Asset servicing banking group CACEIS UK has appointed Christopher Christofi as its new head of risk and permanent controls, UK and Client Assets Sourcebook (CASS) oversight officer.
Christofi joins from Societe Generale Securities Services, where he served as head of compliance advisory to custody services covering authorised and unauthorised open and closed-ended fund structures.
Christofi brings a wealth of experience in risk, compliance and CASS. Prior to his role at Societe Generale, Christofi worked with the Financial Conduct Authority in the implementation of the AIFMD directive.
In his new role, Christofi will be overseeing operational risk control frameworks across the UK business and as a subject matter expert on risk and CASS, will act as an advisor to the firm’s custody services, fund accounting and depositary teams.
Pat Sharman, country managing director, UK CACEIS, said the appointment reaffirms the bank’s growth ambitions in the UK and its commitment to partner with asset managers and pension schemes. “Chris is a great addition to the team and brings considerable expertise in operational risk, operational resilience and governance within regulated environments,” he said.
Christofi added: “I was really attracted by CACEIS’ ambition for growth in the UK, their sustainability expertise and the personalities in the team. With my natural governance and risk hat on, I also like the way CACEIS is bringing new governance solutions into the market to help their clients monitor a new range of challenges, such as ESG and climate risk. I’m looking forward to working with such an ambitious team.”
The announcement marks the second senior appointment in three months at CACEIS, following the appointment of Glen Townsend as head of oversight and operations in the UK. Townsend’s impressive CV includes senior roles at State Street, BNP Paribas Securities Services and Aberdeen Standard Investments.
For Societe Generale, Christofi’s departure marks the second senior executive to leave the business in as many months, following Christophe Baurand, who served as global head of sales, marketing and solutions.
Societe Generale has already moved to replace Baurand, naming Alexandra Chauvel and Gildas Le Treut as co-directors of Coverage, Marketing and Solutions (CMS).