Christopher Kunkle is to leave his role at the Risk Management Association (RMA) in the US where he has been director of securities lending and market risk, Global Investor/ISF has learned.

Wells Fargo Securities confirmed that Kunkle will join the bank later this year. Based in New York, he will act as managing director of securities finance, reporting to Peter Abric who is managing director and head of securities finance for Wells Fargo.

A spokesperson for Wells Fargo told Global Investor/ISF that the newly created role is to help the Wells Fargo client trade services team which includes prime brokerage to expand its footprint in the securities lending marketplace.

Kunkle will focus on business development, relationship management and regulatory matters relating to all securities finance issues.

Fran Garritt will replace Kunkle as director of securities lending and market risk but Kunkle will continue to act as a member of the RMA executive board. He has worked at the RMA for more than three and a half years and has become a well-known figure in the US securities lending industry.

Before joining the association Kunkle worked in Wachovia’s securities lending office as senior vice president and managing director, and global head of relationship management.

He also spent time at JPMorgan in relationship management, and in product development at Mellon Financial. One of his notable achievements was having a key role in developing the agency securities lending division of Fleet Securities.

He started his career at Bankers Trust Company where he headed up securities lending product development.