GFXD beefs up with senior European hire

- Joel Clark
- 24 Jul 2013

The global foreign exchange division (GFXD) of the Global Financial Markets Association (GFMA) has appointed Andrew Harvey managing director for Europe.

Based in London, Harvey started in his new role on Monday and reports locally to James Kemp, managing director of the global FX division. He joins from Morgan Stanley, where he worked for seven years, initially as head of FX operations for Europe, the Middle East and Africa, then global head of FX and emerging markets derivatives operations, and latterly chief operating officer of derivatives operations. Prior to Morgan Stanley, he spent nine years in FX operations at Goldman Sachs.

Harvey's appointment follows the recent departure of Matt Lewis, who had been a director in the global FX division. In his new role, Harvey will be responsible for engaging with senior policy-makers on several European regulations that will affect the FX market, including the European Market Infrastructure Regulation (Emir), the Markets in Financial Instruments Directive (Mifid) and the Financial Transaction Tax (FTT). He will also co-ordinate global coverage of the G-20 trade reporting requirements for the FX market, including the US, Canadian, Hong Kong, Singapore, Australia and European jurisdictions.

"Global regulatory reform coupled with implementation challenges mean Andrew's experience and knowledge of the foreign exchange markets will be invaluable, as the GFMA seeks to ensure that, in the context of this unprecedented market reform, the FX market continues to be efficient, liquid and accessible to all participants. His experience will enhance the division's ability to respond proactively to regulatory demands, including ongoing dossiers such as Mifid, Emir and the FTT," says Kemp.

Established in 2010 to monitor regulatory developments and assist the FX market in ensuring positive outcomes and building the necessary infrastructure, the global FX division comprises 22 of the largest FX banks. Headed by Kemp, it is also staffed by Mandy Lam in New York and David Ngai in Hong Kong.