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

banking groups.”

January 2016 - April 2016

Growing appetite from

non-banking financial

services firms to

significantly upgrade their

audit functions with a

focus on improved

business partnering,

regulatory interface and

data analytics

Significant activity in the

Audit COO space as

large banking groups look

to streamline global

methodology, improve

training & development

and drive overall

efficiency savings after

five years of cross industry

investment

Increasing examples of

senior finance leaders

making a move out of

the tier one banking

groups given the

increasingly challenging

regulatory environment

and the role of the CFO

in it

US banks investing heavily

in global FP&A functions

in a continued response

to CCAR and augmented

reporting requirements

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CFO Themes

Page 1/5

Next update due: 19/9/2016

Summary of key themes and trends Jan - Apr 2016

Leathwaite: London | Zürich | Hong Kong | New York

Twitter @L3athwaite www.leathwaite.com

UK market:

Insurance

Helen Pickford is appointed UK Life CFO at

Zurich. Helen replaces Neil Evans who joins

Aviva as the Head of Financial Reporting for the

life business.

David Foster joins Pioneer Underwriters, the

underwriting group within Minova Insurance

Holding, as CFO. David was previously the

Deputy Corporate Controller at XL Catlin.

Alberto Minalo, CFO at Generali, is promoted to

General Manager.

Steve Jules joins Lloyd’s of London as Head of

Market Finance. Steve was previously a Director

in the insurance practice at PwC.

Banking

Francesca Hampton joins the Co-Operative

Group as Interim Finance Director. Francesca

was previously Director of Finance at MetroBank.

Carmen Herbstritt, Head of Regional Finance

Germany at Deutsche Bank is made CFO,

Switzerland, across all business lines.

Ekene Ezulike, CFO Infrastructure at Deutsche

Bank is made Chief Procurement Officer. His

previous role is being covered by Neil Smith.

Glynn Jones joins ANZ as the Head of Financial

Planning & Analysis for the markets business. He

was previously the CFO for Financial Markets at

Standard Chartered.

Paul Copson joins HSBC as the Global Head of

Product Control, replacing Richard Boyns who

moves internally.

Matthew Ristau joins State Street as Managing

Director, Accounting Policy Group, based in

New York. He was previously a Director in the

accounting policy and global valuations

oversight group at Deutsche Bank.

Ravi Vazirano, APAC CFO at Morgan Stanley,

has moved to become APAC COO, replacing

Arun Kohli who relocates to London as EMEA

COO. David Lui will become CFO APAC.

Alistair Webster becomes Head of Regulatory

Capital Policy & Oversight at JPMorgan. He was

previously the Head of Accounting Policy for the

corporate and investment bank globally.

Audit

Graham Mason joins Lombard Odier as Global

Head of Audit for the investment management

business. He was previously Regional Audit

Director at BlackRock and is replaced by

Rosanna Burr who moves into audit from the

business.

John Mitchell joins Standard Chartered as Head

of Audit, Finance having previously been with

Bank of America.

Charlie Wright is promoted to EMEA General

Auditor at Bank of America. He previously led

the regional team aligned to the banking and

markets business.

Valaria Locatelli joins Pioneer Investments as

Key global people moves and appointments:

CFO Moves

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Next update due: 19/9/2016

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Head of Internal Audit. Valeria was previously

Global Head of Audit for the wealth & asset

management business at HSBC.

Amanda Haines joins RBS as Audit Director,

Practices & Support. She was previously the

EMEA Audit COO at Morgan Stanley.

James Oates, Group Head of Internal Audit at

UBS is promoted to Group Head of Compliance.

He is replaced in the interim by Alan

Wehrenberg, currently UK Head of Compliance

& Operational Risk and Global Head of

Investment Banking Compliance & Operational

Risk.

Matt Burton joins Old Mutual as Head of Internal

Audit for the wealth business. He was previously

a Partner in the financial services internal audit

team at PwC.

Dean Barham joins Standard Chartered as COO,

Group Internal Audit. Dean previously held a

similar role at Lloyds Banking Group.

Paul Marshall joins EY as a Senior Advisor in the

internal audit and corporate governance

practice in London. He was previously the Chief

Auditor for franchise audit at Citi.

Karen Dignan joins Pension Insurance

Corporation as the Head of Internal Audit. Karen

was previously the Audit Director for wealth

management and group head office functions

at Old Mutual.

Ray Cockrem joins State Street as a senior vice

president in the EMEA audit team with

responsibility for supporting the asset servicing

business. He was previously Audit Director for the

asset management business at Old Mutual.

US market:

Anthony Sciarra moves to Enstar Group Ltd. as

the Global Head of Tax. He came from AIG as

Senior Tax Director, Head of Corporate Tax

Reporting & Analysis.

Mark Lubin moves to PwC as Banking and

Capital Markets Tax Director to focus on

planning and reporting complex restructurings,

M&A and other transactions involving US-based

global financial companies. He comes from BNY

Mellon where he was Managing Director - Head

of International Tax.

Sarah Youngwood moves internally to become

CFO of consumer and community banking,

succeeding David Owen at JPMorgan.

Youngwood was previously head of investor

relations. Owen was named Chief Administrative

Officer and oversees an office that supports the

company’s operations in 60 countries.

Jennifer Moss becomes the Managing Director,

Head of International Tax, at Blackrock. She

moves from Citi as Head of Domestic Tax

Planning and M&A Tax.

Thomas Jordan is the Director of Tax Accounting

and Compliance in the Americas for Credit

Suisse. He has come from Goldman Sachs as VP

- Tax Reporting Group.

Jack McGinnis is the Executive Vice President

and CFO at ManpowerGroup. He was the global

controller at Morgan Stanley.

Bill Shepherd moves from Bank of America

where he was CFO for Global Wealth &

investment Management to be Head of

Corporate Finance at Bridgewater Associates,

LP.

Andrei Magasiner, at Bank of America, is

CFO Moves

Page 3/5

Next update due: 19/9/2016

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Twitter @L3athwaite www.leathwaite.com

appointed Group Treasurer. He was previously

CFO for Global Banking & Markets.

Johnbull Okpara joins Morgan Stanley as Global

Head of FP&A. He joined from Capital One

where he was Deputy Controller.

European market:

Fabrizio Petrillo, CFO of AXA Winterthur moves

internally and assumes the role of Head of

Property & Casualty. The new CFO will be an

internal candidate.

Gary Hughes takes over the role as CFO at

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

of Financial Reporting. David succeeds Ravi

Vazirani, who progressed to become the APAC

Chief Operating Officer for Morgan Stanley.

Dagmar Maria Kamber Borens has left Singapore

where she was APAC CFO for UBS. Her

replacement is yet to be announced.

Amal Gupte is the new Singapore Country

Officer and Head of ASEAN for Citi. He took over

Michael Zink who is retiring. Amal was previously

APAC Head of Treasury and Trade Solutions.

Vishal Kapoor succeeds Amal as APAC Head of

Treasury and Trade Solution and was previously

APAC Head of Trade Sales.

Deborah Mur relocates to Singapore as Head of

Treasury Trade Solutions for Asia Industrials,

Energy & Power Sectors in Citi. She was

previously based in Paris as Western Europe

Head of Treasury & Trade Solutions.

CFO Moves

Page 4/5

Next update due: 19/9/2016

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Twitter @L3athwaite www.leathwaite.com

Regulation: Increased

demand for interim resource

to assist with the

implementation of IFRS9,

CCAR and FRTB

Optimisation, consolidation

and cost reduction: Major re

-structuring of Finance at

many global banks as they

seek to improve processes,

control and infrastructure

through the review of

shared service structures,

location strategy and cost

allocation

Audit: specialist interim audit

resource is in demand,

either to help upskill audit

functions (in some cases

following regulatory

recommendations), or to

lead specific audit reviews

Key interim CFO themes and trends Jan - Apr 2016

How can

Leathwaite assist?

With a global network of offices that are

constantly communicating with the CFO

market, Leathwaite is perfectly

positioned to advise clients on the future

demand cycle for talent.

London: +44 207 151 5151

Zürich: +41 44 214 6640

Hong Kong: +852 3152 2463

New York: +1 646 461 9100

For a discussion on how the talent

landscape is changing within this sector,

please call your regional Leathwaite

office.

www.leathwaite.com

CFO Interim

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Next update due: 19/9/2016