Slideshow Who Are Wall Street’s Top Operational Executives?

  • May 13 2011, 12:00am EDT
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From his perch as CEO of Worldwide Securities Services at JPMorgan Chase, Kozak oversees a team of 12,000 employees and manages a complex and global swath of operations-oriented bank services.

In 2009, WSS won – through a competitive process – the largest custodian mandate of the year when it was selected to serve as custodian for the $500 billion U.S. Federal Reserve program to purchase mortgage-backed securities (MBS).

The program was designed to purchase up to $500 billion in such securities backed by Fannie Mae, Freddie Mac and Ginnie Mae. The goal was to foster improved conditions in financial markets. At present, the trading part of the program has ceased, but JPMorgan continues to act as the custodian of the assets.

Participants involved in the investment management side of program were BlackRock Financial Management, Goldman Sachs Asset Management, Pacific Investment Management (Pimco) and Willington Management.

In 2010, WSS won custody and related service mandates that included John Lewis Partnership Pensions Trust, which has in excess of $1.2 billion in total assets under management; Transatlantic Holdings, Inc., an international reinsurance organization with $11 billion under management; BankInvest, an asset manager and provider of investment funds in the Nordic region with $23 billion under management and administration; Nasdaq OMX, which appointed JPMorgan as custodian for its derivatives markets; and AQR Capital Management, the adviser to AQR Funds, which required a full suite of fund administration, prime-custody and related services for the firm's mutual funds, with more than $2 billion in assets.

TOP OPERATIONS EXECUTIVE: Hans Hufschmid, GlobeOp Financial Services

TOP OPERATIONS EXECUTIVE: Hans Hufschmid, GlobeOp Financial Services

For Hufschmid, the chief executive officer of GlobeOp Financial Services, the past year has been a time of positive developments.

When the returns are tabulated for 2010, we will finish the year at record revenue levels and assets, achieved key client wins and have a very healthy balance sheet, with no debt,” Hufschmid said.

The London-listed firm's continued expansion – the firm added 29 new clients in 2010 and increased its total of funds served to 1500 – can be attributed in part to Hufschmid's ability to maintain high standards, diversify service and product offerings, anticipate the reporting, regulatory and technology needs of clients and deftly deal with the due diligence demands of hedge fund investors.

Hufschmid is the former head of foreign exchange at Salomon Brothers, where he ran currency trading for nine years. Then, he joined Long-Term Capital Management, a massive $102 billion hedge fund that failed but nonetheless, was praised for its state-of-the-art, administrative technology, overseen by Hufshmid. Then, he launched launching GlobeOp.

In 2010, GlobeOp landed General Motors and Morgan Stanley as clients. GlobeOp helps the US carmaker handle daily collateral management, valuations and reconciliation including foreign exchange, commodity and interest rate derivatives. For the global bank, it provides independent middle and back office services and detailed daily data and reporting for its managed account platform ALPHA.

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Malgieri, CEO of Broker-Dealer Services, runs a multi-faceted, dual-track business unit at Bank of New York Mellon. He oversees a global unit of approximately 360 people in ten locations, not including a technology staff of 520. His team runs two lines of business.

One offers a suite of clearing products and manages clearing for 16 of the 20 primary dealers, acting as a leading clearing agent for U.S. Government Securities. "We are one of the largest US government bond clearers in the world," notes Malgieri.

The other division offers a suite of global collateral management services and operates as a leading collateral management agent. This business services more than $1.8 trillion daily in tri-party repurchase or repo market balances and is a form of short-term lending that Wall Street investment banks actively employ to fund their balance sheets.

Malgieri has been working closely with the Federal Reserve Bank of New York's Tri-Party Repo Infrastructure Task Force, a committee of market participants backed by the New York Federal Reserve. The goal: help eliminate systemic risks associated with the tri-party repo market.



Gooch is CEO of MarkitServ, a one-stop shop for the processing derivative transactions. MarkitServ counts more than 70 dealers, 50 inter-dealer brokers and nearly 2,000 buy-side institutions, including hedge funds, pension funds and insurance companies, as customers. And it is developing new products and services for them, even as rules change, due to the Dodd-Frank Wall Street Reforrm Act and other global regulatory initiatives in the wake of the 2008 financial crisis.

MarkitServ now connects to each of the six central counterparties globally that currently accept trades, including: LCH.Clearnet, The CME Group, ICE Trust, Eurex Clearing, the International Derivatives Clearing Group and the Singapore Exchange.

In October of 2010, MarkitServ announced it had linked its clearing house routing system to BlackRock's services business