HSBC
Spotlight on: Beng-Hong Lee, Deutsche Bank
Deutsche’s head of offshore renminbi in Shanghai talks to Joel Clark about his role in leading the bank’s efforts in the new currency, and where he believes the biggest opportunities and challenges lie
BBVA expands in London with key hires
The Spanish bank has appointed Malcolm Day, formerly of HSBC, as global head of emerging markets FX sales
Grexit bets intensify on election fears
Forex strategists remain divided on the political fallout from landmark Greek elections, and the likely effect on the euro
FXSpotStream will cut costs and inefficiencies, say banks
The liquidity providers behind FXSpotStream believe the new platform adds genuine value to the FX spot market by directly tackling the challenges that exist on traditional spot platforms
Banks continue to ramp up in offshore RMB
Top-tier banks are continuing to invest in their offshore renminbi trading capabilities, despite the recent dip in Chinese growth and the challenge of persuading clients to use the new currency and boost liquidity
ANZ’s Yetsenga promoted to head global research
ANZ promoted Richard Yetsenga in April, less than a year after he joined the bank from HSBC as head of FX research
HSBC builds out offshore renminbi crosses
Rates continuously streamed on interbank platform for direct offshore renminbi crosses for the first time
FXSpotStream’s no-fee business model raises eyebrows
The new multibank aggregation service supported by six top-tier banks will not charge brokerage fees either to banks or clients – a model that has led to questions over longevity
Greece will stay in the eurozone, says Deutsche’s FX strategy head
Alan Ruskin explains why a Greek exit is less likely than some have suggested, with several factors supporting the country’s future in the eurozone
Forex markets absorb political chaos in Europe
Participants reacted relatively calmly to political developments in Europe last week, and the absence of credible alternative currencies prevented a major sell-off
Westpac continues FX hiring spree
Blake Jensen, formerly of RBS, has joined Westpac in institutional sales as the latest in a number of key hires across sales and trading globally
Moore and Francis step up at Lloyds
Richard Moore and Clare Francis have been promoted to new management roles in the wholesale banking and markets division at Lloyds
Trading places, May 7, 2012
New appointments at Barclays, BNP Paribas, Nomura and Goldman Sachs, while Isda adds three to its board
Offshore renminbi bond market to take off in 2012
A maturing market combined with deregulation is sustaining demand for offshore renminbi bonds in the face of slowing RMB appreciation. Saima Farooqi reports
The year of the dim sum bond
A maturing market combined with deregulation is sustaining demand for offshore renminbi bonds in the face of slowing RMB appreciation. Saima Farooqi reports
HSBC hedge fund sales head to join JP Morgan
Michael Spencer, who has resigned from HSBC, is expected to join JP Morgan to work in hedge fund sales
Saxo’s Maasland joins Knight Capital
Albert Maasland, formerly London chair at Saxo Bank, is to head Knight Capital's international business
HSBC in Hong Kong retail forex foray with Oanda
HSBC launches margin FX trading services for retail investors in Hong Kong using technology by Oanda
Slater and Holdcroft to join Bozian in CLS exit
Deputy chief executive officer Peter Slater has resigned from CLS, while both chief executive Alan Bozian and chief legal officer James Holdcroft will also leave the firm
City’s top brass throws weight behind London RMB initiative
London will become the next offshore centre for RMB trading, vows UK chancellor George Osborne, supported by banking chiefs from Bank of China, Barclays, Deutsche Bank, HSBC and Standard Chartered
HSBC on top with slow-burn forecast on yen weakness
Strategists at HSBC took the view in early January that the yen would weaken, but less acutely than some anticipated, landing the bank at the top of the three-month forecast rankings
Trading places, April 16, 2012
Appointments at Man Group, Renaissance Capital, Icap, TD Securities and Tabb Group, while HSBC loses head of eFX sales for Emea
Trading Places, April 2, 2012
New appointments at Macquarie, Numerix and the Swedish central bank, while SGX announces a major restructuring
China and Australia sign A$30bn currency swap
Australia joins the ranks of central banks with a bilateral currency swap line with China; reflects increased use of renminbi and closer trading ties between the countries