FIVE YEARS AGO IN FXW

FIVE YEARS AGO IN FXW

StanChart to Start London Currency Options Desk

Standard Chartered Bank in London has hired Chase Manhattan Bank's London options chief, Alan Hicks, and his deputy, Ross McDonald, to start an options trading operation in the major currencies.

FXW, May 9, 1994

Editor's note: Hicks was named global head of FX options at StanChart, while McDonald was appointed head of FX options trading in London.

Hicks oversaw the relocation of the bank's pre-existing 24-hour options desk from Hong Kong to Singapore, as well as expanding the London operation.

Hicks was also a member of the Exotic Options Steering Committee that was responsible for drafting standard counterparty agreements for barrier FX options under the auspices of the British Bankers' Association.

Hicks left StanChart in April 1995 to set up his own consultancy, Alan Hicks & Associates. He later was made a director of Inventure, author of the Fenics FX options pricing and analytics system.

He was replaced at StanChart by McDonald who held the position for a year before joining the Bank of New York in London as a senior options trader.

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