Deutsche Revamps Singapore FX With Expansion In Derivatives

Deutsche Morgan Grenfell is re-organising its Singapore forex group, naming several new managers and expanding its regional currency derivatives capability, officials say.

"The globalisation strategy and overall growth in Deutsche Morgan Grenfell's foreign exchange business in Asia is resulting in a number of changes in responsibilities," says Albert Maasland, head of Continental Europe FX trading and sales.

Regional forex manager Richard Jacoby is moving over to spearhead the expansion of South East Asian regional currency derivatives this month. Meanwhile, the treasurer in Bangkok, Therapong Monthienvichienchai, takes over Jacoby's former regional responsibilities for FX, based in Singapore.

In other moves, chief dealer Gordon Wu, who transferred to Singapore last year, is returning to New York at the end of January to rejoin the spot desk. New York-based director on the forwards desk, Andreas Putz, is transferring to Singapore this month to take over as the forex manager there.

In New York, Anthony Dedio will take over Putz's responsibilities, says Daniel Almeida, managing director in New York. Dedio joined about a year ago from Bankers Trust as a senior dealer on the short-term interest-rate desk.