Godfrey, who did not return calls, is known to believe that managers need to be transparent with costs and fees to show they are not taking advantage of their clients. In May, he gave his support to the Better Finance campaign by Guillaume Prache, former European head of passive manager Vanguard, to achieve a better deal for investors.
Before joining the Investment Association in October 2012, Godfrey was communications director at Phoenix Group, before which he spent more than a decade at the Association of Investment Companies the trade body for the UKs investment trust industry.
The Pensions Trust
The pension fund for the UKs charitable sector has appointed two former staffers at the National Grid Pension in-house manager, Aerion Fund Management, which was bought by Legal amp; General Investment Management in 2015.
The pound;7 billion Pensions Trust has appointed Emmanuel Bocquet, the former head of alternative investments at Aerion, as a portfolio strategist and John Steel, the former COO of the company, as an investment operations manager.
The pair announced their new roles on LinkedIn and the Pensions Trust confirmed the appointments. Bocquet had worked at Aerion since 2005; Steel had been with the pension scheme since 1998, having taken a career break at the end of 2012 until joining the Pensions Trust in May.
As the in-house investor, Aerion Fund Management managed 75% of the National Grid Pension scheme and had more than pound;17.5 billion in assets until its takeover by Lamp;G at the end of 2015. The power company had announced its intention to sell off the pension scheme in May 2015 and had targeted liability-driven investment specialist managers as potential suitors.
Bocquet and Steel have joined the Pensions Trust as the fund looks to expand its internal team.
The former head of investment banking at Jefferies in France is setting up his own London-based advisory firm after leaving the US investment bank eight months ago.
Jean-Philippe Verdier, who left Jefferies last September, was one of a number of managing directors to leave the US investment banks European arm over the past 12 months. He was replaced by Jerome Peltier, previously UBSs head of investment banking in France.
Verdier, a former advisory banker with Greenhill amp; Co, registered Verdier amp; Co with Companies House in February. His firm will offer independent corporate finance advice to CEOs, entrepreneurs, corporates and private equity funds, according to his individual LinkedIn profile.
Verdier told FN in an email that he set up the firm after receiving calls from the chief executive of a French biotech firm and the head of a large information and communications technology business, adding that both were looking for independent advice on flexible retainer arrangements.
Elaborating, Verdier said the work entailed structuring and hands-on assistance on a rights issue, running a beauty parade contest and some corporate Mamp;A director responsibilities.
He is currently the firms only staff member. The lack of colleagues at this stage means that there are mandates I would not take on yet, he said.
The European chief executive of Instinet, the electronic agency brokerage that is now the focus of Nomuras scaled-back equities operation in the region, has decided to leave after more than four years in charge.
Adam Toms, who will turn 40 later this year, will depart in the coming weeks to pursue other interests, according to a statement by the firm.
He will be replaced by Richard Parsons, the brokers head of European sales and trading an appointment that is subject to regulatory approval from the UKs Financial Conduct Authority.
Toms took on the CEO role in 2012, replacing industry veteran Richard Balarkas, having previously held senior electronic trading roles at Lehman Brothers and later Nomura. He told FN that he was really proud of what the team has achieved but said the time is right to do something else and lots of opportunities are being created by new technologies and changes in regulation.
His decision to step down comes with Europes trading markets on the cusp of wholesale change as a result of the revised Markets in Financial Instruments Directive and other regulations.
bull; And the best of the resthellip;
Cantor and Psigma former heads launch hedge fund
The former European chief executive of US brokerage Cantor Fitzgerald and a senior fund manager at Psigma have teamed up to launch a London-based fund manager. Vermeer Investment Management will initially focus on global equities, according to James Rowsell, who will take the role of chief executive. Tim Gregory, the former head of global equities at Psigma, left the fund manager in February. Vermeer gained approval from the Financial Conduct Authority in April. The manager is still currently in its launch phase. Rowsell left the European arm of US brokerage Cantor Fitzgerald in mid-2014.
Deloitte creates 20 new partners in its financial advisory group
Accounting and consulting firm Deloitte named 20 new partners to its financial advisory group, effective June 1. Anna Samanta and Chris Shuttleworth will be based in Switzerland at the firms Zurich office, while the remaining 18 are located across the UK. Five of the UK promoted are female: Anita Aul, Jacquie Beanland, Katie Jackson, Victoria Smith and Caroline Ward. The remaining new partners are Ben Bell, Sam Blackie, Ben Collet, John Cooper, Baber Din, Duncan Down, Will Geer, David Lane, Michael Magnay, Biren Shah, Nick Soper, Chris Wildsmith and Nick Wood.
FCA appoints Butler director of supervision for the investment, wholesale and specialists sector
UK Financial Conduct Authority has appointed Megan Butler as its permanent director of supervision for the investment, wholesale and specialists sector. Butler has held the role since July 2015 on secondment from the Bank of England. Qualified barrister Butler, a three-time FN100 Woman who has made the list each year since 2013, joined the Financial Services Authority, the FCAs predecessor body, in 2000 after holding various roles at the London Stock Exchange. Her roles at the FSA included running enforcement law and policy before moving into supervision in 2008, when she became head of the team overseeing the UK operations of major investment banks. She switched to the Bank of England in April 2013 and worked in Prudential Regulation Authority senior team as the executive director of its international banks directorate.
Freshfields Bruckhaus Deringer makes Ford Jacob FIG co-sector leader
City law firm Freshfields Bruckhaus Deringer has announced Valerie Ford Jacob as co-sector group leader of its financial institutions group (FIG). Ford Jacob, who is based in New York, is also currently the co-head of the global capital markets practice. She advises a wide range of clients on both corporate and financial legal matters, including a diverse range of securities offerings, corporate governance and securities regulation. Ford Jacob joins current FIG co-sector group leaders and partners Christoph Gleske and Claire Wills.
Funding Circle co-founder takes a step back
A co-founder of Funding Circle, one of Europes billion-dollar fintech startups, has stepped back from his day-to-day activities at the company. Andrew Mullinger who set up the London-based marketplace lender with Samir Desai and James Meekings in 2010 handed over his most recent responsibilities for risk management in May. Desai, Funding Circles chief executive, said Mullinger would remain on a number of our company boards and continue to act as an adviser to the company. Prior to co-founding Funding Circle, Mullinger worked at banks Nomura and Citigroup, and accountancy firm EY in regulatory and risk management roles.
Goldman Sachs grabs restructuring banker from Morgan Stanley
Goldman Sachs has made a new appointment in its London restructuring business, hiring a managing director from Morgan Stanley to join the team. Clinton Ray is on garden leave before joining Goldman Sachs in August, according to people familiar with the matter. At Morgan Stanley he worked in the capital structure and restructuring advisory group, according to his LinkedIn profile. He reported to Ben Babcock, an ex-Lazard and Merrill Lynch banker who joined Morgan Stanley in 2008 as head of restructuring for Europe, the Middle East and Africa. At Goldman Sachs, Ray will report to New York-based Roopesh Shah, head of the global restructuring finance and advisory division.
Hogan Lovells adds capital markets heavyweights to Asia practice
Law firm Hogan Lovells has announced that Sammy Li and Stephen Peepels have joined its capital markets practice in Hong Kong as partners. The pair are recognised leaders in Asias capital markets: Lis practice focuses on IPOs and secondary offerings on the Hong Kong Stock Exchange, and Peepels practice includes both debt and equity financing transactions as well as private equity and Mamp;A transactions. Li joins from Paul Hastings and Peepels from DLA Piper.
Jupiter appoints new head of its Japan Income fund after incumbent departs
Dan Carter has become lead manager of the Jupiter Japan Income fund, according to a statement by the asset manager. Carter, who was deputy manager of the fund, replaces Simon Somerville, who is leaving Jupiter after 11 years. He has been lead manager of the Jupiter Japan Select Sicav fund since 2013. Carter joined Jupiter in 2008 as an analyst on the Far Eastern equities team. He joined from Odey Asset Management where he was a fund manager on the Japanese equities team, prior to which he was at Edinburgh-based Baillie Gifford, where he was an investment analyst for both the Japanese equities and UK large-cap equities teams.
Kames Capital adds to its high-yield team
David Ennett is joining Edinburgh and London-based Kames Capital to lead its high-yield team. He will arrive from Standard Life Investments where he was head of European high yield and manager of the SLI Higher Income and European High Yield funds. Ennett will report to David Roberts, head of fixed income at the pound;57.8 billion asset manager, from September 2016. He will also take on co-management of the Kames High Yield Bond and the Kames High Yield Global Bond funds alongside current co-manager Phil Milburn, who will be returning to Kames in Q3 2016 following his period of absence due to ill health.
Nordic Capital co-managing partner steps down
After six years as Nordic Capitals co-managing partner, Joakim Karlsson will move to become head of the firms Swedish activities and lead on industrial sector investments as the firm consolidates its move to a sector and theme-based investment style. Kristoffer Melinder, who had shared the role with Karlsson since 2010, becomes sole managing partner at the European buyout firm. Karlsson said he made the decision to relinquish the role of co-managing partner to pursue his interests in deal-making and to work more closely with portfolio companies, as well as to simplify the management structure of the firm.
Stifel Europe sees Bragg depart after reshuffle
Simon Bragg, the head of Stifel Nicolaus Europe, will leave the company later this year in a management reshuffle. Bragg joined Stifel in 2014 when the US wealth manager and investment bank bought Oriel Securities, a UK broker co-founded by Bragg in 2002. After taking some time out, Bragg returned to Oriel in 2013 following a tough few years for the broker. A former banker at HSBC, Cargill Financial Markets and Hoare Govett, Bragg was tasked to grow the business following Stifels takeover. Ronald Kruszewski, chairman and chief executive of Stifel, said: [Simon] was instrumental in the process of integrating the Oriel business into Stifel and for that I am truly thankful.
Tenzing bolsters team with four hires
New private equity player Tenzing has made four hires to its team, as the firm looks to push into UK lower mid-market dealmaking. The firm, which was set up in 2015 by investors Guy Gillon and Rob Jones, has hired Sean Williams as a non-executive director, Simon Stevenson as origination and talent director, Milan Kellner as investment manager and Natalia Mann as operations manager, according to a statement. Williams led the UK Mamp;A practice at advisory firm PwC, where he worked on the buyouts of Car Trawler, Arrow amp; Ball and JAC Travel. He will provide sector expertise and strategic advice to the firm, according to the statement. Stevenson worked in a number of executive search roles before founding recruitment company Stevenson James and will work with advisers and support portfolio companies with recruitment, according to the statement. Kellner joins from the Mamp;A team at advisory firm EY and will assist in deal origination, while Mann will provide operational support to the firm.
TPAI names Alastair Sword as new global head
Tullett Prebon Alternative Investments, the alternative investments arm of interdealer broker Tullett Prebon, has appointed Alastair Sword as the alternative divisions global head. He will lead a team of 10 focusing on the placement of illiquid alternative assets. Since its formation in 2009, TPAI has developed significant experience in LP to LP fund transfers, managed auction processes, as well as direct asset divestments across the hedge fund, private equity and real estate space. Sword joins from Roubini Global Economics, where he was head of sales, prior to which he was a managing director at Bank of America Merrill Lynch in both London and Singapore.