Tag Archives: c & e executive news filters

Place of trade: New head of Citi in Germany, chairman of Barclays in England, advises Raymond James | Instant News

Citigroup is hired Peter Kimpel | as head of banking, capital markets and advisor to Germany and Austria. Kimpel is from Barclays where he leads its operations in Germany, having joined a lender two years ago from fintech firm Rocket Internet. Former Goldman Sachs deal-maker Kimpel will replace Stefan Wintels, who has several positions at the US bank including vice chairman of the global financial institutions group and vice chairman of Germany, whom he will retain. Investment banking fees have surged 20% in the country this year, according to Dealogic, and competition for senior deal-makers is heating up.

The ring-fenced British retail bank Barclays has a new seat as Sir Ian Cheshire announced his intention to step down after more than two years of work. It is a challenging time for retail banks, which must overhaul their businesses to offset the impact of the Covid-19 crisis and a prolonged new era of low interest rates. Cheshire said he could not dedicate the time needed to do this, and has given up control Crawford Gillies.

Global co-head for HSBC investment banking advisory and protection, Peter Enns, leaving the bank early next year to take a role outside the banking sector. Enns, which is based in Hong Kong, has not been replaced, with former Deutsche executive Adam Bagshaw – who joined HSBC earlier this year – heading the unit himself on a temporary basis. Hugo Heath, vice chairman of HSBC, global banking will work closely with Bagshaw, the bank said in a memo sent to staff seen by Financial News.

Middle market investment bank Raymond James plays a major role in the consumer and retail sectors by acquiring specialist boutique advisor Financo. The move will see 25 new dealmakers and Financo’s CEO, John Berg, will lead a new consumer team, which has doubled to 50 bankers.

French bank Societe Generale is working to increase its diversity credentials by promoting more women into senior roles. The bank has pledged to ensure 30% of all senior management roles are held by women in the next three years. This means that one-third of its top 200 positions – from executive roles to management positions across business lines and functions – will be held by women.

Andrew Lake has been promoted to partner in the Swiss Mirabaud Group asset manager. He was hired by the company in 2013 and currently leads its regular income team.

Aviva has given a name Doug Brown chief executive of the UK and Irish life insurance business. Brown joined from Canada Life and will land at Aviva in April next year.

Jim Esposito, who was appointed as one of the heads of Goldman Sachs’ investment banking division following Gregg Lemkau’s unexpected departure in November, is focused on talent in his new role. Goldman continues to attract the “best and brightest” he says Financial News, but competition is growing and the need to ensure banks retain their best people has become inseparable.

Christmas jumper on top, tracksuits below? Yes, it’s a virtual Christmas party. Prepare a mini wine bottle and put a smile on your face. Here’s how enjoy the best of excitement through Zoom.

Some were able to relax during the holidays after being appointed managing directors. Citigroup, Swiss credit and Barclays all have named their new MD class over the past week.

To contact the author of this story with feedback or news, email Paul Clarke


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Citi hires Peter Kimpel of Barclays as head of the new German investment bank | Instant News

Citigroup has hired a senior investment banker from Barclays in Frankfurt, as major investment banks continue to improve their ranking on the continent.

The US bank has appointed Peter Kimpel as head of banking, capital markets and advisor to Germany and Austria, according to internal memos viewed by Financial News.

Kimpel joined Barclays two years ago to head up its Germany operations of fintech firm Rocket Internet, where he was chief financial officer. Previously he spent 20 years at Goldman Sachs, most recently as a partner spanning financial institutions across Europe.

“Peter will provide senior strategic client coverage and will align the BCMA franchise with broader and corporate strategy through a strong partnership across ICG to deliver to our clients,” said a memo from Philip Drury, BCMA’s head of Europe, Citi Middle East. and Africa.

READ Citi has just been promoted 153 to MD – this is the name

Frankfurt has been the main battleground for a deal this year as banks shift more resources to the continent because of Brexit and also because Germany has seen investment banking costs rise throughout 2020. The bank has generated $ 2.6 billion in fees this year, according to Dealogic, an increase of 19%, with the country surpassing France as the second largest wallet for investment banks in Europe, after the UK.

Kimpel will take over from Stefan Wintels, who has held several senior positions. He will continue in his role as global co-head of the financial institutions group, vice chairman of Germany and vice chairman of the supervisory board of Citigroup Global Markets Europe AG.

To contact the author of this story with feedback or news, email Paul Clarke


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Holocaust Victims Deserve Their Day in Court | Instant News

On Monday’s anniversary of the Pearl Harbor attacks, the Supreme Court will hear arguments in two cases that provide an opportunity to protect America’s enduring role in ensuring justice for victims of the Axis powers.

The cases arose from Nazi Germany’s documented campaign to seize art and other property. Federal Republic of Germany v. Philipp brought by the heiress of a Frankfurt-based Jewish art dealer who was forced by Hermann Goering to “sell” a collection of medieval Christian devotional objects – called the Guelph’s Treasure, or Welfenschatz – to the state of Prussia in 1935. Goering gave the treasure to Hitler as a gift. Republic of Hungary v. Simon was carried by 14 Holocaust survivors seeking compensation for the confiscation of their property as they rode cattle cars to Auschwitz.

At issue is whether US courts should evaluate claims for expropriation on merits, as Congress has directed, or whether – as Germany and Hungary want – courts are free to refrain from doing so out of “international good”.

The answer is clear. As explained by the judges Verlinden BV v. Central Bank of Nigeria (1983), Congress has the prerogative and “indisputable” power to “decide, as a matter of federal law, whether and under what circumstances a foreign nation should agree to file a lawsuit in the United States.” In 1976 Congress passed the Foreign Sovereign Immunity Act, which mandated that “foreign nations may not be immune from the jurisdiction of the courts of the United States” when, among other things, claims involved “rights to property taken in violation of international law.” The Handling of Victims of the Holocaust in 1998, Congress unequivocally found that “the Nazi policy of plunder was an essential and motivating element in their campaign of genocide” —a clear violation of international law.

Congress has passed many specific laws to facilitate redress for victims of the Holocaust, including the 2016 Holocaust Acquired Art Restoration Act, which extends statutory restrictions for such claims. Congress clearly intends for Holocaust victims and their heirs to make these claims against foreign rulers in US courts.


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Germany Will Not Take Up Portugal’s European Union Split | Instant News

As European diplomats bargained over a threatened Polish and Hungarian veto that could block the painstakingly negotiated Covid bailout plan earlier in the year, Portugal’s Socialist Prime Minister António Costa took the opportunity to propose a plan to shrink and simplify the European Union.

To make Europe successful, he said, countries that truly care about European values ​​need to get rid of the infidels. The remnants will be a smaller but purer group of nations poised to build the kind of “deepening unity” that …


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German Prosecutors Investigate Ernst & Young’s Role in Wirecard Collapse | Instant News

German prosecutors are examining Ernst & Young’s role in the humiliated collapse of payments operator Wirecard AG, increasing pressure on auditing firms.

Munich prosecutors said they were evaluating a report by the state’s accounting watchdog about the company’s collapse this summer. The supervisor, known as Apas, conducted an investigation into the work of the audit firm’s local affiliate, EY GmbH, after Wirecard admitted that more than $ 2 billion in cash it said was held in bank accounts in his name did not exist.


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