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by Baz Hiralal
Irene Tse, chief investment officer for North America at JPMorgan Chase & Co., is leaving the firm to pursue entrepreneurial ventures. Tse was part of the office overseeing the trades of "London Whale" Bruno Iksil, trades which led to a multibillion-dollar loss. Achilles Macris and Javier Martin-Artajo of the investment office also left the firm on the heels of the loss.
Tse has been helping to implement changes in the investment office since the loss was disclosed in May. Tse worked at JPM since 2011. She was previously a portfolio manager at Duquesne Capital Management and a partner at Goldman, Sachs & Co., where she was co-head of U.S. interest rates. Bloomberg News, citing people with knowledge of the matter, said Tse will start a hedge fund focused on global economic trends.
GLG Partners recruited Jon Mawby as a senior portfolio manager on the global credit and convertibles team. Mawby was a lead portfolio manager at ECM Investment Management. He joined ECM in December 2005 from Gartmore Investment Management, where he was a portfolio manager and trader in the institutional European credit group. Before that, Mawby was a credit fund manager at Morley Fund Management and a portfolio manager at Aviva Investors. He started his career at Goldman, Sachs & Co. in its international equities division.
Cantor Fitzgerald & Co. opened an office in San Juan, Puerto Rico. Joaquin Iglesias, formerly of Oriental Financial Services and Carlos Ramos, formerly chief investment officer of the Puerto Rico Retirement System Administration, will head operations for the office. They serve institutional clients in fixed-income sales and trading.
Iglesias was previously a senior vice president at Lehman Brothers Holdings Inc. and Barclays Capital, where he helped develop the firm's institutional platform. Ramos was previously a vice president in the institutional client group at Lehman/BarCap, where he helped structure the firm's operations in Puerto Rico.
Real estate investment manager Clarion Partners opened a London office and hired Jeroen Verheijden as a senior vice president. He will head client business in the U.K., the euro zone and the Middle East. He was a client portfolio manager at Aviva Investors.
Valerie Keating, CEO of Barclaycard, and Ashok Vaswani, chief executive of U.K. retail and business banking, joined Barclays plc's executive committee.
Vaswani's role, which Antony Jenkins held before becoming CEO in August, will change. Vaswani will be responsible for retail and business banking products and services, globally, and Curt Hess, CEO of Europe retail and business banking, will report to him.
Société Générale SA named Giovanni Ortolani as senior banker for private investment banking, Geneva. Ortolani was previously chief country officer for Italy since 2007.
In addition, Renaud Billard was appointed relationship manager in the U.K. for private investment banking.
Robert Mohamed recently joined Finance House PJSC as chief investment officer. From May 2008 to July 2011, he was co-head of investment banking, debt and equity capital markets at National Bank of Abu Dhabi. From November 2009 to May 2012, Mohamed was regional chairman for the Middle East, Far East and Africa with the International Capital Markets Association. Earlier, he worked at Arab Banking Corp. and spent 11 years with Deutsche Bank AG.
GE Capital made Ralph Betz head of its leveraged finance team in Germany. Betz joins GE Capital from the Bank of Ireland, where he was head of acquisition finance, based in Frankfurt.
Midmarket private equity firm NorthEdge Capital LLP appointed Phil Frame as a senior investment executive, based in Manchester, England. Frame was most recently assistant director at Altium Capital.
Cowen Group Inc. agreed to acquire securities lending firm KDC Securities. At closing, KDC will operate as Cowen Equity Finance Group, based in New York. Financial terms were not disclosed.
Rory Zirpolo, head of the securities lending business, will be managing director and head of the equity finance group and will report to Cowen's co-heads of equities, Tom O'Mara and Dan Charney.
KDC is the broker-dealer subsidiary of alternative investment manager Kellner Capital LLC.
On this morning's Deutsche Telekom AG deal announcement:
John Legere, currently president and CEO of T-Mobile USA Inc. , would be president and CEO of a combined T-Mobile, MetroPCS Communications Inc. J. Braxton Carter, currently chief financial officer and vice chairman of MetroPCS, would be CFO. The combined company would operate T-Mobile and MetroPCS as separate customer units, led by Jim Alling, currently chief operating officer of T-Mobile, and Thomas Keys, currently president and COO of MetroPCS, respectively.
Clippings from the next column:
-- Marex Spectron Group names John Wall, former global co-head of investment banking at UBS, as group CEO.
-- Robert W. Baird & Co. hires Cowen and Co. LLC's Owen Hart as a managing director in its mergers and acquisitions practice.
-- Kleinwort Benson hires Andrew Warren as head of business management and Jonathan Hibbs as private wealth management support team leader.
-- Rashid Bin Ali Al-Mansoori becomes CEO of Qatar Exchange.
Midmarket private equity firm NorthEdge Capital LLP appointed Phil Frame as a senior investment executive, based in Manchester, England.
