CIBC hires senior FX options trader

The Canadian bank has built out its FX options desk in London

cibc-tower

David Pennell, a former executive director foreign exchange options trader at JP Morgan, has joined the Canadian Imperial Bank of Commerce (CIBC) in a similar role, according to a bank memo seen by FX Week.

Based in London, Pennell is responsible for ‘expanding the bank's FX options product offering in in growth markets', and reports to Pauric Hanna, executive director and currency options trader at CIBC.

Pennell had been at JP Morgan for nine years when he left last summer. He reported to then

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