Alliance & Leicester boosts FX

Andrew Hemmings joined the bank last week as senior manager for its treasury risk solutions division in the City. Hemmings was hired to manage FX, interest rate exposure and currency derivatives for business and corporate customers across London and the south-east region.

Previously, the bank offered FX and interest rate spot and forwards on a reactive basis to client demand, but last year the board decided to develop and market a full range of treasury products. The bank is looking to hire two to three staff a year as the products are gradually rolled out, and depending on its success.

Hemmings joins the bank from HSBC, where he was deputy head of business development for corporate trust services. At Alliance & Leicester, he reports to Mike Bligh, head of treasury risk solutions.