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Clients see modest pay increases
LONDON/NEW YORK -- Buy-side forex staff saw modest increases in their salaries and bonus payouts last year, according to a report published recently.
BNP Paribas hires Uwe Fuehrer for investor sales
LONDON -- BNP Paribas last week lured Credit Agricole Indosuez’s (CAI) former FX sales head back to the forex market, in an expansion of its UK institutional sales team.
New CIBM heads at HSBC
LONDON -- HSBC last week announced the appointment of Stuart Gulliver as co-head of the corporate, investment banking and markets business (CIBM), responsible for FX, fixed income, syndicated loans, structured credit, precious metals, equities and all…
BarCap expands options
LONDON -- Barclays Capital has hired two in FX options and two in FX structuring to join the bank in London this quarter. Three of the new dealers come from Citigroup.
ABN realigns risk advisory
LONDON -- ABN Amro has incorporated its FX analytics and risk advisory group into a new cross-product advisory service, the bank announced last week.
BoA management reorg
NEW YORK -- Bank of America has cut three management positions as part of an ongoing strategy to consolidate global FX trading and sales, a senior official at the bank in New York told FX Week .
Pressure mounts to keep Duisenberg at the ECB
FRANKFURT -- Political pressure is mounting on European Central Bank (ECB) president Wim Duisenberg to continue his tenure beyond his planned retirement in June.
Mizuho sales head leaves
LONDON -- Head of treasury sales Richard Burrows and senior treasury sales dealer Neil Callard have left Mizuho Financial in London, just a year after winning their positions at the new bank.
Bank One adds more traders
CHICAGO -- Bank One hired two FX traders in March, continuing a build-up in spot and options trading begun earlier this year.
State St drives into options
BOSTON -- State Street has created a global FX options head role for Hank Lynch, in a bid to expand its options business and serve the changing needs of its existing client base.
Commerzbank loses more FX sales dealers in London
LONDON -- Commerzbank in London has lost two more forex sales dealers, further reducing an already depleted sales force.
SG names institutional sales head
NEW YORK -- SG has appointed a new global head of institutional sales in New York, as part of its effort to better align itself with its clients’ needs, the bank announced last week.
BoA sells Canada corp arm
TORONTO -- FX services group Travelex has bought part of Bank of America’s corporate forex business in Canada.
Italian team snubs Merrill
LONDON -- A three-strong Italian FX sales team backtracked on a move to Merrill Lynch to rejoin Goldman Sachs in London last week.
BarCap lures top dealers
LONDON -- Barclays Capital is in the midst of an aggressive recruitment campaign in London and New York, targeting staff at the world’s top investment banks.
Regulators approve Allfirst purchase
NEW YORK -- Federal and state regulators have approved M&T Bank’s purchase of Allied Irish Banks’ US subsidiary Allfirst Financial -- the bank that last February discovered it had lost nearly $700 million from fraudulent FX trading.
Trading places
BNP Paribas boosts FX sales
Citigroup’s Englander joins BarCap but top research post stays vacant
LONDON -- Brian Martin, global head of FX research at Barclays Capital in London, has left the bank.