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Lehman to offer onshore forex derivatives in Korea
SEOUL – Lehman Brothers has transferred JS Kim, a senior vice-president in fixed income from Tokyo to Seoul, in preparation for the launch of its onshore FX and interest rate derivatives business in the country.
BoA loses French corp sales dealer
LONDON – Olivier Brouet has left Bank of America (BoA) in London, where he worked in FX sales to French corporates, reporting to Kai Fisher, head of European FX corporate sales. A bank official said Brouet has not been replaced but declined to comment…
Merrill man takes on NAB's troubled FX group in Sydney
SYDNEY – National Australia Bank has hired Jeff Lee to take on the management of its troubled FX business in Sydney.
Commerz braces for cuts
SINGAPORE – Commerzbank's integration of its investment banking and capital markets units is likely to force some FX job cuts, said a source close to the bank in Singapore.
Harry Culham joins Dresdner
LONDON – Ex-Merrill Lynch FX chief Harry Culham is joining Dresdner Kleinwort Wasserstein in London to take on global FX for the bank, following the departure of Jorge Villon.
Tech firms spread out
LONDON/NEW YORK – Two FX technology firms have moved into new offices to cope with expanding staff numbers.
Prebon to take lead in Asia
SINGAPORE – Prebon Yamane looks set to take the lead in the merger with Tullett Liberty in the Asia-Pacific region, as a result of its strength in emerging markets and options, said local market participants.
BNP Paribas hires head of French sales
PARIS – Thomas Geist has joined BNP Paribas in Paris as head of FX sales to French financial institutions, reporting to Paris-based François Boisson, head of FX sales to financial institutions.
RBS boosts German sales staff
LONDON – Royal Bank of Scotland (RBS) is to increase the German FX sales headcount at its London office in the first quarter of 2005, in a move to expand its coverage of the region.
JPMC to reshuffle research group
HONG KONG – JP Morgan Chase is reorganising its Asia economics and credit & rates research teams. The move is part of a transitional phase in light of the departure of Bill Belchere, head of Asia economic research and market strategy, at the end of the…
Public sector holds back on FX
LONDON – Public sector companies may be holding back on using currency derivatives until they fully understand the implications of the new IAS 39 accounting standard, which comes into force in early 2005, and how the implications of reporting under the…
BoA loses three FX staff in London
LONDON – Three FX staff members have left Bank of America in London in the past two weeks, following a series of high-level departures earlier this year.
HSBC doubles EM strategy
NEW YORK – HSBC is doubling staff on its emerging markets (EM) currency strategy team to four, to help support the bank's growing sales and trading coverage of the sector.
Koram takes merger lead
SEOUL – Koram Bank's senior executives are taking the top positions in the merged FX group formed by Citigroup's purchase of the Korean bank, which starts trading as one entity on November 1.
Icap launches JV in Korea
SEOUL – KIDB-Icap, a joint venture between global inter-dealer broker Icap and Korean inter-dealer broker KIDB, has begun broking FX and interest rate derivatives in Seoul. The move takes place following the green light for the venture from the Ministry…
Swapstream names new chief executive
LONDON – Swapstream, a medium- and long-term interest rate swaps trading platform, has made Stéphane Rio chief executive, based in London. Rio previously headed rates trading at Commerzbank in London for five years, and replaces Marcus Grubb, who left…
SuperD adds 14 in global sales
LONDON – Super Derivatives has taken on 14 sales and support staff, as it tries to expand its coverage in the foreign exchange market and break into other asset classes.
Trading places
Calyon hires EM dealer
FX chief joins Pru exit queue
LONDON – The departure of Howard Carr, head of FX and commodities at Prudential Bache in London, has sparked fears for the future of the bank's FX desk in the city.
BNP expands institutional forex
LONDON/NY – BNP Paribas has hired three institutional FX sales dealers in London and New York in the past month as the bank continues to develop coverage for this growing client sector.