People Moves Monday: A busy week for the buy- and sell-side

The past week saw appointments from UBS, BNP Paribas, State Street, Citi, Schroders, Optiver and a departure from Moon Capital Management.

UBS appointed Ian J Power as head of multi-asset trading, UK for its execution hub, along with several other hires into its London and Frankfurt-based outsourced trading teams. Power joins from Newton Investment Management, where he was responsible for trading both cash and derivatives instruments across all asset classes, with a bias towards fixed income​. Power also serves as head of UK execution, reporting to Chris Blackburn, head of EMEA for the Execution Hub. His appointment is part of a wider build-out of the UBS’ London and Frankfurt-based outsourced trading teams as the bank looks to ramp up its EMEA coverage.  

BNP Paribas has selected Brian Gallagher to replace retiring head of cash equities execution for EMEA, Antoine Bisson. Bisson has held the role for the last 10 years and has previously held positions at Deutsche Bank as head of execution services for EMEA and Morgan Stanley as its head of program trading for continental Europe. Gallagher, who has been based in New York with BNP Paribas Exane since 2019, has been promoted to the role and will be based in London, according to an internal memo seen by The TRADE. Before joining BNP Paribas, he served across various roles at Instinet and BIDS Trading and notably spent 14 years at Morgan Stanley in electronic trading and Delta One focused roles.

In a similar move, State Street selected its former head of FX sales, trading and research to replace retiring APAC head of global markets, Michele Hardeman. Henry Quek has been appointed as head of global markets for the region, replacing Hardeman who has spent the last 24 years with the bank. During her tenure with State Street, Hardeman served in several senior roles including as global head of foreign exchange sales, head of foreign exchange sales for the Americas and head of foreign exchange Australia. Quek assumes the role after serving at State Street for the last 18 years, most recently as head of FX sales, trading and research. Prior to his most recent role, Quek also operated as deputy general manager for State Street Global Markets’ Singapore branch.

Former execution trader at Trefoil Capital Advisers, Keith Clinker, was appointed as a vice president, portfolio sales trading at Citi. He leaves Trefoil after just five months, where he was responsible for execution trading for long and short equities across Europe, the US and Asia. Before Trefoil, Clinker spent nearly 14 years with UBS Investment Bank, joining its middle office in 2006 in a cash equities role and later becoming an associate director and director in portfolio trading and sales trading.

Moon Capital Management’s managing director and partner for global equity trading, operations and portfolio management departed for pastures new. Michael Pelliccione confirmed in a social media update that he has left Moon Capital after almost 10 years with the firm. Before joining Moon Capital in 2008, Pelliccione spent several years in operations focused roles at Morgan Stanley, JP Morgan Chase and Lehman Brothers. Pelliccione has not yet revealed where he will be moving to next.

Schroders appointed Darren Bustin in a newly created role within its solutions division, effective 1 September. Bustin brings more than 15 years’ investment experience to the role, having specialised in derivative investment overlays and derivatives trading. He joins from Royal London Asset Management (RLAM), where he served for over a decade, most recently as head of derivatives. In his new role Bustin will work the solutions team to develop and improve existing products and solutions across fixed income, structured equity and derivatives.

Electronic market maker Optiver appointed Anish Puaar to join its European corporate strategy team. He joins from Rosenblatt Securities, where he served as head of European market structure for the last seven months. Prior to that he spent just over seven years as a market structure analyst. Puaar began his career as a reporter for The TRADE in 2008, spending five years with the publication and later becoming its editor for just over a year in 2012. He later spent a year and a half at Financial News as a trading and technology reporter. Puaar’s new role at Optiver will initially focus on European equity market structure, including new products, regulation and exchange relationships.