Michael Crumpler replaces Donal Smith, current CEO and co-founder, who will retain his position as executive chairman
He will be responsible for the development of the company’s technology strategy, platform and product offerings
Standard Chartered has appointed Alexis Goeke as associate director
Cybersecurity software and solutions provider Drawbridge has appointed William Haney as CEO and a member of its board of directors. Company founder Jason Elmer will become president
"Overall improvement is always welcome, even if moves are minor. As important as banks are to the real economy, entities like clearers and custodians are the backbone of the financial system," David Carruthers highlights
"The dominance of improvement in consensus opinion is a welcome change after several months of deterioration, particular for entities like prime brokers that are so important to the functioning of the financial system,” says David Carruthers
The data reveals that banks of all types have seen their credit quality decline with the largest shift being in Latin American banks, as seen by a 14:1 ratio showing far more deterioration than improvement
“Broker dealers, CCP members, and custodians all saw declines in credit quality from the prior update, as did sub custodians that had the worst ratio of deteriorations to improvements of the intermediaries," says David Carruthers
