Following the appointments of Sophie Baranger as head of the Investigations and Inspection Directorate and Arnaud Oseredzuck as head of the Asset Management and Markets Directorate, the AMF has finalised its reorganisation of both directorates.
Marguerite Yates, previously head of the Supervision of Services Providers and Market Infrastructures Department has been appointed advisor to the Secretary General. She will be in charge of cultivating adialogue on operational matters with other European market regulators, since an increasing share of market activities in Paris is performed by intermediaries based elsewhere in the European Union.
At the new Investigations and Inspection Directorate, Nicolas Patel, deputy head of the Investigations Department, has been appointed head of the Inspection Directorate. The Investigations Directorate is still headed by Laurent Combourieu.
Furthermore, the Asset Management and Markets Directorate comprises a new Markets Directorate split into three divisions: Alexandra Givry heads the Market Supervision Division; Stéphane Pontoizeau heads the Market Intermediary Monitoring Division; and Delphine Vandenbulcke heads the Infrastructures and Post-Trade Division.
The Asset Management Directorate, previously the Investment Services Providers and Products Department, is still headed by Guillaume Eliet.
Marguerite Yates, who holds a BA from Yale University and an MBA from New York University (NYU), began her career as a teacher. She was first hired by Chase Manhattan Bank in New York in 1979 before joining Paribas in Paris in 1984. She held a variety of posts in Paribas Securities Services before becoming Chief Compliance Officer for the Paribas Group. In 2000 she was appointed Global Head of Compliance for the Corporate and Investment Bank arm of BNP Paribas. She then joined AXA Investment Managers as head of Internal Control, Risk Management and Compliance. Ms Yates was head of Inspection with the Conseil des Marchés Financiers (CMF) in 2001. She was appointed head of the AMF Supervision of Services Providers and Market Infrastructures Division in 2003
Nicolas Patel holds a degree in applied economics from the University of Paris Dauphine. He began his career in 1983 as a foreign exchange dealer at Banque Indosuez, then at Banque Odier-Bungener-Couvoisier, before joining Société Viel & Compagnie as a money market trader. In 1985 he went to work at the Banques Populaires Group as a forex dealer for Caisse Centrale des Banques Populaires (CCBP),where he held a variety of positions. From 1995 to 1999, he served as head of fixed income markets at the Market Activities Division of CCBP. From 1999 to 2003, he was appointed managing director of the Natexis Arbitrage company and group director of Natexis Banques Populaires in charge of the Capital Markets Division. In 2004 he and a partner created Finalpha Conseil, an investment advisory company,and lent his expertise in the creation and development of alternative asset management companies. Mr Patel joined the AMF in 2005 as an inspector in the Investigations and Market Surveillance Division (DESM). He was appointed deputy head of the Investigation Department in July 2006.
Alexandra Givry trained as an actuary and holds degrees from Ecole Polytechnique and ENSAE. She began her career as an insurance auditor in 2003. She joined the AMF for a one-year assignment as a test analyst in the Market Surveillance Department and the Investigation Department. From 2004 to 2009, she was an insurance auditor at France’s insurance regulatory authority, the Autorité de Contrôle des Assurances et des Mutuelles (ACAM). As the person in charge of ongoing oversight of insurance companies and groups, as well as life insurance regulatory issues, she also participated in the work of the European Insurance and Occupational Pensions Committee (EIOPC) in developing the Solvency II directive. In 2009 Ms Givry was recruited through a secondment process by the AMF to the position of deputy head of the Market Surveillance Department.
Stéphane Pontoizeau, an engineer with a degree from ESTP and a post-graduate diploma in banking and finance from the University of Paris Dauphine, began his career as a consultant at Eurogroup, where he managed projects in bank accounting and financial information systems from 2001 to 2005. He started with a position in the Controlling department of Banque Worms (Deutsche Bank Group), where he directed projects linked to the bank’s integration within the group, and then the gradual divestment of its activities.In 2004 he participated in the Colisée project in the Finance department of BNP Paribas (which involved the pooling of retail custody systems of BNP Paribas and Crédit Agricole). In 2005 he lent his expertise to the AMF for its project to merge the separate market surveillance applications of the COB and the CMF.He joined the AMF in 2006 as project manager in the Investment Services Providers and Market Infrastructures Department (SCPIM). Mr Pontoizeau was appointed expert inspector at the SCPIM in 2008.
Delphine Vandenbulcke, an actuary with degrees from ENSAE and HEC, began her career at Banque Indosuez (now Crédit Agricole CIB), in 1992. There, she served successively as credit analyst, seniormarket risk analyst for the fixed income and foreign exchange business lines, and manager of transversal projects at the Assets Financing Division. In 2004 she joined the general secretariat of the CommissionBancaire where she was in charge of the prudential supervision of a portfolio of financial institutions. MsVandenbulcke was recruited in 2007 by the AMF as a senior advisor for the regulation of clearing and settlement infrastructures in the Investment Services Providers and Products Department (SPPE). She joined the Department for the Oversight of Market Infrastructures and Securities Custody Department (DIMTC) in 2008. She was appointed deputy head of DIMTC in 2010.
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