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Deutsche Postbank loses staff post ING-BHF Bank acquisition
LONDON – Deutsche Postbank, which bought ING-BHF Bank in London on January 1, is understood to have lost several in its FX dealing room team since the acqusition.
Danske relocates sales head
NEW YORK – Sander Fynboe, global head of sales at Danske Bank in New York, is transferring to the London office, the bank has confirmed.
Merrill Lynch hires globally
NEW YORK – Merrill Lynch has boosted its global trading desks with appointments across three continents.
FX faces employee shortage
LONDON – The FX industry could face an employee shortage unless banks start recruiting younger staff, say market participants.
HSBC adds in FX options
LONDON -- HSBC has gazumped Goldman Sachs in hiring Patrick Schartner for its sales team.
BoA continues FX hiring spree
NEW YORK & LONDON -- Bank of America (BoA) has announced more changes on both sides of the Atlantic as it continues its new year hiring spree.
Lloyds TSB to open night desk
LONDON -- Lloyds TSB will be opening a forex night desk in March as part of its continued expansion into FX.
Wachovia adds in UK and HK
LONDON & HONG KONG -- Wachovia Bank is continuing its expansion in Europe and Asia with two recent hires.
NAB gears up for forex options restart
SYDNEY -- National Australia Bank (NAB) has hired in preparation for the re-launch of its forex options desk, following its closure last year as a result of a trading scandal.
ABN begins restructuring
LONDON -- ABN Amro’s restructuring has led to the first forex casualties.
Trio departs Lehman Brothers
NEW YORK & LONDON -- Lehman Brothers is the latest bank to see high-profile departures from its desk, with the exit of three senior members of staff.
Lebanese central bank to keep currency stable
BEIRUT -- The Central Bank of Lebanon has vowed to keep the Lebanese pound stable, after last week’s assassination of former prime minister Rafiq Hariri.
Banks focus on mid-caps
LONDON -- Commercial banks are focusing more on mid-cap corporates this year as an alternative to the ‘over-banked’ blue chip firms, say market participants.
Further cuts at German banks
NEW YORK & DÜSSELDORF -- WestLB has closed its FX trading desk in New York and is beefing up its Düsseldorf team, the latest in a series of restructurings by German banks.
BNP hires Italy FX sales head
LONDON -- BNP Paribas has hired Guido Williams in a new position as head of fixed-income derivatives and foreign exchange sales to Italian corporates and head of FX sales to Italian banks.
RBC loses rates strategist
LONDON -- Jeremy Stretch has left his role as rates strategist at RBC in London to join Rabobank as a currency strategist. He replaces Lee Ferridge, who has taken up a role as prop trader for the bank in London.
SSGM adds to Global Link team
BOSTON -- State Street Global Markets (SSGM), the investment research and trading arm of State Street, has made two new appointments in Boston.
Commerzbank out of NY
NEW YORK & FRANKFURT -- Commerzbank has closed the remainder of its FX trading desk in New York, as part of its streamlining of the trading business back to Frankfurt.
Dresdner starts rebuilding
LONDON & FRANKFURT -- Dresdner Kleinwort Wasserstein (DrKW) has hired some new faces, as it begins to rebuild its FX team following a series of departures over recent months.
BNP loses emerging markets head
LONDON -- Angus Galletley, head of emerging markets at BNP Paribas in London, has left the bank. Galletley was head of EM local markets and options for central/eastern Europe at the French bank.