THETRADETECH DAILY news
THE OFFICIAL NEWSPAPER OF TRADETECH 2021
PEOPLE MOVES NEWS UPDATE
Inés de Trémiolles has been named global head of trading at BNP Paribas Asset Management within its global trading function after more than 20 years with BNP Paribas . Formerly global head of the credit trading desk , she will now oversee the asset manager ’ s three trading hubs in Paris , Hong Kong and its US offices in New York and Boston .
Deutsche Bank has transferred responsibility for its investment and corporate bank business to its chief transformation officer , Fabrizio Campelli , amid sweeping leadership changes . From 1 May , the leadership reshuffle will also see the term of Deutsche Bank ’ s current chief executive officer , Christian Sewing , extended until April 2026 .
Natixis Investment Managers has appointed a new CEO after confirming its current chief Jean Raby will depart this month to pursue an opportunity outside of the firm after three years in the role . Tim Ryan will join Natixis Investment Managers as chief executive officer from 12 April , replacing former Goldman Sachs investment banker Raby who has been CEO of the $ 1.39 trillion investment manager since 2017 .
Citi has appointed its global head of FinTech and innovation for the markets and securities services division to digitise services for its entire institutional client base . Sandeep Arora has been promoted to chief investment officer and head of digital for Citi ’ s Institutional Client Group to drive the acceleration of the unit ’ s digital offering .
Buy-side
AXA Investment Management rolls out outsourced trading services
A gap in the market created by the squeezing of margins and the need for significant investment in execution and middle-office activities led AXA to offer outsourced trading .
AXA Investment Managers has started offering outsourced trading services to smaller asset managers as it becomes the latest player to enter the space following a supposed increase in demand .
A spokesperson at AXA confirmed the move , citing ongoing pressures on margins that has
Equities
Equities traders looked to high-touch trading in volatile market , JP Morgan survey shows
Recent survey by JP Morgan found that nearly a third of equities traders said their use of high-touch trading had increased during the pandemic .
Just under 30 % of equities traders increased their use of high-touch trading during 2020 , according to a recent equities survey by investment bank JP Morgan . The poll of 200 equities traders globally revealed that 28.1 % had changed their execution strategies to incorporate more high-touch trading while working from home between March and June last year . At the same time , 29.5 % of traders said their use of high touch blocks has increased since this time last year , while 47.5 % said engagement with high touch blocks seen smaller and mid-size fund managers increasingly look to outsource execution and middle-office functionality .
“ Due to the squeezing of margins and the need for significant investment in execution and middle-office activities , we see small or medium-sized players outsourcing these functions to larger players with this critical size ,” said a spokesperson from AXA Investment Managers . “ AXA IM is one of the important players , we have the critical size and have made the necessary technological investments to enable us to become an aggregator and to recover external mandates on execution and middle-office activities .”
The team of around 70 traders at AXA , with 10 dedicated to derivatives trading , is led by Yannig Loyer , head of trading and securities financing and derivatives .
The investment manager currently executes orders for its own funds and mandates , and other AXA Group companies . Its new outsourcing mandate will offer execution , operations and liquidity management including financing and the optimisation of cash and inventories .
“ Our critical size and our link with the AXA Group make us a first-rate player in most markets with traders present in several countries ,” added the AXA spokesperson .
remained the same as in previous years . The volatile market environment during the period of March and June 2020 , driven by the global pandemic as the industry shifted to working from home , saw many traders revert to high-touch trading strategies to source liquidity and gain more certainty in execution . Of those surveyed by JP Morgan , almost half said they expected the pandemic to have the greatest impact on the market in 2021 , and just under a third cited availability of liquidity as the greatest daily challenge .
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