Bruno Nakata, US commodities trader Castleton Commodities International's Singapore-based executive director of light end products, is to leave. It is unclear what Castleton's plans are for naphtha and other light products, industry sources said.
Nakata was formerly head of naphtha in Asia for Trafigura and general manager of Marubeni.
President Donald Trump has tapped Jeffrey Gerrish to be acting president of the Export-Import Bank of the United States. Gerrish, who recently joined the Trump administration, will maintain his role at the Office of the US Trade Representative while taking the US Ex-Im role.
The designation by Trump as acting president does not require congressional approval. The agency has been without a quorum - needing at least three members of a five-member board - since late 2015 and is unable to approve loans of more than $10 million.
Commodities trader Trafigura has appointed Hadi Hallouche, its head of liquefied natural gas, as the company's head of oil in Asia, in addition to overseeing its gas business globally.
Hallouche, who joined Trafigura in 2011 as an LNG trader in Geneva, will transfer to the company's Singapore office. Martin Urdapilleta, the current head of Trafigura's oil division in Asia, has accepted a new role based in Latin America helping manage and co-ordinate the downstream assets of Pampa Energia, which are in the process of being acquired.
The Multilateral Investment Guarantee Agency has appointed Subramaniam Vishwanathan Iyer as Vice President and Chief Operating Officer. He joins MIGA from mining group Rio Tinto, where he served as Managing Director in India for the past three years.
He worked at the World Bank between 1993 and 2015 and held various positions of increasing responsibility, including Sector Manager, Africa Energy; Director of Sustainable Energy and Extractives; and Senior Adviser, Infrastructure, South Asia Region.
Insurer Miller has hired Rosie Denee and Oscar Moseley to boost its credit and political risks offering. Both will be based in London with a focus on political risk and structured credit insurance, specifically for financial institutions.
Rosie joins Miller from RKH Specialty and specialises in structured credit insurance for banks, while Oscar joins from Marsh, where he spent seven years in a broking role. He specialises in political risk and structured credit insurance for financial institutions.
Dutch development bank FMO has hired Peter van Mierlo as its new chief executive officer. He joins FMO from PwC where he was chairman of the board of management of PwC Netherlands and managing partner of PwC Europe. He succeeds Jürgen Rigterink, who left FMO earlier this month to continue his career at the European Bank for Reconstruction and Development.
Together with Linda Broekhuizen as chief investment officer, and chief risk & finance officer Fatoumata Bouaré, the appointment completes FMO's Management Board.
Former HSBC banker Philippe Khoury has joined Abu Dhabi National Oil Company as head of its new trading unit. Khoury was previously vice chairman of global banking for the Middle East, North Africa and Turkey at HSBC.
Macquarie Atlas Roads (MQA) has announced the appointment from May 1 of Graeme Bevans as Chief Executive Officer to head the independent management team at MQA as it splits from Macquarie. Current CEO James Hooke will remain with Macquarie.
Insurer Markel International has appointed Nicholas Davies as trade credit underwriter and senior risk analyst in Singapore. He will focus on developing Markel's portfolio across the region, in addition to managing existing broker and client relationships. He has over 20 years of experience in the financial services sector having started his career in banking and asset finance.
Euler Hermes has made a number of appointments to its Digital Agency. Marion Silvain and Charles Ruelle are taking on new roles as co-heads, while Nicolas Polaillon will lead the newly created Data Lab as Chief Data Officer. Valia Papadea will head a new structure, named the 'Continuous Productivity Improvement & Value Creation' team. And Max Cadena will become Virginie Fauvel's Head of Office.
US-based AvidXchange, a fintech provider of accounts payable and payment automation for midsize companies, has hired Dan Drees to the new role of Chief Growth Officer. He most recently led the fraud and risk solutions business at Fiserv.
Anette Eberhard, CEO of Denmark's export credit agency EKF, is to leave the post in October. She has been at EKF for more than 17 years and has been CEO for almost 11 years.
She is to join PKA AIP, the PKA investment branch for investments in private equity funds and co-investments, as CEO and managing partner.
Specialist asset manager Intermediate Capital Group (ICG) has announced the launch of a new European Infrastructure Investment team dedicated to investing in energy, transport, telecoms, environment and service industries infrastructure. Guillaume d'Engremont will become Managing Director and Head of European Infrastructure as of May. He will team up with former EDF Invest colleagues Jerome Sousselier and Ludovic Laforge who join as Managing Director and Associate Director.
Infrastructure equity provider Orion Energy Partners has opened an office in Houston, having partnered on five projects in the region in the past two years. Managing Director and Investment Principal Ethan Shoemaker will head up the new office.
Mayer Brown has hired banking and finance specialist Shri Maski and corporate expert Gordon Palmquist as partners at its recently opened Tokyo office from Ashurst and Shearman & Sterling, respectively.
Maski is experienced in banking and financing transactions, including project financings, and advises on complex projects to lenders, including export credit agencies in Europe and Asia. During his ten-year-stint at Ashurst, he was seconded at the Japan Bank for International Cooperation and the Export-Import Bank of Korea.
Herbert Smith Freehills has picked up four asset finance partners from Watson Farley Williams, including Siva Subramaniam and Samuel Kolehmainen from the latter's Singapore office.
Subramaniam has financing, operating leasing, tax leasing and structured finance expertise with respect to large ticket assets including aircraft, rolling stock, film, infrastructure, ground-handling and defence related assets. He advises airlines, lessors and banks.
Kolehmainen has experience in aviation financing and focuses on advising financial institutions and lessors. He has acted for clients on commercial financings, export credit agency financings, operating leasing, aircraft sales, asset-backed securitisations as well as portfolio sales and financings.
Rex Rosales and Jahnavi Ramachandran, who are both based in London, are also joining.
AI-powered identity verification provider Onfido has hired David Clarke as Chief Financial Officer. Clarke was most recently CFO of digital payments company Skrill Group, which he led through their €1.1 billion acquisition by Optimal Payments. Prior to this, Clarke held the position of CFO at Lebara Mobile, and spent a decade as CFO EMEA at PayPal. He will be based in London.
Australian Rail Track Corporation (ARTC) has appointed industry veteran Richard Wankmuller as CEO of the A$10 billion Inland Rail project to link Sydney and Melbourne with a fast freight line. Wankmuller will assume his new role from April 23.
Canada Pension Plan Investment Board (CPPIB) has replaced managing director Cressida Hogg as head of infrastructure division with the head of funndamental equities Scott Lawrence. Lawrence joined CPPIB from Onex Corporation in 2005.
California-based global agricultural company S&W Seed Company has announced the nomination of 38-year Cargill executive Alan Willits to its board of directors. Willits, who joined Cargill in 1980, is responsible for several businesses within the group, including Cargill's oil palm plantations, trading and merchandising in the Asia-Pacific region, and Cargill's grains and oilseeds supply chain businesses in North Asia, South Asia and Australia.
Richard Elman, the founder of troubled Hong Kong-headquartered commodities trader Noble Group, could be in line for a shock return to the company's board.
Noble, which has been scrambling to pull a restructuring deal together since the start of the year, said it would make Elman an executive director once more, after he resigned last month.
Paul Brough, chairman, said Elman's support was "uniquely important" and his experience and knowledge would "assist New Noble in the realisation of its potential and, once again, delivering value to all our stakeholders".
Noble's new restructuring plan would raise the stake for shareholders to 15pc from 10pc.
Mitsubishi UFJ Financial Group has hired Regina Bruni to its Transaction Banking's Trade Finance team as a Director. She will be based in New York City and be responsible for serving the international trade finance needs of MUFG's Asian corporate banking clients in the US and Japanese corporate clients in Canada. She previously served more than 16 years at J.P. Morgan.
Derek Chambers, the head of cocoa at Sucres et Denrees (Sucden), ended his involvement in front-line trading this month after a career spanning half a century. He's moved into an advisory role and the team he built is now led by Paul Davis, the former cocoa boss at Noble Group, who joined the Paris-based trader in 2016.
His exit comes at a challenging time for the market, with fewer and fewer traders serving a cocoa processing and chocolate industry that's consolidating. On top of Chambers, hedge funder Anthony Ward and Olam International's Amit Suri have also stepped back.
Chambers, 68, has been key to Sucden's profits in the past six years. As Archer Daniels Midland exited the market entirely, Olam focused on processing and Ward closed his flagship fund due to the rising influence of algorithms, Chambers succeeded trading the traditional way.
Elisabeth Bourqui has been chosen as Chief Operating Investment Officer by the California Public Employees' Retirement System (CalPERS) to lead the business and operations functions of the Investment Office. Bourqui is currently head of pension assets and liabilities management at ABB Group and will assume her new position on May 14. She replaces Wylie Tollette who rejoined Franklin Templeton in December.
The Development Bank of Southern Africa has appointed Boitumelo Mosako as chief financial officer. She previously served as the CFO at the South African Bureau of Standards and, before that, as General Manager: Finance at DBSA. Before that she worked at Triumph Venture Capital, Citigroup, and Ernest & Young.
Independent investment bank Greenhill Australia has hired the former Goldman Sachs metals & mining banker Campbell Cooper to work alongside a former colleague Richard Phillips who rejoined Greenhill last year as vice-chairman of the global business and co-head of Australia.
Former Barclays executive John Mahon is to become Britain's exports chief as ministers prepare to negotiate a string of trade deals in the months leading up to the country's exit from the European Union. Mahon, who until recently ran Barclays' corporate banking unit, has been recruited by Liam Fox's Department for International Trade to the new post of director-general for exports.
QRails, a US and UK-based fintech group offering processing services and other solutions to banks and the digital payments industry, has hired Naseer Nasim as its first chief executive officer. He joins the company from Baker Hill Solutions, a provider of risk management, CRM and business intelligence solutions to the financial services industry, where he was President and CEO. Previously, he was Account Processing President at Fiserv Credit Union Solutions, where he led the XP2 product line among others.
HSBC Holdings has appointed its Malaysia CEO Mukhtar Hussain to the newly created position of head of Belt and Road initiative in Asia Pacific. Hussain, who first joined HSBC in 1982, will start in his new role on July 1. HSBC, which made over 75% of its profits in Asia in 2017, is betting on China's drive to build a modern-day Silk Road to help grow its business.
In his new role, Hussain will spearhead key initiatives and relationships to grow HSBC's Asian Belt and Road business and drive collaboration across the bank's global businesses and international footprint.
Independent global debt and equity infrastructure investment specialist Hastings Funds Management, acquired by Northill Capital LLP from Westpac Banking Corporation in December 2017, has been rebranded as Vantage Infrastructure.
Winston & Strawn has hired project finance and mergers and acquisitions lawyer Richard Shutran as a partner in the New York office. Shutran joins from O’Melveny & Myers and has extensive experience of advising on transactions in Latin America.
The Asian Development Bank has hired Thomas Kessler, a long-time Swiss Re executive, into a newly created role of Principal Disaster Risk Insurance & Finance Specialist. He will be focused on the development and implementation of risk transfer instruments as part of the ADB's offering in Disaster Risk Finance and Sustainable Infrastructure Project Finance solutions.
Kessler originally joined global reinsurance firm Swiss Re in 1994 and worked across a number of regions, including Japan, New York and Zurich. Then between 2012 and 2015 Kessler was seconded to become the Deputy CEO of Vietnam National Reinsurance Corporation, before returning to Swiss Re and taking a Head of South East & East Asia Global Partnerships role at the firm.
UK-based investment advisory firm Willis Towers Watson (WTW) has hired Jamie Jeffers as divisional director - financial solutions, as part of its ongoing process to strengthen its financial services capabilities across the Asia Pacific region. He will be based in Sydney and report to Singapore-based Stuart Ashworth, managing director, financial solutions for APAC at WTW.
He joins WTW after spending over a decade at the Westpac Group, where he was most recently its sector head of insurance relationships for financial institutions in Westpac Institutional Bank.
Standard Chartered has revealed that Gautam Jain - currently Global Head, Digitisation and Client Access (DCA), Transaction Banking - has joined SC Ventures, effective immediately. He will help the bank's innovation effort, seek fintech investments and set-up new ventures. Gautam will continue to be based in Singapore and report to Alex Manson, who leads SC Ventures, Standard Chartered's new business unit.
Following Gautam's move, responsibilities for the DCA team will be split between Simon Fernyhough, Chief Operating Officer, Transaction Banking, and Alan Lin, Global Head of Cash, Transaction Banking, on an interim basis.
US-based Safe Banking Systems, which provides anti-money laundering and compliance solutions, has appointed Joseph Bognanno to the newly created position of Chief Innovation Officer. Bognanno will be based in the company's Mineola headquarters in New York, where he will report to David Schiffer, President & CEO. Prior to joining SBS, Bognanno served as SVP, Head of Global Risk Analytics at HSBC.
Glencore chief executive Ivan Glasenberg has resigned from his position as a director at Russian aluminum firm Rusal after the company was targeted by US sanctions. Glencore owns an 8.75% stake in Rusal - which produces around 6% of global aluminum supply - and is the largest buyer of its metal. The US Treasury sanctions targeted Rusal, among other entities owned by a number of Russian oligarchs with close ties to President Vladimir Putin.
K2 Management, a development and construction services provider to the wind and solar industry, has appointed Lars Andersen as President and Managing Director of its North American operations. Previously he has been CEO for US wind technology startup Ogin and President for Danish wind turbine manufacturer Vestas Wind Systems activities in China. He replaces Carsten Jensen who leaves the company after more than seven years.
The Real Estate & Private Markets (REPM) business of UBS Asset Management (UBS-AM) has appointed Perry Offutt as Head of Infrastructure Americas, effective from June. Formerly he worked as Managing Director of the North American Investment at Macquarie Infrastructure & Real Assets and Head of Infrastructure Banking for the Americas for Morgan Stanley.
Korea Investment Corporation has appointed Heenam Choi - previously an executive director of the International Monetary Fund - as chief executive officer. He succeeds Sung-soo Eun, who left the sovereign wealth fund last September to head the Export-Import Bank of Korea. It is not the first time that Choi has succeeded Eun in a top role. He became World Bank executive director after Eun resigned from the position to become KIC's CEO in February 2016.
John Cryan, the chief executive at Deutsche Bank since 2015, has been sacked and is replaced by the bank's co-deputy chief executive Christian Sewing. The co-head of corporate and investment banking, Marcus Schenck, is also leaving the company.
The California Public Employees' Retirement System (CalPERS) has appointed Real Assets investment manager Beth Richtman to the new position of Managing Investment Director of the Sustainable Investment Program. She will manage the team responsible for the integration of environmental, social and governance issues into investment decision-making.
Baker Botts has appointed oil and gas specialist Craig Vogelsang as a partner in its Global Projects Group in Houston. Vogelsang was previously a partner with Winston & Strawn in Houston for four years. Prior to that he spent over 12 years at Fulbright & Jaworski.
London-headquartered specialist insurer Markel International has unveiled a number of promotions in its rade credit, political risk and surety business. Adrian Jones has taken on the role of head of strategic development for Asia and the Middle East in addition to his existing senior underwriter role, while Leroy Almeida is appointed as head of the Middle East operation, which now incorporates marine and D&O product lines.
Simon Moon becomes head of risk underwriting, and Carl Titterton the head of commercial underwriting for the trade credit operation.
Nicola Marriage becomes head of political risk and Philip Amlot has been made head of trade credit and political risk, Americas.
Internationally, Arjan Van de Wall becomes global development director.
The government-owned Australian Rail Track Corporation has identified three sections of its 1700km Inland Rail project that it hopes to execute as public-private-partnerships (PPPs). The three sections, spread over 120km of track, are Gowrie to Helidon, Helidon to Calvert and Calvert to Kagaru. Tony Lubofsky, previously project director for the Metropolitan Train and Tram Refranchising project at Public Transport Victoria, has been appointed to to lead the project and determine the scope and the funding model for the PPPs.
Specialist insurer Markel International has appointed David Crozier to be president of Markel Canada. He will take up his position at the beginning of 2019, following the retirement of Karen Barkley at the end of the year. Crozier joins Markel from Everest Insurance Company of Canada, where he was president and chief executive officer, having previously been senior vice president, operations, for Economical Mutual Insurance Company.
An introduction to Argentina’s energy and infrastructure environment. The current and upcoming investment
opportunities in Argentina are presented via a discussion regarding the PPP and RenovAr programs, as well as energy and telecommunications projects
To kick off TXF Global 2018, we'll be bringing together senior developers, government personnel and investors to focus on project finance deals. Our dedicated Project Finance Day is a must for all infrastructure pro's!
The party of the year is back for 2018! TXF Global brings you all things Export & Agency Finance to the colourful city of Prague. Described as the fairy-tale city, TXF Global is here to make all your export finance dreams come true...
Whether you’re an insurance buyer, provider or simply looking to learn more about political risk and trade credit insurance as a risk management tool, this event is a unique opportunity to network with senior decision makers and discuss the key issues impacting the private insurance industry.