Swiss Volksbank Expands In N.Y. Adds Cross Rate Trader To Fold

Swiss Volksbank (SVB) continues to expand its trading desk in New York, and has recently hired Scott Simpson to trade the Deutsche mark/Swiss franc cross rate. This is the second new trader that SVB has hired in the last month.

Simpson previously worked for Credit Suisse where he traded the sterling/Deutsche mark cross and to a lesser extent, the mark/franc cross, a source at SVB says.

The bank also hired Tod Van Name last month from Union Bank of Los Angeles. Van Name is responsible for managing