Zurich-based independent technology and service provider for investment solutions Leonteq has appointed Yann Besnard, head of white-labelling and platform development, to the executive committee of the firm.
In addition, the board of directors has appointed Daniel Cangemi to the new role of chief risk officer and a member of the executive committee. The appointments will come into effect on 1 January 2015.
The firm's chief executive Jan Schoch said that the separation of the risk control from legal and compliance activities "underlines the importance of both functions to our business."
Besnard has been head of white-labelling and platform development, which will be renamed to Business Innovation, at Leonteq since 1 October 2014. Prior to this, he was the company's head of structuring and head of derivative index and flow trading.
Before joining Leonteq in 2008, Besnard worked at Merrill Lynch as a senior equity derivatives index trader, at Goldman Sachs as co-head of securitized derivatives trading and equity derivatives sales, and at BNP Paribas as a risk manager.
Cangemi is deputy head of risk control, having previously been head of fixed income, currencies and commodities trading at Leonteq. Following his appointment as chief risk officer, the Risk Control department will be split from the Legal, Compliance, HR and Risk division, and will report directly to the chief executive.
Cangemi joined Leonteq in 2008 and previously held senior positions at Merrill Lynch, Goldman Sachs, Citibank and Bayerische Landesbank.
As of January 2015, the firm's executive committee will be comprised by Jan Schoch (CEO), Roman Kurmann (CFO), Sandro Dorigo (Pension Solutions), Manish Patnaik (COO), Ulrich Sauter (Legal, Compliance & Human Resources), Daniel Cangemi (CRO) and Yann Besnard (Business Innovation).
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