Nomura creates new FX correlation business

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Nomura has promoted Will Johns, former head of emerging market foreign exchange options for Europe, the Middle East and Africa (Emea), to head the bank's new FX correlation business.

The new business will involve options based on correlations of various currency pairs for clients to use both for risk management and investment purposes.

Johns will remain in London and will continue to report to Nigel Khakoo, global head of FX options and co-head of FX trading for Emea. He will also work closely

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