Agency broker Newedge expects to announce some senior hires in the coming weeks after its global head of OTC clearing, John Wilson, stepped down from his role.
Wilson had headed up OTC clearing for Newedge since February 2013 but left the firm this month.
Newedge confirmed to theTRADEnews.com that Wilson had been working for the firm on a contract basis and he chose not to renew the contract.
It is currently in talks to beef up its OTC derivatives clearing team in Europe and hopes to make an announcement within the next month. Additionally, the firm is hoping to hire a senior execution specialist in the coming weeks.
Prior to joining Newedge, Wilson was global head of OTC derivatives clearing at Royal Bank of Scotland and has also worked in venture capital and on the buy-side, working as a programme director at Henderson Global Investors.
He has also performed consulting work for Goldman Sachs and Baring Asset Management.
Wilson is currently focusing on his consulting business, Mpaua, providing advisory services for banks, brokers and buy-side firms on matters regarding clearing and trading and the consequences of international regulatory reform.
Newedge’s acquisition by Société Générale was completed in May 2014. The French bank already owned a 50% stake in the brokerage alongside Credit Agricole and bought the entirety of its share.