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Movers & shakers: Dec. 19, 2014

by Baz Hiralal

John E. Waldron's rise continues. Goldman, Sachs & Co. just added Waldron to the firm's management committee and named him as co-head of investment banking, alongside Richard Gnodde and David Solomon.

Waldron joined Goldman in 2000, becoming a partner in 2002, when he started co-leading the media and entertainment group. From 2005 to 2007, he was co-head of leveraged finance. After that, he was based in London, where he was first global co-head of the financial sponsors group and then led investment banking services(IBS)/client coverage, of which he was most recently global head.

Waldron recently advised News Corp. on its $950 million acquisition of listing site operator Move Inc. That deal closed on Nov. 14. He also advised Twenty-First Century Fox Inc. on its withdrawn $75 billion offer for Time Warner Inc.

Waldron takes his latest role from vice chairman John S. Weinberg, who will give up day-to-day management but will still advise his core banking clients. Weinberg has spent more than 30 years at Goldman, which his father (John L. Weinberg) and grandfather (Sidney Weinberg) once ran.

Weinberg is a member of the management committee and the firmwide client and business standards committee. He has been co-head of investment banking since 2001. He is also co-head of the firmwide recruiting committee. Previously, he was co-head of investment banking for the Americas and, from 1997 to 2000, was co-head of IBS. Weinberg joined Goldman in 1983 as a corporate finance associate and also worked in mortgage finance. He became a partner in 1992.

State Street Corp. appointed Michael F. Rogers as president and chief operating officer. Jay Hooley will continue as chairman and CEO. Rogers joined the firm in 2007 following State Street's $4.5 billion all-stock acquisition of Investors Financial Services Corp., where he was president for six years. Since then, Rogers has been head of the investment servicing business in the Americas and research and trading business globally. Since 2010, Rogers has been a member of the management committee. In addition to his current responsibilities, Rogers will be responsible for information technology, global operations and the global exchange business.

State Street appointed of two executive vice presidents to its management committee: Gunjan Kedia, who heads the investment servicing capabilities in the Americas for mutual fund, insurance and institutional clients; and Wai Kwong Seck, head of the global services and global markets businesses, Asia Pacific.

Kedia, who reports to Rogers, joined State Street in 2008 from Bank of New York Mellon, where she was head of global product management. Prior to that, Kedia was a partner at McKinsey & Co.

Seck, who reports to Joe Antonellis, vice chairman and head of international, joined State Street in 2011 from the Singapore Exchange, where he was chief financial officer for eight years.

KPMG LLP named Stephanie Schnabel as head of corporate development, sourcing deals and joint ventures and working on divestitures. Schnabel was managing director of corporate development at Accenture in New York, responsible for the firm's global acquisition and divestiture activities. Before arriving there in 2001, she was a principal at Catterton Partners in Greenwich, Conn., where she spent five years. Schnabel was also a senior associate at Corporate Decisions Inc. and an associate at Braxton Associates from 1987 to 1991, working from Boston, London, Paris and Los Angeles.

On May 7 at its AGM, UBS intends to nominate veteran banker Jes Staley to the board. He will then be nominated for the risk committee. UBS stated in April that Rainer-Marc Frey, a director since 2008, would not run for re-election due to other commitments. Staley has been a managing partner at BlueMountain Capital Management LLC since February 2013. Prior to that, he worked at JPMorgan Chase & Co., including as CEO of the investment bank, CEO of asset management and head of private banking. He began his banking career at Morgan Guaranty Trust Co. of New York in 1979.

Staley also serves on the boards of the Robin Hood Foundation, Code Advisors, the board of trustees of Bowdoin College, the investor advisory committee on financial markets of the Federal Reserve Bank of New York and is a member of the Council on Foreign Relations.

Turnspire Capital Partners named four operating partners: Joseph Bondi, Mark Borseth, Neil Minihane and Val Shtraks.

Bondi spent more than 25 years at Alvarez & Marsal, where he was a managing director and co-head of the U.S. turnaround and restructuring practice. Borseth was most recently chief financial officer of Constar International.

Prior to Constar, he was CFO of Eclipse Aviation and spent more than 20 years at 3M Co. Minihane was the principal and founder of Turn Works LLC, where he spent more than 15 years working with companies that were mature/underperforming. Prior to that, he was a vice president of operations with Heico Cos., which was a turnaround private equity firm.

Shtraks is a co-founder and managing partner of Bath Authority LLC (d/b/a DreamLine).

The long list of government officials heading to the private sector continues to gain names. The latest: Venable LLP announced that six-term Pennsylvania Republican Congressman Jim Gerlach (since 2003) will join the firm as a partner in the legislative and government affairs group in Washington. In the 113th Congress, Gerlach served on the House Ways and Means committee and its subcommittees on health and select revenue. Prior to Congress, Gerlach served two terms in the Pennsylvania House of Representatives and two terms in the Pennsylvania Senate.


KPMG LLP named Stephanie Schnabel as head of corporate development, sourcing deals and joint ventures and working on divestitures.