Ray Dalio of Bridgewater
Eoin Noonan/Web Summit/Getty ImagesHere's a rundown of news on hires, exits, and promotions from the past week. Are we missing anyone? Let us know.
Shawn Joshi, the head of index credit trading at Morgan Stanley, is leaving the firm, sources told Insider. Joshi is headed to the $1.9 billion credit-focused hedge fund Compass Rose Asset Management. Prior to joining Morgan Stanley in 2018, Joshi was a managing director at Goldman Sachs in derivatives trading.
Goldman Sachs markets division chairman Michael Daffey is retiring from the firm in March, according to an internal memo seen by Insider. Daffey, who's been at Goldman since 1994, was promoted to a variety of leadership roles across trading divisions and managed some of the bank's largest hedge fund clients.
Bridgewater Associates is reshuffling top leadership, as first reported in the Wall Street Journal. COO Brian Kreiter is leaving the firm to start his own company, while Nir Bar Dea has been promoted to deputy CEO reporting to Bridgewater chief executive David McCormick. The fund is also "expanding and formalizing" its investment committee to draw on "a deep bench of investment leaders," according to a memo posted on LinkedIn by McCormick Friday, while Bridgewater founder Ray Dalio "will continue to serve as a mentor across functions and remains Co-CIO and Co-Chairman."
JPMorgan announced several top leadership promotions in its investment banking division, according to a series of memos viewed by Insider. Peter Engel (who led investment banking for the western US) and Erik Oken (who was the global head of consumer retail investment banking) are joining the executive committee of global chairs of investment banking, a leadership team created at the bank last year. Succeeding Oken is Dana Weinstein, who's heading up a new North America consumer, retail, and business services investment banking group.
Meanwhile, two other investment banking executives at JPMorgan, Charlie Bouckaert and Mark Marengo, are now the co-heads of North America diversified industries investment banking at JPMorgan.
JPMorgan also has its eyes sight on overseas SPACs. The bank is creating a new team of senior dealmakers to oversee SPAC activity in Europe, the Middle East, and Africa, according to Financial News. Guillermo Baygual, currently the co-head of JPMorgan's EMEA M&A business, and Lukasz Dziarnowski, an executive director and M&A banker based in London, will be joining the team.
Grayscale Investments is staffing up its C-suite. The digital asset manager that plans on doubling its headcount this year has brought on Hugh Ross as its COO, Benjamin Melnicki as its chief compliance officer, and Angela Romano Kuo as its chief people officer. Rosswas previously at the fund Horizon Kinetics, where he oversaw the crypto portfolio. Melnicki is the former head of Americas regulatory affairs at Ripple. Romano Kuo joins Grayscale after leading people and talent strategy at firms like FanDuel.
Venture capital fund NYCA has made two promotions to its leadership team, according to a blog posted by the company. Jerry Solomon, who joined NYCA a year ago after serving in executive positions at Lending Club, Affirm, and Aven (three NYCA portfolio companies), is now a partner. Sol Lee, meanwhile, has been promoted to principal. She worked at Mastercard and in Uber's payments division before joining NYCA and has worked on the firm's investments in Smartrr, Savi, FinLync, and Ethic in addition to overseeing NYCA's impact investing.
Trading Technologies, a futures trading system and software company, announced a shakeup in its leadership team as it promotes a slate of internal executives with the departure of Michael Kraines, president and CFO. Farley Owens has been promoted to president, Roger Mills will serve as CFO, Guy Scott is now an executive vice president in charge of global sales, and Bharat Mittal has been promoted to CTO.
Healthcare investment bank SVB Leerink has a new global co-head of investment banking. Barry Blake, who will be based in New York and was previously a senior managing director at Guggenheim Securities in charge of healthcare services advisory, joins the firm after a career in healthcare M&A at Citigroup, JPMorgan, and Lehman Brothers.
Fixed-income trading and research at Bank of America has some new leadership. Michael Maras has been promoted to head the bank's global fixed-income, currencies and commodities research after David Woo's departure from Bank of America, as reported in Bloomberg. Maras joined Merrill Lynch in 1996 and will be based in London. Within foreign exchange, the bank has also promoted Flavio Corsini to head Brazil's local currency trading operations.
A top KKR executive in Asia is leaving the firm, according to Bloomberg. Singapore-based Terence Lee, a managing director at the investment firm in charge of Asia Pacific, has resigned. Lee headed KKR's technology, media, and telecoms investments in the region.
Reed Alexander, Shannen Balogh, Dakin Campbell, Dan DeFrancesco, Meredith Mazzilli, Alex Morell, and Bradley Saacks contributed reporting.
GenSight Biologics (Paris:SIGHT) (Euronext: SIGHT, ISIN: FR0013183985, PEA-PME eligible), a biopharma company focused on discovering and developing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders, today announced that it has submitted the Marketing Authorisation Application (MAA) for its lead product LUMEVOQ® to the European Medicines Agency (EMA), seeking approval for the treatment of patients with vision loss due to Leber Hereditary Optic Neuropathy (LHON) caused by mutation in the ND4 mitochondrial gene.
"This first regulatory submission for GenSight is a major milestone in our progression from a pure research organization to one with commercial capabilities. It validates a technology platform that has the potential to address the high unmet medical needs of patients suffering from a range of rare diseases. I would like to thank all GenSight employees and partners whose motivation, focus and effort made this submission possible,” said Bernard Gilly, Co-founder and Chief Executive Officer of GenSight Biologics.
LHON is a rare, mitochondrial genetic disease, mainly affecting young males. The ND4 mutation results in the worst visual outcomes, with most patients becoming legally blind. There continues to be a high unmet medical need for the 800-1200 new LHON patients in Europe and the U.S. each year, particularly those who are struck blind in their prime working years.
Lenadogene nolparvovec (tradename: LUMEVOQ®) is a recombinant adeno-associated viral vector, serotype 2 (rAAV2/2), containing a cDNA encoding the human wild-type mitochondrial NADH dehydrogenase 4 protein (ND4), which has been specifically developed for the treatment of LHON associated with mutation in the ND4 gene. It received orphan drug designation status for the treatment of LHON from the EMA in 2011 and from the U.S. Food and Drug Administration (FDA) in 2013.
GenSight submitted the MAA based on the benefit-risk balance established by results from a Phase-I/IIa study (CLIN-01), two pivotal Phase-III efficacy studies (CLIN-03A: RESCUE, and CLIN-03B: REVERSE) and the long-term follow up study of RESCUE and REVERSE (CLIN 06 - readout at Year 3 post injection). To demonstrate the efficacy of LUMEVOQ® in the context of a contralateral effect, the Company used a statistics-based indirect comparison methodology to assess the visual outcomes in LUMEVOQ®-treated patients (from LUMEVOQ® efficacy studies) against those in untreated patients from Natural History studies and GenSight’s REALITY Natural History Registry.
GenSight expects to submit the Biologics License Application (BLA) for LUMEVOQ® to the FDA in H2 2021. First-in-human data from GenSight’s second clinical stage program, GS030, are expected to be available in H2 2021.
About GenSight Biologics GenSight Biologics S.A. is a clinical-stage biopharma company focused on discovering and developing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders. GenSight Biologics’ pipeline leverages two core technology platforms, the Mitochondrial Targeting Sequence (MTS) and optogenetics to help preserve or restore vision in patients suffering from blinding retinal diseases. GenSight Biologics’ lead product candidate, LUMEVOQ® (GS010; lenadogene nolparvovec), is in Phase III trials in Leber Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease that leads to irreversible blindness in teens and young adults. Using its gene therapy-based approach, GenSight Biologics’ product candidates are designed to be administered in a single treatment to the eye by intravitreal injection to offer patients a sustainable functional visual recovery.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200914005857/en/
Helios Technologies (Nasdaq: HLIO), a global leader in highly engineered motion control and electronic controls technology for diverse end markets, announced today...