TRADING PLACES

 Rick Lloyd has taken on global responsibility for currency options at Commonwealth Bank of Australia (CBA), based in Sydney. Lloyd adds this to his existing duties as global head of spot FX trading. Furthermore, CBA has shifted chief interest rate options dealer Ross Beaney onto the currency options desk, appointing him chief dealer. The moves follow the departure earlier in the year of global FX options manager Gary Dillon, who joined National Australia Bank in a similar position, along with several traders, including Sydney-based chief FX options dealer Luke Duffey and senior trader Peter Barraket, as well as Gianni Gray from CBA's London operation (FXW, July 20 & November 2). Meanwhile, David Durst, who recently joined CBA as a senior options trader from Bear Stearns in New York, has transferred to Sydney. In a related move, CBA has also hired Peter Burgess as the new head of interest rate derivatives in Sydney. Burgess was formerly head of derivatives trading at Chase Manhattan Bank.

 Sakura Dellsher has made three additions to its team in London. Masakazu Yamada joins from Nikko Europe as a vice president of sales. At Nikko, Yamada covered a variety of products, including FX, fixed income and money markets. He will specialize in servicing Japanese institutional clients. Christopher Tyrrell and Kevin Dolby have also joined the sales desk in more junior positions. Tyrrell was formerly at brokerage Alexander Discount, while Dolby was at New Japan Securities, where he focused on servicing Japanese yen and government bond orders. The three join existing sales dealer Max Tanner, who has been with Sakura since the firm opened its London branch office in November 1997. "The main remit with these hires is to further establish the London office, build up our European clientbase and supplement the activity of our head office in Chicago," says branch manager Kevin Wilson.

 Spot dealers Lee Brown and Colin Crowther have left Banca Popolare di Novara's London office, officials confirm, who say the dealers will not be replaced.

 Officials confirm that Per Jensen is joining Unibank in London as an FX sales dealer. He will start in January and was most recently at BankBoston in a similar position, according to sources.

 Heinz-Peter Stohl, treasurer at BankAustria in London, has resigned and left the bank the week ending November 20. David Cahill, head of FX and money markets, has been appointed as his replacement, although he retains his current oversight.