People moves and key promotions in securitisation

This week’s roundup of securitisation job swaps sees Nadia Calviño chosen to become head of the European Investment Bank (EIB). Elsewhere, the Structured Finance Association welcomes seven industry leaders to its new board of directors, while a Mayer Brown partner and structured finance specialist has joined Jones Day as partner in its London office.

Spain’s deputy prime minister Calviño has won the race to be named the next head of the EIB. Calviño has been chosen by the EU’s 27 finance ministers over – among other candidates – European Commission vice president Margrethe Vestager. She will take up the role from 1 January after Werner Hoyer steps down from the position on 31 December.

Calviño was promoted to Spain’s deputy prime minister in July 2021 and has been the government’s minister for economy and business since June 2018, after leaving her role as director general of the budget department at the European Commission. She joined the European Commission in 2006, having previously spent 12 years in the Spanish Ministry of Economy.

Meanwhile, European Commission NPL advisory panel member Eric Cloutier has left his position as a partner in KPMG’s European Central Bank office to join Mazars. Cloutier joins the professional services firm’s London office as a partner and global head of banking regulations. He joined KPMG in 2015 from Alvarez & Marsal, having previously worked at SNS Reaal and ABN Amro.

Mayer Brown partner Chris Arnold is to join Jones Day as a partner in its financial markets practice, based in London. Arnold has a particular focus on derivatives and structured finance and leaves Mayer Brown after 13 and a half years. He previously spent eight years at Allen & Overy. The development comes shortly after Jones Day’s Boston-based partner Matthew Martel was elected to the board of directors of the Structured Finance Association.

The SFA has also appointed FICO’s Joanne Gaskin, Kroll Bond Rating Agency’s Rosemary Kelley, Loomis Sayles & Company’s Jennifer M Thomas, Lord Abbett’s Loritta Cheng, Norton Rose Fulbright’s Patrick Dolan and RBC Capital Markets’ Richard Lawrence as new board members.

Man Group managing partner and global head of CLOs and loans Dan Robinson has joined DWS Group as head of alternative credit for EMEA, as part of the asset manager’s drive to “accelerate” its private credit footprint. Robinson leaves Man Group after a year and a half with the business. He was previously chief investment officer at CIFC Asset Management and head of liquid credit at Apollo Global Management, prior to which he spent 12 years at Oaktree Capital Management.

Angel Oak Capital Advisors has hired Sumit Sasidharan from Ares Management as md and head of commercial real estate. He will lead the firm’s existing CRE platform, as well as focusing on the expansion of its permanent and bridge-loan financing activities and overseeing its presence in the CMBS market. Sasidharan leaves his position as md at Ares after six years with the firm and previously worked at Annaly Capital Management, CWCapital and Fitch Ratings.

ING has named Marco Klein director in sustainable finance, within its wholesale banking group. Based in Frankfurt, he was previously a director in the firm’s structured solutions group. Before joining ING in July 2017, Klein worked at Intesa Sanpaolo, Sal Oppenheim and Sparkasse Saarbrücken.

NPL Markets has recruited Alexandre Paixao as senior advisor, with the remit of helping the firm to expand its franchise in Brazil. Paixao has over 20 years’ experience in merchant banking, principal finance and investment banking, including structured credit transactions, in Latin America and Europe. Among his previous roles, he was director, Brazil head – structured credit LatAm at Deutsche Bank.

Stefan Rolf has founded ROLF Advisory, a structured finance, treasury and debt restructuring advisory business. He was previously global head of securitisation and private debt at IQ-EQ, based in Amsterdam, which he joined in August 2022. Before that, Rolf worked at ING and VW Financial Services in senior securitisation-related roles.

Liberty Specialty Markets has promoted Tom Russell to senior underwriter – financial risk solutions, focusing on portfolio trades and structured credit. He was previously lead underwriter – portfolio solutions, within the financial risk solutions team, having joined the firm as senior underwriting assistant in November 2016. Before that, Russell was an underwriting assistant at Munich Re.

And finally, Canadian energy company TC Energy has promoted Arpan Patel to director in its structured finance and corporate development team, based in its Chicago office. Patel joined the business in 2021 and transitions from the role of director in the energy origination and development team. He was previously svp for renewable energy finance at Bank of America Merrill Lynch and had spells at Exelon, SunCoke Energy and Threshold Power.