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Barclays Capital gains and loses
LONDON – Barclays Capital has lost staff in London but gained in Asia.
Gold gains shine for FX desks
LONDON – Increased buy-side buying of gold, as an alternative to currency reserves, is likely to prompt more banks to move their precious metals business under the FX remit, say market participants.
Forex structurers in demand
LONDON and NEW YORK – Structurers are in demand across different markets as FX desks look to build higher margins, according to market participants.
Deutsche’s Coyne BarCap bound
LONDON – Andy Coyne, head of FX prime brokerage at Deutsche Bank in London, is to leave to run e-commerce for Europe at Barclays Capital, in the same city.
Merrill adds FX to rates desk
NEW YORK – Harry Lengsfield, global head of rates at Merrill Lynch in New York, has expanded his responsibilities to include FX. He takes on the extended title of managing director and head of global rates and FX, global markets and investment banking.
Ex-NAB traders to stand trial
MELBOURNE – Vincent Ficarra and Gianni Gray, two former National Australia Bank (NAB) forex options traders, are to stand trial for their part in the A$360 million rogue trading scandal uncovered by the bank last year.
Three into one for GFI
LONDON – GFI Group is bringing together staff split between three locations in London to a single site in Broadgate West.
Lehman loses sales head
NEW YORK – Mark De Gennaro, head of FX sales at Lehman Brothers in New York, has left the bank, the desk has confirmed.
Headhunters out in the cold
LONDON – Banks are increasingly hiring FX staff from competitors directly, forcing search firms to focus more on other asset classes, according to market participants.
West LB closes London prop-trading desk
LONDON – German bank WestLB has closed its London prop-trading desk, according to market sources.
Saxo opens London office
COPENHAGEN AND LONDON – Danish forex specialist Saxo Bank is to open a London office early next year, as it aims to gain traction in the hedge fund and institutional markets.
ABN Amro chooses Singapore for currency futures base
SINGAPORE – Dutch Bank ABN Amro has restructured its regional futures business, and is moving staff from its Sydney office to operate out of a single office in Singapore.
Lehman hires new trade head
NEW YORK – Lehman Brothers has hired Jason Margiotta as head of forex forwards trading, New York, FX Week understands.
Citi continues Vasp build-up
LONDON – Citigroup has made two hires as it builds its FX risk advisory and structured products teams in London. Both teams sit within the bank's value-added services and products group (Vasp) which it established a year ago ( FX Week , September 20,…
Icap takes on Prebon's rate derivatives team in Sydney
SYDNEY – Interdealer broker Icap is to take on the former Sydney-based interest-rate derivatives team of Prebon Group, which was bought by London-based financial services group Collins Stewart Tullett in October 2004.
DrKW targets digital markets division
GLOBAL – German investment bank Dresdner Kleinwort Wasserstein (DrKW) is establishing a new digital markets division aimed at developing and operating electronic and web-based trading, execution and analytical services for FX and other asset classes.
RBS hires Japan eCommerce head
TOKYO – The Royal Bank of Scotland Financial Markets has hired Junko Kawada as head of eCommerce sales, Japan, as part of efforts to build its eCommerce business in the region.
Saxo adds three to Copenhagen team
COPENHAGEN – Danish FX specialist Saxo Bank has made three additions to its institutional sales and strategy teams in Copenhagen.