28 Sep 2010
Over a quarter of this year’s list of the 100 most influential women working in Europe’s financial markets ply their trade at investment banks. Among the advisers and traders in this list you will also find names from the world of regulation, which continues to impact the banking industry acutely.
• HenriettaBaldock
Head of European financial institutions group,BofAMerrillLynch
Baldock has played an integral role in the restructuring of UK banks and recapitalisations across Europe. She advised Lloyds Bank on its acquisition of HBOS and its fundraising efforts and advised the Irish government. This year, her team has been a bookrunner on bond issues byLloydsand Dexia, equity issues by UniCredito and Jupiter, and is advising Nedbank on its $6.4bn acquisition by HSBC.
• DanielleBallardie
Vice-president, equities electronic trading, Barclays Capital
Ballardie says the best piece of advice she has been given is to listen, not talk. She joined BarCap last year to run Liquidity Cross, the bank’s fledgling dark pool, and has been charged with making it a market leader in Emea. Before BarCap, she spent eight years at the London Stock Exchange on product development for Baikal, technology sales and preparing the LSE for Mifid.
• ElgaBartsch
Chief European economist,MorganStanley
Bartsch’s research focuses on the eurozone, particularly the monetary policy of the European Central Bank. She is a member of the ECB shadow council, an elite group of economists that comments on policy, and has written extensively on the sovereign crisis and its effect on the economy, different asset classes and the future of the euro. Bartsch also spearheadsMorganStanley’s global research effort on the economics of climate change.
• MagdaleneBayim-Adomako
Partner and head of bank finance, White & Case
A former in-house counsel at UBS, Bayim-Adomako returned to the rigours of a law firm in 2000 and now heads the bank finance department in White & Case’s capital markets group. Her speciality is acquisition finance, and she recently advised Kuwaiti investment bank Global Investment House on its $1.7bn restructuring. Her clients include Deutsche Bank, UniCredit, WestLB, RBS, ING andJPMorgan.
• AllegraBerman
Vice-chairman of global capital markets and global head of sovereign, supranational and agency fixed income, UBS
Berman’s clout as a bond originator has secured her inclusion in every FN100 Women list since its inception in 2007. Since joining UBS in 2001, she has risen through the ranks, becoming vice-chairman of global capital markets last year as well
• NatalieBlyth
Global head of consumer group, global banking and markets, HSBC
A qualified lawyer with a degree in biochemistry, Blyth joined HSBC’s UK coverage team in 2007 from Deutsche Bank and was promoted to her current role last year. Her team has advised on several big deals this year, including food group Kraft’s $22.5bn takeover of Cadbury,ReckittBenckiser’s £2.8bn merger with condom maker SSL and the L’Occitane IPO.
• Sharon Bowles
Member of the European Parliament and chairman of the European economic and monetary affairs committee
Bowlessays the best piece of advice she has been given is to always read out loud something that is difficult to understand. She will have grown accustomed to the sound of her own voice in her role chairing the European economic and monetary affairs committee, which is responsible for regulation, the free movement of capital and payments, competition rules, tax provisions and the functioning of the euro. In short, her influence over the financial services industry reaches far and wide.
Dubbed a “quiet heroine” for her work on the controversial Alternative Investment Fund Managers directive,Bowleswill play an important role in shaping European financial regulation on capital requirements, market abuse and so calledMifidII. She has also lobbied hard for bankers’ bonuses to be paid in contingent capital rather than cash or shares – legislation of which she is particularly proud.
Bowlesis a former patent lawyer with a doctorate in semiconductor research from Oxford University. She moved into politics in 1992. For her retirement, the 57-year-old is “planning a forest garden for vertical growing of food”.
• CharlotteBurkeman
Co-head of prime brokerage, Emea, UBS
Burkeman started her career in Goldman Sachs’ capital introduction team before joining UBS in 2003 as part of the Swiss bank’s push to break Goldman Sachs’s and Morgan Stanley’s stranglehold over European prime brokerage. In 2006 she moved to the US as UBS’s global head of capital introduction, and was promoted to co-head of US prime brokerage sales. She returned to London in May to take up her current role.
• AnnCairns
Head of the financial advisory group, Europe, Alvarez & Marsal
Although there are not many senior women in the restructuring world, Cairns believes “women enjoy fixing things and can be very resilient in tough times”. She certainly has displayed these traits, working on the largest bankruptcy in history as the managing director in charge of the European arm of the world’s top restructuring specialist.
Cairns joined Alvarez & Marsal in September 2008, and was immediately thrown in at the deep end, leading the team in charge of the Chapter 11 process for the European assets of Lehman Brothers Holdings. She has been busy disposing of chunks of the business and keeping some divisions running until markets improve.
She has another team working with the Irish government as loan valuers for the National Asset Management Agency, which was set up last year to take property loans from Irish banks to help them clean their balance sheets, and another team in Iceland working on Kaupthing’s derivatives portfolio.
Cairns previously worked as chief executive of transaction banking atABNAmroand spent 15 years at Citigroup. She has a first-class degree in mathematics, a master’s degree in statistics and is a fellow of the Royal Statistical Society.
• ElenaCiallié
Partner, Ondra Partners
Ciallié joined boutique Ondra at the beginning of last year focusing on capital structure and debt advisory. She has since advised on deals including the €60bn balance sheet restructuring for a French bank and debt restructuring for Gartmore related to its flotation. Ciallié previously spent 10 years advising on debt capital solutions atGoldmanSachs, becoming a managing director in 2004.
• MargaretCole
Managing director of enforcement and financial crime, Financial Services Authority
The UK’s coalition government is planning to abolish the FSA by 2012, possibly passing its enforcement responsibilities to the Economic Crime Agency. However, this monthColewas promoted to the board of the FSA and her tough stance on market misbehaviour has kept her in the headlines. She has also been busy hiring this year to ensure she has adequate resources at her disposal to wheedle out financial criminals.
• BronwynCurtis
Chairman of global research, HSBC
Curtisis a high-profile economic commentator, who often appeares on television, and manages HSBC’s global research operations and portfolio including economic, fixed income, foreign exchange, equity and climate change products. She sits on various industry committees and was awarded an OBE for services to business economics in 2008. She has previously worked for Bloomberg, Deutsche Bank and Nomura.
• JillDauchy
Managing partner, Newstate Partners
Dauchy has spent more than 10 years advising governments and central banks on restructuring sovereign debt, skills that are in high demand right now. Last year, she helped set up advisory firm Newstate, and has already advised the governments of Iceland and the Republic of Congo. She speaks French and Russian fluently and previously spent six years at UBS Warburg in New York and London.
• Susan Dean
Chief financial officer, Emea and global institutional clients group, Citigroup
Deanhas helped steer Citigroup through the financial crisis, reducing expenses, assets and headcount. As CFO of Citi’s global institutional client group, she holds the purse strings to about a third of Citigroup’s global revenues, and as CFO in Emea she has responsibility for more than 1,300 staff in 54 countries. She sits on various business and governance committees for the bank, including its diversity initiative Citi Difference.
• Inesde Dinechin
Global head of human resources, Société Générale Corporate and Investment Banking
Since joining the French bank in 1991,de Dinechin’s focus has been in market-facing roles, culminating in the role of global head of fixed-income structured products. However, in July last year, she changed track, taking on an HR role and sitting on the bank’s executive committee. Developing her grasp of the bank’s activities will stand her in good stead for a job at group level.
• MarisaDrew
Co-head global markets solutions group, Emea, co-head of debt advisory and restructuring group, Credit Suisse
Drewjoined Credit Suisse First Boston in 2003 to build its leveraged finance origination group into a market leader. Last November, she advised Liberty Global on the ground-breaking acquisition financing of Unitymedia, the first big European M&A deal financed by a high yield bond.Drewis the founder of the Competitors’ Diversity Forum and a member of the C200, a global body for women executives.
• IsabelleEalet
Global head of commodities,GoldmanSachs
Ealet’s team has maintainedGoldman’s lead in commodities despite challenges from a raft of new entrants.Goldmangenerated revenues of $11.8bn from fixed income, currencies and commodities in the first half of this year, an increase of 48% on the same period in pre-crisis 2007, of which a significant chunk will have come from commodities trading. Ealet joinedGoldmanin 1991 as an oil trader, becoming a partner in 2000.
• SarahEdgington
Head of interest rate, currency and credit distribution for Emea,MorganStanley
Edgington ranks amongMorganStanley’s most senior women in Emea, and was promoted to her current role last December. A former head of foreign exchange and FX sales in Europe, she joined Morgan Stanley in 2002 from Goldman Sachs, and is responsible for overseeing sales and marketing to the firm’s hedge fund, sovereign wealth fund, real money and corporate clients in the region.
• CatherineFlax
Chief executive of commodities for Emea, JPMorgan
Flax studied economics and worked in various roles before getting a taste for commodities as a researcher for Williams Companies. She then moved toMorganStanleyand UBS, joiningJPMorganin 2005. The bank has been increasing its presence in commodities over the past three years and bought Bear Energy’s gas and power trading operation in March 2008 and RBS Sempra for $1.7bn this year.
• ElizabethGilbert
Co-head of capital markets, Resolution Operations
Gilbertis one of several high-profile hires byCliveCowdery, founder of acquisition vehicle Resolution, in his quest to buy undervalued financial services assets. Her experience as co-head of the European financing group for financial institutions atGoldmanSachsis vital as Cowdery lines up new deals following the acquisition of life and pensions business Friends Provident for £1.9bn and Axa’s life division for £2.8bn.
• Jennifer Hill
Group director, strategy and corporate finance, Royal Bank of Scotland
Hill is responsible for RBS’s disposal programme, encompassing both the EU mandated sales of WorldPay, Sempra, Directline, Churchill and UK branches, as well as non-core business sales of the Asian retail and commercial network, aviation finance and others. She and her team are working with several banks on multiple sales simultaneously. She spent 10 years atGoldmanSachsin roles including chief operating officer of European investment banking.
• JuliaHoggett
Head of financial institutions group flow financing business, Emea, Bank of America Merrill Lynch
Hoggett joined BofAMerrillLynchin Juneto spearhead the bank’s provision of senior unsecured and secured bond financing to financial institutions. She was previously head of Depfa Bank, which was one of the top five banks in Ireland by assets, and before that JP Morgan. After graduating she was a research scholar at the Centre for History and Economics at Kings College, Cambridge, focusing on
sub-Saharan Africa.
• Susan Kilsby
Chairman of Emea mergers and acquisitions, Credit Suise
An M&A veteran, Kilsby joined First Boston, which was later bought by Credit Suisse, in 1980, and became chairman of European M&A in 2007 focusing on senior level coverage of global corporations. This year Kilsby has worked on deals including the restructuring of Coca-Cola Enterprises, advising Fortune Brands on the sale of its golf business and Coca-Cola Hellenic on a €500m special dividend to shareholders
• Angela Knight
Chief executive, British Banking Association
Knight has worked hard to defend the banking industry against the most vitriolic criticism from politicians, regulators and the public for a generation. She has consistently argued in favour of a level regulatory playing field for banks across the world rather than a system which disadvantages the UK. Knight was an MP from 1992 to 1997, serving as economic secretary to the Treasury and introducing the £2 coin.
• TiinaLee
Head of UK strategy, Deutsche Bank
Last year,Leeadvised HM Treasury on UK bank recapitalisations when she was Deutsche’s European head of financial institution capital origination. InApril, she was rewarded for her efforts with a newly created role working on Deutsche’s UK strategy with the bank’s UK chief executive,ColinGrassie.Leesays the best advice she has been given is to “always ask for it; if you don’t, someone else definitely will”.
• KaraLemontSportelli
Head of interest rate, inflation and foreign exchange structuring, Emea, BNP Paribas
LemontSportelliis BNP Paribas’ most senior woman in fixed income, and her name is in the hat for a new global role. She has been integral to new business development in rates and FX since she joined the French bank in 2004 from CIBC World Markets. She is also chair of the French bank’s internal women’s network which she helped to launch last year.
• LesleyLynn
Head of institutional recovery management, Emea, Citigroup
Lynnjoined Citibank straight out of Oxford University in 1977 and set up Citigroup’s institutional recovery management unit in 2001. An experienced restructuring specialist, she is responsible for Citigroup’s classified portfolio and its distressed exposures in Emea totalling more than $100bn. She was a founding member of the Citi Women network in 1998 and as a Liveryman of the Guild of International Bankers mentors promising young bankers.
• RebeccaManuel
Joint head of Emea debt syndicate and interim global head loan syndicate, Royal Bank of Scotland
Manuel, who joined RBS six years ago, expanded her remit in March to take on global loan underwriting on an interim basis. She has worked on several high-profile deals this year, including providing $10.5bn of financing for miner BHP Billiton’s $40bn acquisition of Potash, a €1.8bn credit facility for Philips, and underwriting $1bn in loans to BP. Manuel is also on the board of the Loan Market Association.
• Saba Nazar
Co-head global financial sponsors group, Nomura
Nazar was promoted to her current role last December, becoming Nomura’s most
senior client-facing female investment banker. Born and raised in Pakistan, she has worked with private equity clients for the past 10 years. In February, she lead Nomura’s team advising and financing KKR’s £955m acquisition of Pets at Home, the largest underwritten buyout since the financial crisis began. She previously worked at Lehman Brothers andGoldmanSachs.
• LisaRabbe
Head of public policy, Emea, Credit Suisse
Rabbe joined Credit Suisse last month after 18 years atGoldmanSachs, where she engaged the bank and its clients on public policy, regulatory and political issues. Her areas of expertise include wholesale capital markets regulation, EU competition policy, international investment and trade restrictions, and EU energy and environmental issues. Before her time atGoldman, she worked in the corporate finance practice at law firm Sullivan & Cromwell.
• LeonieRyan
Head of global product issuance, Nomura
Not many investment bankers are brave enough to take a career break after 10 years in the industry to do charity work. ButRyandid just that before joining Lehman Brothers in 2006. She says her close encounter with the post-tsunami humanitarian crisis in Thailand helped her maintain her perspective through the global financial crisis and the trauma ofLehman’s collapse.
In October 2008,Ryanwas appointed chief operating officer of liquid markets at Nomura for Europe, the Middle East and Africa and the US, running 12 equity trading desks with 270 staff. The business was trading again by February 2009, just 14 weeks after Nomura boughtLehman’s European arm.Ryansuccessfully spearheaded Nomura’s drive to become the top-ranked bank by market share on the London Stock Exchange, and was promoted to head of global product issuance inApril.
In her new role, she will be working to diversify Nomura’s revenues from pure trading to asset management-style revenue streams, with managed accounts, structured derivatives, Ucits and exchange-traded funds platforms.
She adheres to the mantra “a career in banking in not a sprint but a marathon”, and has run marathons and swum the English Channel for charity.
• MahnazSafa
Co-head of debt capital markets, Emea, UBS
Safa firmly believes time is precious and it is her duty to spend it wisely. Judging from her rapid ascendancy at UBS, she has wasted no time at all. Last September, she was named co-head of debt capital markets for Emea at UBS, her fourth promotion in just two years, having joined the Swiss bank in 1992.
This year, Safa has played a pivotal role in the bank’s debt capital markets recruitment drive, hiring across securitisation, bond origination, derivatives and emerging markets.
UBS is eighth in Dealogic’s DCM bookrunner league table for the year so far, up from 16th over the same period last year. She has also been integral to the creation of the insurance and pensions industry group within UBS’s fixed-income, currency and commodities division, which provides derisking solutions to pension schemes.
Safa takes an active role in recruiting and mentoring female talent, and is a board member of UBS’s women’s network, All Bar None. As for the best advice she has been given, she says: “Be yourself and treat others as you would have them treat you.”
• CarolineSilver
Managing director, Moelis
Investment banking boutique Moelis pulled off a coup in July last year when it recruited Silver, a financial institutions specialist with more than 20 years of experience in the industry. She said moving to the boutique was “by far the most exciting thing” she has done in her career.
Since joining Moelis, Silver has already worked on Man Group’s acquisition of GLG, the restructuring of LCH.Clearnet and the initial public offering of Delta Lloyd Groep on Euronext.
She took up her new role after just a year as vice-chairman of Emea investment banking at Bank of America Merrill Lynch. Before that, she worked atMorganStanleyfor 14 years and spent seven years atDeutscheMorganGrenfell.
Silver said the best piece of advice she has ever been given has been to put herself “in the other person’s shoes. Often in investment banking, people forget to turn the tables round and imagine what’s going through the mind of the other side on a deal”.
She is involved with the charity Concern Universal, which is working on a microfinance initiative in Ghana, and wants to write a book when she retires.
• KarenSimon
Global co-head of financial sponsors,JPMorgan
A 27-yearJPMorganveteran,Simonbecame head of the bank’s financial sponsors group for Emea and Asia in July 2007 and was promoted again to the global role in 2008. In March, she worked on the €759m initial public offering of German cable company Kabel Deutschland, the biggest private-equity-backed IPO since May 2008, followed in April by the €1.3bn flotation of Spanish travel group Amadeus IT.
• DeniseWyllie
Co-chief operating officer, Emea, India and Asia,GoldmanSachs
Wyllie joinedGoldmanin 1994 as manager of foreign exchange operations in London. She worked in roles in energy, commodity and derivatives operations before taking on her current job in 2007 and becoming a partner in October 2008. She chairs the bank’s operations risk committee and is co-chair of its European diversity committee. Before joiningGoldman, Wyllie worked for Citigroup and was a brewer forWhitbreadBeer.
• SanazZaimi
Co-head of global fixed income, currencies and commodities sales, Bank of America Merrill Lynch
Thanks to the acquisition ofMerrillLynch, Bank of America has tripled its FICC assets in the past three years. Zaimi joined a resurgentBofAMerrillin January after seven years atGoldmanSachsand is one of only five women ranked in Financial News’ FN100 list of the most influential people in Europe this year. She graduated fromParis’ Sorbonne University in 1993 with an MPhil in finance.
Investment News Repository 