Here is a breakdown of the key moves and promotions this month
NAME: LAURENT DEGaBRIEL
TO: BARCLAYS WEALTH
FROM: BNP PARIBAS
Barclays Wealth has appointed Laurent Degabriel as segment director for its international private client businesses. Degabriel will report directly to chief investment officer Kevin Lecocq and will be part of the senior management team within the group's investment and product office. Key responsibilities will include the analysis of segment market intelligence, driving client needs-led product development and shaping new and innovative investment and cross-product strategies. Degabriel joins from BNP Paribas where he was most recently head of structured, derivatives and financing products for the Private Bank. Lecocq said: "Degabriel's role is one that will be fundamental in ensuring that identified client needs remain at the centre of all our investment strategies and propositions. His experience of structured, derivatives and financing product development will be invaluable as we move towards a more institutionally oriented and solutions-based offering for our international private clients."
NAME: LUCIO SARNO
TO: AXA INVESTMENT MANAGERS
FROM: UNIVERSITY OF WARWICK
Axa Investment Managers has appointed Lucio Sarno as director of currency research to expand its newly-formed currency management team within its fixed income business. Sarno joins Axa IM from the University of Warwick, where he has been professor of finance since 2002, and associate dean of research of Warwick Business School since 2005. Sarno also acts in several consultancy roles including the International Monetary Fund and the Italian Ministry of Economy and Finance. He joins Axa IM in March 2007 and will report to Andrew Dales, the group's head of currency management. Dales said: "Sarno's role will be to generate new ideas and to make sure that our existing insights are adapted to changing market circumstances."
NAME: ANGUS SCRACE
TO: THREADNEEDLE INVESTMENTS
FROM: MORLEY FUND MANAGEMENT
Threadneedle Investments has appointed Angus Scrace as global head of consultants and investment specialists, a new role to highlight its commitment to the consultant market and to reinforce its expertise in global equities, liability-driven investment and property. Scrace will report to Madeline Forrester, head of UK distribution, and will be responsible for managing Threadneedle's relationships with the global consultants and leading a team of investment specialists. Scrace, who has more than 15 years' experience in investment and the financial services industry, will join from Morley Fund Management where he was the head of consultant relations. He has led teams dedicated to consultant relationships at both Morley and Fidelity Investments. Prior to Fidelity, he worked for Coopers & Lybrand primarily in financial services. Forrester said: "Scrace will bring a wealth of talent and experience to Threadneedle, where we have a well-established client base in UK equities, fixed income and property. He will be instrumental in helping us to seize the opportunities in existing channels, while widening our distribution, particularly into the pan-European institutional arena."
NAME: PALOMA PEDROLA
TO: SOCIETE GENERAL SECURITIES SERVICES
FROM: CITIBANK INTERNATIONAL
Société Générale Securities Services (SGSS) has appointed Paloma Pedrola as head of investor services, Spain. Pedrola will report to Etienne Deniau, deputy head of investor services for SGSS based in Paris. She replaces Jean-Louis Vayne who has been named head of international securities operations for Société Générale Investor Services. Pedrola started her career at AB Asesores Bursatiles, now part of Morgan Stanley, moving on to Credit Agricole Indosuez, and Bancoval, the specialist securities services firm. In 1999, she became manager of the securities settlement department at Schroders Securities, now owned by Citigroup. Pedrola continued her career as controller of the global securities services department in Citibank International.
NAME: MIKE SPITTAL
TO: INVESTEC TRUST
FROM: TRIDENT TRUST
Investec Trust in Jersey has appointed Mike Spittal as managing director. Spittal will also represent the Jersey business on the Investec Trust group board, taking a key role in the future direction of the broader trust business. Spittal is a qualified lawyer, having practiced for 12 years in his native South Africa, prior to moving to Jersey where he has worked in the finance industry for five years, most recently for Trident Trust. Investec's chief executive officer Robert Clifford said: "Our strategy is to ensure we really deliver for private clients. That means having qualified and experienced staff who take the time and have the experience to invest in and really contribute to meaningful relationships with key private clients. Spittal's experience and leadership skills will ensure our strategy is promoted and we continue to build on past successes."
NAME: TOSHIO KONISHI AND MASAHIKO KOMATSU
TO: POLAR CAPITAL
FROM: SCHRODER INVESTMENT MANAGEMENT
Polar Capital has hired Toshio Konishi and Masahiko Komatsu, who were previously at Schroder Investment Management, to join Tomomi Morito in Polar's Tokyo office. Konishi, who joined at the end of November, will head up the research team and has more than 16 years' experience of researching Japanese equities. He spent 11 years at Schroders where he was a director and senior buy-side analyst covering autos, cyclicals and capital goods in Tokyo. Before that, Konishi was at the Swiss Bank Corporation working as an analyst in the chemical, energy and utility sectors. Komatsu joined Polar on 19 December after almost 10 years' experience in bottom-up research of Japanese equities in UK and US affiliated active asset management firms. At Schroders, where he spent six years, he was a manager and senior analyst responsible for construction, housing, real estate, transportation, utility, glass & ceramics and plant engineering sector research. Prior to that, Komatsu was an analyst at Prudential Asset Management.
NAME: PAUL THOMPSON
TO: SGI MANAGEMENT
FROM: PRUDENTIAL FINANCIAL ASSET MANAGEMENT
SGI Management has appointed Paul Thompson as managing director. Thompson has more than 15 years' experience in asset management and an in-depth knowledge of the global investment funds business, in particular mutual funds. He led the development of the international investment funds business at Goldman Sachs, has served as a director of numerous fund entities and has advised many asset management businesses and regulators across the world, including the Institutional Money Market Funds Association, Fidelity and Prudential Financial Asset Management's joint venture in China.
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress