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FSB Names US Federal Reserve’s Randal K Quarles as Chair

Mark Carney will step down from the role of chair at the Financial Stability Board (FSB) at the end of this month, making way for Randal K Quarles, governor and vice chairman for supervision at the US Federal Reserve, to take the chair for a three-year term running from December 2, 2018 to December 1, 2021. Klaas Knot, president of De Nederlandsche Bank, becomes vice chair and will succeed Quarles as chair from December 2, 2021 to December 1, 2024. The appointments were recommended by a specially convened FSB nominations committee and unanimously agreed by the plenary of the organisation.

FCA Seeks New Director of Innovation

The UK’s Financial Conduct Authority is on the hunt for a new Director of Innovation to head up its newly created Innovation Division. The role will have responsibility for driving the FCA’s engagement with technological innovation within the financial services industry while developing, new, innovative and data-led ways of regulating.

“This role will have a large impact on the FCA and the achievement of its objectives through helping build approaches in innovation, fintech, regtech, advanced analytics and data,” said the FCA in the job advert, which was posted in mid-November 2019.

LSE Group Names Tom Dunlap as CDO of Information Services Division

London Stock Exchange Group (LSEG) has named Tom Dunlap as chief data officer (CDO) of its Information Services Division, which includes global index provider FTSE Russell. The role is new and gives Dunlap responsibility for developing and leading the division’s global data strategy, overseeing a global team across multiple sites, engaging with key global clients, and working collaboratively across LSEG’s business, operations and technology areas to drive future growth.

Dunlap will be based in LSEG’s Fort Mill, South Carolina office and will report jointly to Mark Makepeace, CEO of FTSE Russell and group director of the Information Services Division, and Chris Corrado, group chief operating officer and group chief information officer at LSEG.

Makepeace comments: “I’m delighted to welcome Tom Dunlap to LSEG. Data is key to our continued future growth as a global information services business. With nearly 30 years of financial services industry experience across a wide range of leadership roles in data management and operations, Tom will further develop and grow our data business in line with increased client demand.”

Most recently, Dunlap was a senior consultant and advisor to Raymond James Financial. Before that, he spent 18 years with Goldman Sachs in a variety of operations and data leadership assignments, most recently as managing director of operations and global head of the firm’s enterprise data strategy.

LSE Group Names Tom Dunlap as CDO of Information Services Division

London Stock Exchange Group (LSEG) has named Tom Dunlap as chief data officer (CDO) of its Information Services Division, which includes global index provider FTSE Russell. The role is new and gives Dunlap responsibility for developing and leading the division’s global data strategy, overseeing a global team across multiple sites, engaging with key global clients, and working collaboratively across LSEG’s business, operations and technology areas to drive future growth. Dunlap will be based in LSEG’s Fort Mill, South Carolina office.

Dale Richards Joins Zelig Associates as Senior Advisor

Zelig Associates, a boutique investment bank specialising in fintech, has named Dale Richards as senior advisor. Richards will be based in Toronto and support the team globally. Richards has over 30 years’ experience in fintech, data and analytics as a senior executive, investor and consultant. His appointment will strengthen Zelig’s global reach and domain expertise in fintech, and support relationships with strategic acquirers, start-ups, and investors. Richards is the founder and managing partner of Island 20 Ventures, a strategy and advisory firm in the fields of alternative data, data management, big data, analytics, technology, business strategy and data monetisation.

Moody’s Names Former Oppenheimer Funds IT Lead Mona Breed as CIO

Moody’s has named industry veteran Mona Breed as chief information officer (CIO) with effect from October 15, 2018. Breed succeeds Tony Stoupas, who has led Moody’s IT organisation as CIO since 2010 and will remain with the company until the end of 2018. As CIO, Breed will lead Moody’s global technology infrastructure and programmes, and report to president and CEO Raymond McDaniel. She joins the company from Oppenheimer Funds, where she led IT infrastructure and drove innovation and transformation around the firm’s cloud computing, unified communication and collaboration, data centre operations and workplace technologies.

Moody’s Names Former Oppenheimer Funds IT Lead Mona Breed as CIO

Moody’s has named industry veteran Mona Breed as chief information officer (CIO) with effect from October 15, 2018. Breed succeeds Tony Stoupas, who has led Moody’s IT organisation as CIO since 2010 and will remain with the company until the end of 2018.

As CIO, Breed will lead Moody’s global technology infrastructure and programmes, and report to president and CEO Raymond McDaniel. She joins the company from Oppenheimer Funds, where she led IT infrastructure and drove innovation and transformation around the firm’s cloud computing, unified communication and collaboration, data centre operations and workplace technologies. She has also held senior technology roles at PricewaterhouseCoopers and Apollo.

McDaniel comments: “With nearly 30 years of experience embedding innovation and technology programmes at leading financial and professional services firms, Mona’s insight and expertise will be invaluable as we enhance our technology capabilities and leverage our investments.”

Financial Crime Veterans Join Arachnys Board

Arachnys, a provider of customer risk intelligence in the areas of Know Your Customer (KYC), Anti Money Laundering (AML) and Due Diligence (DD), has selected four new members to join its executive board in a bid to support the company’s growth strategy.

The new members are Nigel Broda, previously vice president of sales at NICE Actimize; Lynne Federman, former global head of AML compliance for State Street Bank; Wendy Conway Schmidt, a former litigator and global leader of the Business Intelligence Services practice at Deloitte Advisory until 2017; and M. Babar Shameen, formerly the global head of AML, KYC, sanctions screening and anti-bribery and corruption technology at Citigroup and currently managing partner at Sanctions Advisory.

Ed Sander, Arachnys’ president, comments: “I’m delighted to welcome such renowned and experienced senior advisors to Arachnys and am confident their insights will deliver significant enhancements to the company’s growth strategy.”

Sheena Clark Extends Remit with Role of Managing Director at BCC Group

Sheena Clark, founder of Financial Machineries, has extended her remit by partnering BCC Group and becoming UK managing director of the company.

At BCC, Clark is responsible for all global client activities around the group’s ONE Solution financial data enterprise platform and its market data cloud solutions. She will use her extensive market knowledge and regulatory expertise to work with business side clients and develop ideas with them for the ONE Solution.

In terms of its former partnership with CJC, Financial Machineries will continue, along with BCC Group, to work closely with managed service providers of cloud services. The company’s relationship with risk consultancy Iason Consulting also continues with Iason and BCC working together to make the former’s Secure Data Pooling Service (SDPS) available on the Amazon Web Services cloud. With SDPS in the cloud, banks can contribute to and improve the quality of pricing data required to calculate capital requirements for non-modellable risk factors (NMFRs) under Fundamental Review of the Trading Book regulation.

Arachnys Hires Steve Mann, Robert Lloyd-Watts and Bill Bennett to Build Sales

Arachnys has made key marketing and sales appointments, naming Steve Mann as chief marketing officer, Robert Lloyd-Watts as regional sales director for EMEA and APAC, and Bill Bennett as regional sales director, North America.

The company, a provider of customer risk decisioning solutions for Know Your Customer (KYC), Anti-Money Laundering (AML) and Extended Due Diligence (EDD), says the additions to the team are being made at an inflection point as financial services firms face increasingly complex investigatory and operational challenges. Ed Sander, Arachnys president, adds: “These highly experienced individuals will play a key role in delivering comprehensive customer risk decision solutions to our clients.”

Mann will focus on developing the Arachnys brand and driving demand for its financial crime solutions. He has over 25 years’ experience in B2B enterprise marketing, product strategy and brand development and has worked at companies including LexisNexis, SAP and Computer Associates.

Lloyd-Watts will focus on solving complex KYC and AML operational investigation requirements for financial institutions. He has over 20 years’ experience delivering financial crime solutions and most recently worked at BAE Systems on AML, KYC and fraud detection.

Bennett has over 20 years’ experience working with financial institutions to reduce risk and improve performance. Prior to joining Arachnys, Bill was at SAS where he delivered risk and compliance analytics solutions for global accounts.