Cboe Global Markets appointed Fredric J Tomczyk, a member of its board of directors, as chief executive officer following the resignation of Edward Tilly. Tomczyk assumed the role of chief executive immediately, replacing Tilly who resigned from the company following the conclusion of an investigation into his conduct, launched in late August. Before assuming the role of chief executive, spent four years on Cboe’s board. Previously in his career, he served as president and chief executive of TD Ameritrade Holding Corporation for eight years and as vice chairman of TD Bank Financial Group. Prior to joining TD, he was president and chief executive of London Life and London Insurance Group.
UK-based investment bank Peel Hunt appointed former head of electronic and program trading and sales at Numis Securities, Nishad Vallonthaiel, to head up its own electronic trading division. Prior to joining Numis, Vallonthaiel also served at Bloomberg Tradebook, Execution, Canaccord, C.I.M Banque, Banca Commerciale, and Lugano Espirito Santo Investment Bank. Also appointed to the electronic trading team at Peel Hunt alongside Vallonthaiel is Vinesh Chhaya, who joins the unit as a senior sales trader. Chhaya joins the bank after also previously serving at Instinet, Liquidnet, HAITONG, Canaccord Genuity and Numis Securities.
Bjørn Sibbern was appointed global head of exchanges at SIX, effective as of 1 January 2024, overseeing the Swiss and Spanish exchanges and the digital exchange, SDX. Sibbern is currently executive vice president and president of European Markets at Nasdaq and will also sit on the SIX executive board as part of the role. Sibbern has been active in the capital markets space for more than two decades and has worked in various roles for Nasdaq as well as other exchange institutions. As president of European markets as Nasdaq he currently oversees the Nordic and Baltic regions. According to an internal memo seen by The TRADE, Roland Chai – currently executive vice president of marketplace technology at Nasdaq – will lead the ETS business following Sibbern’s departure next year.
Redburn Atlantic made several new hires from the buy- and sell-side to bolster its newly merged business, as revealed by The TRADE. Brandi Bailey was appointed to the sales trading team based in London. She spent the last decade at UBS and previously in her career served at Morgan Stanley, HSBC and Bernstein. Alongside her appointment, Steven Priestley was selected to join the sales trading team in New York after spending the last seven years at Credit Suisse and Truist Securities. Also recently appointed at Redburn Atlantic is Daniel Kroff, who has been hired into the execution architecture team. Kroff has extensive algo strategy development experience having previously served at QUOD Financial.
Citi made a number of cuts to it cash equities trading business in London, according to two people with knowledge of the matter. David Lackenby, an event driven sales trader based in London, has left the bank, alongside Mark Brodie, a trader who also specialises in event driven strategies, the people said. Tracey Brown, director and a high touch sales trader covering pan-European markets, has also departed the business. Lackenby joined the bank two years ago from broker Market Securities. Prior to this he worked at financial services firm Cantor Fitzgerald for thirteen years. Brodie held positions at brokers BTIG and United First Partners before joining the US bank two years ago. Elsewhere, Brown had worked at Citi for sixteen years. Prior to this she served at Deutsche Bank.
UBS also cut a number of positions in its cash equities business in London following the forced takeover Credit Suisse, according to two people with knowledge of the matter. Roles were cut in sales and research, the people said, who spoke on condition of anonymity as the matter is private. While the exact number of people affected isn’t known, one banking source said the cuts were somewhat inevitable following the takeover of Credit Suisse. UBS declined to comment.
The World Federation of Exchanges (WFE) named Boon Chye Loh, chief executive of the Singapore Exchange (SGX) and Jos Dijsselhof, chief executive of SIX, as chair and vice chair respectively following a unanimous vote at a general assembly. The WFE board is comprised of 18 leaders from around the world, and both Chye Loh and Dijsselhof will serve two-year terms, the WFE has confirmed. Alongside the incoming chair and vice chair, John McKenzie, chief exec of TMX Group, has been named working committee chair.