UBS Centralizes European Forex Under A Single Head In London
BANKS
Union Bank of Switzerland (UBS) is centralizing its FX trading and sales in Europe under London-based Yves Perreard, says Daniel Schwitter, head of global currencies in Zurich. Further to this effort, Chris Stewart was named head of FX sales for Europe, while a counterpart FX trading head will be named in due course, he says.
Perreard, who currently heads FX in London, takes up his new position today. Reporting to him, is London-based Stewart, who was previously regional sales head for derivative
More on Wholesale
JP Morgan: beating lower margins, flat volumes and the competition
Foresees collaboration with clients and technology providers on FX tech infrastructure, and working with regional players
FX HedgePool: move to clearing may be irresistible
Jay Moore says balance sheet pressures will redefine buy-side credit relationships
Debelle: last look will not be banned
GFXC head says market participants have a choice of whether to use a liquidity provider that employs the practice
Buy-side traders cannot be passive with algo execution
Traders need to be proactive and ensure in-depth monitoring throughout life of an order, panellists say
Spotex expands institutional offering with JP Morgan and NatWest
The banks’ prime brokerage desks seek diverse liquidity pools that could lead to better execution for their algos
MUFG eyes financial institutions, pension funds in expansion
Japanese bank wants to build a broader client base beyond corporates
Record builds synthetic FXPB offering
Specialist currency manager will use tri-party model to move securities collateral between banks
Electronic trading differentiates dealers competing for market share
Technology and business scope keep JP Morgan and Citi at the top, but selectivity has some dealers gaining momentum
