RBC New York Hires Careccia To Expand EMS Trading Activity

The New York office of Royal Bank of Canada recently hired Tony Careccia to fine-tune and expand its EMS desk. "We've been seeing a little bit of corporate interest in some of the EMS currencies on a cross [rate] basis, so we're hoping to expand off it," says chief dealer Arnold Sherrer.

Although the bank will increase its activity in such currencies as the Dutch guilder, French franc, Spanish peseta and Deutsche mark/French franc, Sherrer says "we're not going to be quoting them interbank, it's