News Nuggets | 10 October: Exec Moves in Symphony, Axi and RJO; Charges for BBY CEO

<p>Wall Street Veteran Moves
to Symphony</p><p>Bryan
Christian, the Director of <a href="https://www.financemagnates.com/tag/lmax/" target="_blank" rel="follow">LMAX Group</a> in the USA, has changed his post this
month, joining Symphony as the Head of Business Development.</p><p>"I’m
happy to share that I’m starting a new position as Head of Business Development
at Symphony,” Christian wrote on his LinkedIn profile.</p><p>In the past,
he was associated with CrossTower as the Head of Exchange, Cboe Global Markets
as the SVP Head of US Sales and Nasdaq as the Managing Director.</p><p>R.J. O’Brien Announces Key
Executive Promotions</p><p>Chicago-based
<a href="https://www.financemagnates.com/tag/rj-obrien/" target="_blank" rel="follow">R.J. O’Brien &amp; Associates</a> (RJO), the oldest independent futures brokerage
and <a href="https://www.financemagnates.com/terms/c/clearing/">clearing</a> firm in the US, has promoted Matt Heidkamp to Executive Director,
Chief Operating Officer (COO) for its US operations and Gemma Lloyd to COO for
its EMEA affiliate, R.J. O’Brien Limited. </p><p>Both
Heidkamp and Lloyd bring extensive experience to their new roles, with Heidkamp
having nearly 29 years of experience at RJO in trading and operations, and
Lloyd joining earlier this year with over 25 years in client service and sales
management roles in the listed derivatives sector.</p><p>Axi Eelevates Ton to Head of
RPA</p><p>In a
separate move, <a href="https://www.financemagnates.com/tag/axi/" target="_blank" rel="follow">Axi </a>has informed that Jonny Leon Tong was promoted to Head of
Robotic and Programming Automation (RPA). Tong joined Axi back in 2017 as the
Head of Client Services and worked as the General Manager, Head of Financial
Operations, and Head of Global Middle Office.</p><p>“I’m happy
to share that I’m starting a new position as Head of Robotic Programming
Automation (RPA) at Axi,” Tong commented.</p><p>Former BBY CEO Charged
with Fraud</p><p>Arunesh
Narain Maharaj, the former CEO of stockbroking firm BBY Limited, has been
charged with aiding and abetting fraud, the Australian <a href="https://www.financemagnates.com/tag/asic/" target="_blank" rel="follow">ASIC </a>informed. The charges allege that Maharaj
assisted another former BBY employee in dishonestly obtaining financial
advantages from St George Bank, a division of Westpac Banking Corporation. The
alleged fraudulent activities took place at the end of June 2013 and from
November 2014 to early 2015.</p><p>The case
has been adjourned for further mention on 5 December 2023, and is being
prosecuted by the Australian Commonwealth Director of Public Prosecutions. He
may carry a maximum penalty of 10 year’s imprisonment.</p><p>HIVE Digital Ventures into
AI and HPC</p><p><a href="https://www.financemagnates.com/tag/hive-blockchain-technologies/" target="_blank" rel="follow">HIVE
Digital Technologies Ltd.</a> has announced an update on its High-Performance
Computing (HPC) and Artificial Intelligence (AI) infrastructure projects. The
company is converting its 38,000 Nvidia data center GPU cards, previously used
for mining Ethereum, into an on-demand GPU cloud service. They aim to have
3,200 GPUs operational in the AI/HPC space by the end of October.</p><p>HIVE's HPC
and AI business is currently generating 15 times more revenue than <a href="https://www.financemagnates.com/terms/b/bitcoin/">Bitcoin</a> on a
per-megawatt basis. The company is optimistic about the growing demand in the
GPU cloud market, citing a report by Goldman Sachs and Fortune Business
Insights that predicts significant growth in the sector.</p><p>UK Investment Management
Industry Holds Strong Despite Challenges</p><p>The UK
investment management industry has seen a decline in Assets under Management
(<a href="https://www.financemagnates.com/tag/management/" target="_blank" rel="follow">AuM</a>) to £8.8 trillion in 2022, according to the Investment Association’s
latest survey. This decline is attributed to various factors, including the war
in Ukraine, rising inflation, and political changes in the UK. Despite these
challenges, the industry continues to be a global success.</p><p>The UK
manages £4.6 trillion for local retail and institutional investors and an
additional £4.2 trillion for overseas investors. Of these overseas assets, £2.4
trillion is managed for European customers, £845 billion for North American
customers, and an increasing proportion for Asian customers, which now stands
at 16% of AUM (£680 billion).</p>

This article was written by Finance Magnates Staff at www.financemagnates.com.