City Moves: Who’s switching jobs in the Square Mile this week?
City PM‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email [email protected] to be featured.
Cazoo bolsters board after $7bn NYSE listing
After its $7bn New York Stock Exchange listing through its AJAX merger, UK online car retailer Cazoo has confirmed that a new non-executive director will join its board.
Moni Mannings is set to join the board as chair of the remuneration committee, alongside her non-executive director position, following the completion of the AJAX merger.
As a qualified solicitor, Mannings currently sits on the boards of Hargreaves Lansdown, EasyJet and Investec Bank.
Also the deputy chair of children’s charity Barnardo’s, Mannings has held senior positions with law firms Dewey Ballantine, Simmons & Simmons and Clifford Chance.
The merger is expected to be completed in the third quarter of this year when Mannings will take up her position on the board.
“Her extensive board experience at large consumer facing, publicly listed businesses will be a great asset to us as we continue to transform the car buying experience for consumers across the UK and Europe,” Cazoo founder and CEO, Alex Chesterman, said.
Following the transaction, the Cazoo Board will consist of chair and CEO Alex Chesterman OBE, CFO Stephen Morana, audit chair Duncan Tatton-Brown, and Dan Och, Viscount Rothermere, David Hobbs and Anne Wojcicki as non-executive directors.
“What Alex and his team have achieved so far is very impressive and the opportunities ahead for Cazoo are enormous. I am looking forward to helping to shape and be part of Cazoo’s mission,” Mannings added.
Plenitude hires ex-HSBC financial crime head
Financial crime, risk and compliance specialist firm Plenitude has hired a new senior advisor from HSBC this week.
Former HSBC UK head of financial crime compliance and money laundering reporting officer, Allan Clare, will help Plenitude execute its business strategy to keep up with the evolving financial crime landscape.
“Allan will play a key role in terms of guiding the business and providing strategic advice which will be invaluable,” managing director, Alan Paterson, said.
“This builds on our recent appointments of Barbara Patow and Shahmeem Purdasy and further demonstrates the calibre of our senior leadership team at Plenitude.”
Clare is the latest in a string of senior hires, after the firm expanded its technology offering.
With decades of financial crime risk and compliance experience, Clare will lead financial crime functions and mitigation programmes.
“Effective financial crime risk management and compliance is critical to making our society and economy safer,” Clare said, adding that he looks forward to “helping the firm continue to grow, bringing my insights and experiences to bear.”
Prior to HSBC, Clare held positions at Barclays and Nationwide Building Society.
The new senior advisor also has knowledge of the insurance market after being director of risk, financial crime & security at RBS Insurance Group.
PwC strengthens its sports offering
PwC has appointed a new director to its strategy practice, focusing on the firm’s sports clients.
Clive Reeves joins from PwC’s Switzerland firm, where he worked in the sports business advisory practice as a senior manager.
Bringing 13 years of sports industry experience, Reeves has held senior roles within the English football world, advising the English Premier League, Premiership Rugby, English Cricket, the Australian Football League and the NBA.
The new director is set to lead the firm’s deals, strategy and value creation offerings to its sports industry clients.
Advising sports organisations on strategy, Reeves will also deliver commercial due diligence services to investors.
“Through combining my industry expertise and business advisory experience, I look forward to working with our clients to navigate a path through today’s unprecedented challenges and to build stronger organisations for the future,” Reeves said.
Santander shuffles board and executive teams
Santander has confirmed today that its CEO will step down towards the end of this year to become the head of investment platforms at its Spanish division, Banco Santander.
Under his new position, former CEO Nathan Bostock will report to group executive chair, Ana Botin. Meanwhile, the process to appoint his successor is underway.
Responsible for overseeing all investment platforms, owned or partly owned by Santander and managed by third parties, Bostock will focus on high-return businesses.
“On behalf of the board, I would like to thank Nathan for his exceptional leadership of Santander over the last seven years. Our strong results are testament to the success of the strategic actions he has taken,” Santander UK chair, William Vereker, said.
The bank’s retail and business banking CEO, Susan Allen, will also step down from the board after six years at the bank.
Stepping down with immediate effect, Allen will exit the business completely later this summer.
Vereker continued, adding that he “would also like to pay tribute to Susan for her service to the bank. She has worked tirelessly on behalf of our customers, our communities and our colleagues, not least over the past year in response to the Covid pandemic.”
Deloitte Legal grows pensions law offering
Outside of the City, Deloitte Legal has appointed a new partner and head of the firm’s pensions law offering.
Based in Manchester, Claire Bell will build the firm’s pensions law practice in the UK, combining its legal advisory services with its pensions capabilities.
Advising clients in pensions law for over 18 years, Bell joins Deloitte Legal from DLA Piper UK where she was a partner.
“Claire’s in-depth knowledge of pensions law is exactly what we’ve been looking for and she will help bridge the gap between our legal and pensions businesses,” managing partner for Deloitte Legal, Michael Castle, said.
Bell, who won mentor of the year at the Women in Pensions Awards 2020, has acted for corporates carrying out transactions, restructuring their groups, or managing their pension liabilities.
“The team at Deloitte Legal is expanding rapidly and it is fantastic to contribute to providing a full service offering to clients,” Bell said, adding that “there is real value in Deloitte offering legal advice alongside pensions consultancy, actuarial, administration and investment advice.”