StanChart Plans New Foray Into Exotics, Building A Global Illiquid Currency Team

BANKS

LONDON--Standard Chartered Bank is building a 12-strong unit specializing in illiquid currencies and non-deliverable forwards (NDFs), says Derek Saville, head of treasury for the UK and Europe, based in London. Last month the bank appointed Macer Gifford, StanChart's global head of NDFs based in Singapore, to the new position as global head of illiquid currencies in London. He will be responsible for building the global team based in the bank's trading rooms in London, New York, Singapore and

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