Freddie Mac's choice

Raymond Romano has been appointed the new chief credit officer of Freddie Mac. Mr Romano will be responsible for credit risk management in the American mortgage finance company, which was put under the control of the US Government in September. He has served as senior vice-president of credit risk oversight since joining the company in 2004 and has been the acting chief credit officer since September. He will report to David Moffett, Freddie Mac's chief executive.

Watching risk for SCOR

Frieder Knüpling is to be deputy chief risk officer of the SCOR Group, the French re-insurer, leading its risk management team in Cologne. He has served previously as the SCOR Group's chief corporate actuary. Michael Kastenholz, the deputy group chief risk officer, is leaving the SCOR Group for personal reasons.

RBC's Indian move

RBC Wealth Management, part of the Royal Bank of Canada, has hired an Indian-client team from Citibank. Sumit Sibal, Amit Kachawaha, Amit Kotha and Vikram Anand will look after the company's non-resident Indian clients. The team, which is led by Mr Sibal, began work at RBC Wealth Management's London office yesterday.

American Apparel hot seat

Adrian Kowalewski has been named as the chief financial officer of American Apparel, the clothing retailer. Mr Kowalewski, 31, succeeds Ken Cieply, who resigned as chief financial officer after Dov Charney, the chief executive, called him a “complete loser” in an interview with The Wall Street Journal in March. Mr Kowalewski has been the director of corporate finance and development since joining the company in 2006.

HSBC's Vietnamese venture

HSBC Bank (Vietnam) began operations on January 1. Thomas Tobin, president and chief executive of HSBC's operations in Vietnam, has been made chief executive of the new locally incorporated bank. All assets and liabilities of current operations at HSBC's Ho Chi Minh City branch and Hanoi branch have been transferred to the new bank. HSBC (Vietnam) plans to open seven new branches in the first quarter of this year.

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