owen at JPMorgan. Youngwood was previously head of investor

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Corporate Finance at Bridgewater Associates, of Financial Reporting. David succeeds Ravi LP. Vazirani, who progressed to become the APAC

Chief Operating Officer for Morgan Stanley. Andrei Magasiner, at Bank of America, is appointed Group Treasurer. He was previously Dagmar Maria Kamber Borens has left Singapore CFO for Global Banking & Markets. where she was APAC CFO for UBS. Her replacement is yet to be announced. Johnbull Okpara joins Morgan Stanley as Global Head of FP&A. He joined from Capital One Amol Gupte is the new Singapore Country where he was Deputy Controller. Officer and Head of ASEAN for Citi. He took over Michael Zink who is retiring. Amol was previously APAC Head of Treasury and Trade Solutions. Vishal Kapoor succeeds Amol as APAC Head of

European market: Treasury and Trade Solution and was previously APAC Head of Trade Sales. Fabrizio Petrillo, CFO of AXA Winterthur moves Deborah Mur relocates to Singapore as Head of internally and assumes the role of Head of Treasury Trade Solutions for Asia Industrials, Property & Casualty. The new CFO will be an Energy & Power Sectors in Citi. She was internal candidate. previously based in Paris as Western Europe Gary Hughes takes over the role as CFO at Head of Treasury & Trade Solutions. Equatex, a spin-off from UBS.

Marcelo Szerman takes over the responsibility as

CFO for Bank J. Safra Sarasin. He replaces Thomas Mueller who leaves the bank.

Asian market:

David Liu was promoted to APAC CFO for Morgan Stanley. He was previously APAC Head

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Key interim CFO themes and trends Jan - Apr 2016

 Regulation: Increased location strategy and cost demand for interim resource allocation How can

to assist with the Leathwaite assist?

implementation of IFRS9, With a global network of offices that are  Audit: specialist interim audit CCAR and FRTB constantly communicating with the CFO resource is in demand, market, Leathwaite is perfectly positioned to advise clients on the future

either to help upskill audit demand cycle for talent.

 Optimisation, consolidation functions (in some cases London: +44 207 151 5151 and cost reduction: Major re following regulatory Zürich: +41 44 214 6640

-structuring of Finance at recommendations), or to Hong Kong: +852 3152 2463

many global banks as they lead specific audit reviews New York: +1 646 461 9100

seek to improve processes, For a discussion on how the talent control and infrastructure landscape is changing within this sector, please call your regional Leathwaite through the review of office. shared service structures, www.leathwaite.com

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