People
McKenzie resurfaces at Lava Trading
NEW YORK – Allan McKenzie has joined US-based vendor Lava Trading as head of EMEA sales for LavaFX in London.
Landesbanks hit by EU ruling on credit ratings
MUNICH – Landesbanks are facing a significant loss of FX business from July, as EU rules will hit their credit ratings.
Swedish minister’s euro warning
STOCKHOLM – The Swedish decision to stay out of the euro will lead to vulnerability for the currency and economy, according to Pär Nuder, Swedish minister of finance.
Refco moves staff from Vienna to London
LONDON – Refco Group, the US brokerage firm, has relocated another three FX traders to London from its Vienna office.
Q&A: John Nelson
To mark 15 years of FX Week , we carry a Q&A with our first subscriber, look at three major pairs opposite and run three of the key stories shaping the industry
Changes at ABN Amro
AMSTERDAM – ABN Amro has made a number of changes to the senior management of its FX team and is restructuring its Asian operations.
RBS increases sales force
LONDON AND MADRID – Royal Bank of Scotland (RBS) has made two new appointments in London and Madrid as it continues to build up its European sales presence.
JP Morgan loses two in London
LONDON – JP Morgan Chase has lost another two members of staff from its London office. Tracey Rodriguez has resigned from her role as a senior salesperson, covering interest rate products and reporting to desk head Sikander Ilyas.
Westpac building global presence
SYDNEY AND LONDON – Westpac has made an addition to its FX desk and relocated two staff to its London office as it continues to build its global FX presence.
Technology forcing change in forex staff skills set
LONDON – The rapid pace of technological change is leading to a ‘paradigm shift’ in how foreign exchange staff are employed, according to Ray McKenzie, director of forex products at the Chicago Mercantile Exchange (CME).
BNP completes FX changes
PARIS – BNP Paribas has restructured its FX desk, following on from the wider changes made during the fixed-income reorganisation earlier this year ( FX Week , January 24).
Further departure at CBA
LONDON – Commonwealth Bank of Australia (CBA) in London has lost another senior member of staff, with the departure of Jonathan Klein, head of investor sales, client acquisitions, Europe.
NAB in global build-up
SYDNEY AND NEW YORK – National Australia Bank (NAB) has made myriad hires to its global FX team, as it continues rebuilding the business following last year’s notorious rogue trading scandal.
DrKW adds two in London
LONDON – More FX sales team hires have been made at Dresdner Kleinwort Wasserstein (DrKW) in London, adding to the 20-plus hires it has made globally since its restructuring late last year.
BNP loses sales head
NEW YORK – Drew Gross, head of North American FX sales at BNP Paribas in New York, has resigned from his role, FX Week has learned.
Deutsche builds in FX
GLOBAL – Deutsche Bank has made a series of hires to build up FX globally.
French revolution in London
PARIS AND LONDON – French sales staff are in demand, as a number of banks look to penetrate a market made difficult by sophisticated, price-aware clients.
SEB creates hedge fund team
STOCKHOLM – SEB is to set up a new sales desk to focus on building its hedge fund clients, according to global head of FX Marcus Nysten.
Forex first for Korea First Bank
SEOUL – The purchase of Korea First Bank (KFB) by Standard Chartered is set to create the biggest FX desk in Korea, according to senior representatives at both banks.