Tim Nicolle joined Eurokommerz as first deputy chief executive officer. He was previously managing director of emerging markets for Deutsche Bank in London. In his new Moscow-based role, Nicolle will oversee for a wide range of Eurokommerz activities, including debt and equity transactions, strategic initiatives, acquisitions and the international expansion of the group's businesses. Eurokommerz is a commercial finance business and is currently the largest factoring company in the CIS region. The firm actively deals with over 24,000 companies across Russia, Ukraine and Kazakhstan. It was only the second quarter of last year that Deutsche poached Nicolle from HVB, where he handled deals from the Eastern Europe-Russia region.
First Marblehead Corp. has made a series of management changes. The student loan firm announced that Kenneth Klipper will become the chief financial officer effective immediately, succeeding John Hupalo, who decided to leave the company to pursue other opportunities. Before his appointment as CFO, Klipper served as senior vice president, treasurer and chief accounting officer of First Marblehead. Prior to working at First Marblehead, Klipper was the chief executive officer of BrownCo, an online brokerage firm at the time owned by JPMorgan. The company also announced that the capital markets group will now be led by Gary Santo and Stein Skaane. Santo is rejoining the company effective Sept. 29 after serving as a managing director in the structured finance group at Fitch Ratings since July 2007. He previously spent 11 years in the capital markets group at First Marblehead. Skaane, who currently serves as executive vice president of product strategy, has been with First Marblehead since 2001 and prior to that, worked at State Street Corp. in the firm's structured finance group. The reconstituted capital markets group will also include personnel currently responsible for quantitative analysis, risk analysis, and product strategy. The company also announced that Michael Plunkett, senior vice president of loan operations, will head the company's newly combined loan origination and information technology department.