FX Markets

Calyon hires ex-Commerzbank head

Afaf had worked at Commerzbank in London since November 2005. He departed the German dealer when it restructured its FX and rates desk (FX Week, June 23).

The restructure, led by London-based head of interest rates Hui-Sun Kim, merged Commerzbank's FX warrants desk and structured bond desk with interest rate options to form a new interest rates and FX retail desk.

At Calyon, Afaf's hire follows the loss last month of London-based head of FX exotic derivatives trading, Stephane Coquillaud (FX Week

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