Business Places: City mourns Jain’s death, Citi reshuffles after Skarbek

Financial services leaders paid tribute to the former Deutsche Bank none Anshu Jain this week after his death from cancer.

Jain played a key role in shaping the German lender after the financial crisis. He was described by his peers as “one of the best bankers on Wall Street”, “a leader and visionary to the core” and “one of the best bankers of his generation”. Jain was 59 and is survived by his wife and two children.

Tributes were also paid to a veteran stock market investor and Indian billionaire Rakesh Jhunjhunwala, nicknamed the Warren Buffett of India, died on August 14 in the city of Mumbai. Prime Minister Narendra Modi led the tributes, describing Jhunjhunwala as “full of life, witty and insightful”.

Citigroupreshuffled the senior ranks of its UK investment bank following the departure of Jan Skarbek, co-head of banking, capital markets and advisory in the UK and Ireland. Skarbek resigned amid an investigation into alleged inappropriate comments to a female employee during a business trip. James Flemingits co-director, has been installed as the sole leader of the unit, with other senior business leaders in charge of additional management.

UBS contracted Little Sam as co-chairman of its UK investment banking business. Small, a specialist in the metals and mining sector, spent the previous five years as head of M&A for Europe, the Middle East and Africa at Wells Fargo. It represents another major hire at the Swiss bank, which also poached Manuel Esteve from Barclays to lead the European capital markets in April.

Fintech consulting company Royal Park Partners has hired Niccolò Gamaleri as a senior director. Gamaleri spent almost nine years a Barclayswhere he was a director within its financial institutions group in London.

Allianz Global Investors contracted Alex Bibani to join their themed equity team. Bibani, who joins from Sarasin & Partners where he managed a number of ESG and sustainable funds, he will take up his new role at the end of August. It will focus on AllianzGI’s equity thematic strategies, which are aligned with the UN Sustainable Development Goals, as well as various other sustainability strategies.

Axa Investment Managers hired Tim Banks as director of sales, part of the asset manager’s push into defined contribution pensions and insurance. Banks, who joins from Mercerwhere he was Head of External Sales for the UK Investment Solutions team, he will help grow Axa IM’s DC pension fund clients and third party insurers business in the UK.

Citi named Aveline San lead its operations in Hong Kong and Macau, as the US bank drives growth in its wealth management business in the region. San’s responsibilities will include fostering key client and regulatory relationships. San joined the bank in April 2019 and previously worked in senior management positions at UBS for 14 years.

Genesis Global Trading is laying off 20% of its 260-person workforce weeks after court documents revealed the crypto brokerage firm lent $2.4 billion to the bankrupt crypto hedge fund. Capital of three arrows.

CEO of Genesis Miquel Moro is also leaving the company after serving as CEO since early 2016. Genesis was named COO Here is Islam as its interim CEO.

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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!