by Baz Hiralal
Ian Hannam, chairman of capital markets at J.P. Morgan Cazenove Ltd., resigned Tuesday after the U.K.'s Financial Services Authority fined him £450,000 ($719,000) for what it called market abuse, or improper disclosure. Hannam said he will challenge the charge.
In the FSA's opinion, Hannam disclosed inside information in two emails sent in 2008 to a prospective client. The FSA contends the emails contained inside information relating to a possible offer for Heritage Oil plc, an existing J.P. Morgan client for which Hannam was the lead adviser. The FSA also said it accepts that Hannam did not set out to commit market abuse. Read the full story here.
Robert McCann, chief executive of UBS Wealth Management Americas and a member of UBS's group executive board, named Sam Molinaro, Mike Stewart, Bob Mulholland, Shawn Lytle and Brian Hull to an executive committee for the Americas, charged with reviving the group. Molinaro is chief operating officer of UBS Investment Bank; Stewart, global head of equities and head of investment banking securities, Americas; Mulholland, head of wealth management adviser group and investor solutions; Lytle, head of Americas global asset management; and Hull, head of Americas strategic clients and partnerships, a new role.
Presidio Group LLC, a capital advisory firm in San Francisco, named Peter Stein as a managing director and head of a new venture serving endowments and foundations. Stein was most recently with Pacific Alternative Asset Management Co., leading allocation of a $10 billion fund of hedge funds. Previously, he was vice president and chief investment officer for the University of Chicago from 2005 to 2009, and managing director of Princeton University Investment Co. from 2000 to 2005.
Michael Halloran returned to Pillsbury Winthrop Shaw Pittman LLP's corporate and securities practice as a partner in its Washington and Silicon Valley offices. Halloran previously practiced at Pillsbury from 1972 to 1990, when he left to be general counsel of Bank of America Corp., and from 1997 to 2006, when he left to become counselor to the chairman of the U.S. Securities and Exchange Commission.
Investment processor SEI Investments Co. appointed Stephen Beinhacker as global head of equities for its investment management unit, responsible for six equity portfolio teams, including the three in Oaks, Pa., and the teams in London, Toronto and Hong Kong. Beinhacker spent nearly 20 years at AllianceBernstein LP, first as a senior portfolio manager and later as chief investment officer for emerging markets growth. Before that, he managed a U.S. equity portfolio for Lehman Brothers Holdings Inc.
NYSE Liffe said Alan Whiting will succeed Hugh Freedberg as nonexecutive chairman of the global derivatives business on May 1. Freedberg, who was chief executive of NYSE Liffe from 1998 to 2009, will retire from the chairmanship.
John Bryan will not stand for reelection at Goldman, Sachs & Co.'s annual meeting. At 75, Bryan, who has been a director and a member of each of the standing committees of the board since November 1999, has reached retirement age. He is also lead director and chair of the board's corporate governance and nominating committee, which James Schiro will occupy. Schiro has been a director since May 2009 and chair of the audit committee since September 2010. Schiro was previously CEO of Zurich Financial Services Group and PricewaterhouseCoopers LLP.
Michele Burns, who has been a director since October, will be audit committee chair. Burns is executive director and CEO of the Retirement Policy Center, which is sponsored by Marsh & McLennan Cos. Earlier, she was chairman and chief executive of Mercer LLC.
Lois Juliber will also not stand for re-election to the board because of increasing time commitments elsewhere. She has been a director since March 2004.
In New York, Manatt, Phelps & Phillips LLP said Mark Peroff and Darren Saunders joined the firm as partners in the intellectual property practice. They were partners at Hiscock & Barclay LLP, where Peroff was co-chair of the branding, trademarks and copyrights practice.And in the next column:
Presidio Group, a capital advisory firm in San Francisco, named Peter Stein as a managing director and head of a new venture serving endowments and foundations.