Markit has strengthened its securities finance business with the appointment of Edward Marhefka as managing director and co-head of Markit Securities Finance working alongside David Carruthers.
Marhefka will lead and expand the Markit Securities Finance business in North America, providing senior engagement with the securities finance client base to shape commercial and data strategy across the product set.
Prior to joining Markit, Marhefka held a number of senior roles at Morgan Stanley including managing director in bank resource management, executive director in equity securities lending and vice president in prime brokerage. Before that, he spent three years as co-head of North American equity financing services sales at Lehman Brothers, as well as holding senior roles at Bank of America and Bankers Trust.
David Carruthers leads the sell-side and buy-side securities finance businesses in Europe and Asia having joined Markit as part of the Data Explorers acquisition in April 2012. Prior to joining Data Explorers in 2008, Carruthers was a risk consultant with Barrie & Hibbert for 12 years and before that, spent 10 years in fund management with PIMCO and Murray Johnstone.
Brad Hunt, managing director of equities at Markit, said: “Edward’s deep understanding of client requirements and extensive relationships will be valuable as we seek to expand our offering and increase our relevance to our core securities finance client base.”