News
RBC hires new head of EMEA strategy
LONDON – RBC Capital Markets (RBC) has hired Robert Beange as a managing director and head of strategy for Europe, the Middle East and Africa (EMEA), it announced on June 28.
Bache adds to London FX team
LONDON – Bache Commodities, a subsidiary of Prudential Financial, has hired Jonathan Webb as head of FX strategy and George Tsiourvas as a vice-president in FX sales.
Eurozone fiscal woes could be eased by EM exposure
Countries with sovereign debt problems, such as Spain, could benefit from their exposure to emerging market assets and currencies
Klaus Regling to head euro bailout vehicle
German economist and former director-general Klaus Regling to head European Financial Stability Facility set up to bail out troubled eurozone states
Deutsche makes two senior hires in Moscow
MOSCOW – Deutsche Bank has hired Bulent Ilgun as head of treasury, and head of rates and FX trading in Russia, it announced on June 30. It also announced the hire of Evgeny Monakhov as head of equity sales for Russia.
Trading Places, July 5, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
BIS highlights risks of resurgent carry trade
Rate differentials make carry trades attractive, but this could cause trouble
In Brief, July 5, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Execs would not be surprised if eurozone shrinks, report claims
RBC Capital Markets survey says Greece most likely country to leave the eurozone
Asia lukewarm to renminbi despite dollar-depeg
Importers and exporters that trade with onshore Chinese companies are having second thoughts about using the renminbi to settle their trades in place of the US dollar.
Morgan Stanley looks to extend Matrix
LONDON - Morgan Stanley is set to launch streaming Asian and Latin American non-deliverable forwards (NDFs) next month, on its cross-asset front end, Matrix, following its recent global launch.
BNPP eyes European FXPB business
BNP Paribas moved steadily to launch into the foreign exchange prime brokerage market with the acquisition of staff and infrastructure from defunct insurance company AIG last year. But with that business focused on the US, rivals argue the French dealer…
EU regulation will force insurers to up FX hedging programmes
BRUSSELS - The EU’s current proposals for risk-based insurance regulation – referred to as Solvency II - will result in firms based in countries with shallow domestic bond markets ramping up up their FX hedging programmes, according to Lars Oswald Dahl,…
Credit Suisse continues Asia build
HONG KONG - Credit Suisse made a significant push to expand its presence in the foreign exchange market in the Asia-Pacific, with six sales hires in Japan, Singapore and Hong Kong.
Deutsche loses two in San Fran but gains in New York
SAN FRANCISCO & NEW YORK - Deutsche Bank has lost two foreign exchange salespeople in San Francisco but gained one in New York, according to market sources.
In Brief, June 28, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Trading Places, June 28, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Popofsky quits BNPP
NEW YORK – Garry Popofsky resigned from BNP Paribas yesterday (June 24), according to an internal memo.
UBS hires former BarCap sales duo
LONDON – UBS has hired George Athanasopoulos and Richard Longmore in senior sales positions in London, according to internal sources.
Sifma members lose confidence in risk capabilities
A declining number, falling below 5%, of Sifma member firms are comfortable with their risk management capabilities, according to an updated survey of 240 Wall Street participants conducted by IBM, issued at the Sifma Financial Services Technology Expo…
Chris Lee reappears at Deutsche Bank as head of GMIP and db-X, Asia
Deutsche Bank has hired Chris Lee as head of structured products for Asia, just a few months after he left a similar position at UBS
BAML brings in new head of EMEA FXPB
LONDON – Bank of America Merrill Lynch (BAML) has hired Mark McDonnell to head its foreign exchange prime brokerage team for Europe, the Middle East and Africa (EMEA) from London, according to an internal memo.
China moves on currency
BEIJING - The Chinese yuan fell significantly against the US dollar in Asian trading today, as markets reacted positively to the People’s Bank of China’s plans to disband the US dollar peg.
Credit Suisse loses Hassan but gains in EM
LONDON, NEW YORK & HONG KONG - Credit Suisse has lost an FX salesperson in London but has kept its eye on the prize with a series of hires in Hong Kong targeting emerging markets.