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HVB to shift global FX sales head to London
LONDON -- German bank HVB's global head of FX sales, Bob Mills, will transfer to London this month as part of a forex reorganisation, the bulk of which was completed in 2002.
Italian dealers in demand
LONDON -- Italian FX clients' increasingly sophisticated approach to FX has made Italian FX sales dealers a highly prized asset, market participants told FX Week .
Italian dealers in demand
LONDON -- Italian FX clients' increasingly sophisticated approach to FX has made Italian FX sales dealers a highly prized asset, market participants told FX Week .
Prop desks reap rewards of heightened FX volatility
LONDON -- Banks could be reaping rewards from their proprietary FX trading desks, as swift intra-day market moves continue, dealers have told FX Week .
Forex sales moves afoot at DrKW
NEW YORK -- Dresdner Kleinwort Wasserstein (DrKW) has made a senior hire to its North American FX sales team and re-aligned responsibilities on the desk, a spokeswoman for the bank told FX Week .
HSBC snares Desselberger
LONDON -- HSBC has hired Deutsche Bank’s head of corporate structured products, Matt Desselberger, to become its new global head of currency options, based in London.
Carr Futures to close London FX
LONDON -- Carr Futures, Chicago-based institutional brokerage firm and part of Credit Agricole Indosuez, is closing its London FX desk on June 1 to form one 24-hour desk in New York.
Sterling traders sidestep UK euro adoption issue
LONDON -- Uncertainty continues to surround the timing of possible euro adoption in the UK, but sterling traders are unlikely to suffer, whatever the outcome.
RBC puts fresh focus on proprietary FX trading
TORONTO -- Royal Bank of Canada (RBC) set up a new proprietary trading group last week in an attempt to steal a march on its competitors.
Bear Stearns launches emerging markets book
LONDON -- Bear Stearns has hired Emrah Aksaray to run a new emerging markets book for the bank in London. Aksaray will focus on the European timezone, including Turkey and South Africa, as well as emerging eastern European markets.
CAI completes forex rejig
LONDON -- Credit Agricole Indosuez (CAI) completed the reorganisation of its forex business following former global head of FX Simon Eedle’s relocation to New York in April.
Intesa bows out of London
LONDON – Banca Intesa, one of the last Italian banks still trading FX in London, closed its desk in April, becoming the latest of its compatriots to consolidate forex in Italy.
Industry leaders revive the client-facing options team
LONDON – Top-tier banks are moving to set up core groups of client-facing options specialists, turning away from a previous trend to re-train all sales dealers to have derivatives expertise.
BarCap hiring continues
LONDON – Barclays Capital has hired another seven forex staff globally, cementing its position as the biggest recruiter in forex so far this year. The bank has now added at least 19 new staff to its global FX business this year, across institutional and…
Bank One set to launch options desk in London
CHICAGO -- Bank One has hired two senior dealers to set up a new foreign exchange options desk in London, a senior official at the Chicago-based bank told FX Week .
BNP Paribas completes sales line-up for institutional clients
LONDON -- BNP Paribas completed the line-up of its UK institutional FX sales team last week, with the hire of its latest new recruit.
Merrill’s Italian sales gap unfilled
LONDON -- Merrill Lynch’s plans to increase corporate risk management and forex in Italy have suffered a setback, as the bank is yet to plug a gap in its Italian sales coverage.
BoA links major and emerging FX forwards in risk strategy drive
LONDON -- Bank of America (BoA) has merged its forwards and emerging markets forwards businesses in London, and hired three forwards traders globally as part of a continued drive to move to a strategic risk management model, a senior official told FX…
Emerging markets staff wanted
SINGAPORE -- Emerging markets traders are in demand, as banks seek to staff profitable non-majors desks from a small pool of talent.