People
MMS/MCM merger leads to Asia-Pacific lay-offs
SINGAPORE -- Forex market commentary provider MMS has already started shedding jobs in the Asia-Pacific region as part of its merger with Informa subsidiary MCM, according to a source at the firm.
RBS hires FX prime brokerage team
CHICAGO -- The Royal Bank of Scotland has hired three FX dealers to run a newly established North American prime brokerage business in Chicago.
Banks eye buy-side dealers
LONDON -- Banks are increasingly looking to recruit staff from the buy side in an effort to satisfy their asset management clients.
Ideaglobal makes Thrush COO
LONDON -- Market data firm Ideaglobal has named Paul Thrush, Barclays Capital’s former global forex chief, as its chief operating officer, based in London. He had been on the firm’s executive board since last November ( FX Week , December 2).
Currenex names new CTO
NEW YORK -- Currenex has hired Sean Gilman as chief technology officer, based in New York. He replaces Matthew Arrott, who left last month.
SG hires three to global institutional sales team
LONDON -- SG has made three new hires to its institutional FX sales team in London. The move is part of the bank’s global effort to boost its institutional sales business, a senior official in New York told FX Week .
Banks facing shortage of German FX sales dealers
LONDON -- Banks seeking to build their institutional FX sales business for German clients are facing a shortage of high-quality personnel, bank officials and recruitment consultants have told FX Week .
HSBC cuts in emerging FX
LONDON -- UK-based bank HSBC has cut about 10 European emerging markets positions in London, as part of a decision to move the management of those currencies back to their local centres, a senior official told FX Week .
Market mourns loss of Model Code author
Denis Nolan, author of the ACI’s Model Code, died at home in county Cork, Ireland on July 20 2003, following a long battle against cancer.
ABN to create new division
AMSTERDAM -- ABN Amro’s current global head of FX options, Douglas Bongartz-Renaud, will transfer to a new role in the bank’s wholesale banking business as part of a reorganisation set to take place over the coming months, a source close to the bank told…
Options specialists on the move
LONDON -- FX options specialists are in demand as exotic options become increasingly important to leadership in the area.
DrKW gains in FX sales
LONDON -- Dresdner Kleinwort Wasserstein (DrKW) has made four new appointments in its FX sales business in London this month as part of an ongoing build-up in the area, a senior official told FX Week.
Persaud to manage GAM fund
LONDON -- Avinash Persaud will join Global Asset Management (GAM), the Dublin-based UBS-owned investment manager, next month as an investment director, a spokesperson for the firm told FX Week. He is charged with managing a new global currency fund that…
Almeida rejoins Deutsche as global FX sales head
LONDON – Dan Almeida will begin in the newly created position of global head of foreign exchange sales at Deutsche Bank in London on September 2.
Greater role for dealers in FX fraud prevention
WASHINGTON – New rules jointly announced by the US Commodity Futures Trading Commission (CFTC) and National Futures Associations (NFA) last week will give dealers greater responsibility for the prevention of FX fraud by unregulated counterparties.
JPMC merges cross-product US middle-market teams
NEW YORK – JP Morgan Chase has merged three cross-product teams serving US-based firms, to bring together the bank’s middle market service across the US, a senior official told FX Week .
First senior hires at CAI-BFI
LONDON – Crédit Agricole Indosuez (CAI) has made the first senior appointments for CAI-BFI, the institution to be created from the merger of CAI and Credit Lyonnais. However, appointments to the FX business are not due until later this month, senior…
Goldman and Lehman ready moves to new Tokyo building
TOKYO -- Forex traders at US investment banks Goldman Sachs and Lehman Brothers are preparing to move into the same 54-storey building in central Tokyo.
Commerzbank rebuilds foreign exchange in London
LONDON -- Commerzbank has made a series of appointments to its FX team in London as it begins to merge its global interest rate and foreign exchange businesses under Ali Satrap.