Citi plugs Dutch sales gap

Heather Alger will join the Amsterdam team next week from Citigroup in Chicago, where she is a corporate FX sales dealer. Martijn Jansan has already transferred from the custody department at Citi in Amsterdam to fill the other vacant role.

Jansan and Alger report to Jan Nord, FX sales head, Amsterdam.

An un-named source at Citi said it also expects to hire a third Dutch sales dealer by the end of this quarter to take the Amsterdam-based team to five. Sales dealers in London also cover some Dutch clients.

Nord said banks have recently identified the Netherlands as an area for growth as Dutch institutions are generally active currency traders, although banks’ FX sales teams have remained small.

A London-based FX recruiter added that despite this growing interest, there are too few candidates in this sector, which has intensified demand for those that are available.

The positions had been vacant since BNP Paribas hired Martin Knol and James McHardy from Citi in October to expand its institutional Dutch sales team from three to five (FX Week, November 10). A new manager for that team, Dietert Wesselius, subsequently joined BNP Paribas in December as the bank identified Dutch institutions as a source of growth in both FX and fixed income (FX Week, January 5).

Citi and BNP Paribas are not the only banks to see opportunities in this sector. Deutsche Bank is seeking two sales dealers for its corporate derivatives team in Amsterdam to take headcount up to eight, said a spokesperson in London.

Meanwhile, Dresdner Kleinwort Wasserstein has not yet replaced Otmar Van Warbeek, who covered Dutch FX sales from Frankfurt and left last May (FX Week, June 2).

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