News
Traditional reserve currencies on the decline, says Pimco
Pimco's chief operating officer is bearish on major currencies, expressing the fund's preference for emerging markets, particularly the ruble and renminbi
Market conditions point to uneven global recovery, says Treasury official
Speaking at FX Week USA conference, Daleep Singh acknowledges the improvement in economic conditions in the US but calls for a more balanced global recovery
CFTC cross-border rules slammed as ‘rushed’
The CFTC appears to have made some concessions in its cross-border rules, but critics question how substituted compliance will work, and claim the overall framework has been rushed
SEB veteran Dubajic moves to Aphelion
Electronic FX salesperson Henrik Dubajic departs after almost 20 years at the Swedish bank
RBS loses Harding in Emea sales
Jonathan Harding's departure follows that of former BAML colleagues Graham Wintersgill and Mark Webster
Griggs departs JP Morgan Asset Management
Changes at JP Morgan's asset management arm see Roger Hallam promoted and two new heads for the firm's global quantitative group
BTMU hires from Barclays in e-FX sales
Ericka Bratsiotis has joined Bank of Tokyo Mitsubishi UFJ; other staff changes at the Federal Reserve, Deutsche Bank and Goldman Sachs
BAML hires transactional FX head
Mike Robertson joins Bank of America Merrill Lynch from HSBC, reporting to Chris Bae, Tom Gillie and Jim Coulton
CFTC-EC cross-border agreement causes concern
Lawyers warn allowing strictest regulation to prevail will create heavy-handed regime, and regulators have still not fully aligned on treatment of FX swaps
Morgan Stanley re-hires FX salesman from Deutsche
Chris Hewitt is returning to Morgan Stanley in real-money sales, after a four-year hiatus at Deutsche Bank
Nomura expands with senior FX hires
Adam Redland has joined in FX sales in London, while Glenn Phillips joins in options trading in Singapore
Hedge fund sales head exits RBS
Graham Wintersgill, head of FX hedge fund sales, has resigned from Royal Bank of Scotland, just months after the exit of Mark Webster, to whom he reported
EBS Direct on-target for full launch, says Icap
Beta testing has been successful and the new disclosed liquidity pool will be fully rolled out later this year, says Michael Spencer
ANZ hires FX investor sales head
Australian bank has appointed Tim Moloney, formerly of Barclays, to replace Thomas Mummert in the top sales role
FXPB product head exits Credit Suisse
Andrew Rosoman leaves Swiss bank after 11 years to join a competitor
FTT would ‘drain financial resources’, GFXD research claims
The global FX division is upping its lobbying efforts to have FX derivatives carved out of the financial transaction tax with new research that shows the potential impact of the tax on transaction costs
FX investors struggle to exit illiquid EM currencies
A rush to sell certain EM currencies in recent weeks has led to a dearth of liquidity and heightened the risk for buy-side firms
Moscow Exchange to add more ruble products by year-end
The addition of new FX swaps and futures is expected to push further growth on the Moscow Exchange, officials say
Regulation deters currency managers from retail FX
Mifid requirements for enhanced transparency and due diligence for retail investors makes retail FX less attractive for some currency managers
No CVA exemptions in US Basel III rules
Europe isolated as US regulators opt for broad counterparty risk charge
Ex-Credit Suisse FX client adviser to join Cambridge Associates
Adam Duncan will join advisory firm next month; new role in London for Robert Mandeno at Deutsche Bank
‘Sef-lite’ environment remains confusing for platforms
Market participants still unclear on the implications of the requirement for multibank platforms trading non-cleared swaps to register as swap execution facilities
Nomura loses e-FX sales head in New York
Ralitza Fortunova has left the Japanese bank after three-and-a-half years
StanChart hires FX salesman from Lloyds
Richard Turner has joined Standard Chartered's investor sales team under Declan McEvoy