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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.
Further departures at Morgan Stanley
LONDON -- Morgan Stanley’s recent FX staff exodus continued with the departure of another two in sales following two leavers last week.
eSpeed builds in forex
LONDON -- Technology vendor eSpeed has boosted its London office with three major hires.
Refco hires again – in New York
NEW YORK – Refco Group has added two new faces to its FX institutional sales team in the US, following the recent launch of its revitalised platform Refco FX ProTrader ( FX Week , December 20, 2004).
Prebon suffers further blow
LONDON – Prebon Yamane has suffered further blows in London, as parent Collin Stewart Liberty (CST) has rationalised the G7 currency options arena leading to the departure of a number of former Prebon staff.
Major rejig at Merrill desk in NY
NEW YORK – Merrill Lynch has seen significant changes to its FX desk in New York, following the departures of two managing directors.
Fixed-income reorg for BNP
LONDON/NEW YORK/TOKYO – BNP Paribas is set to reorganise its fixed-income business in a bid to breathe new life into the business.
Dresdner misery continues
FRANKFURT – The recent exodus from Dresdner Kleinwort Wasserstein has continued, with two more departures in the past month.
NAB rejig continues
SYDNEY – National Australia Bank (NAB) has continued its rebuilding process by hiring David Hicks as an Australian dollar forwards dealer.
CST merges G7 currency options desks
LONDON & SINGAPORE – Colin Stewart Liberty has merged the G7 currency options desks of Tullett Liberty and Prebon Yamane in London and Asia, FX Week has learned.
LloydsTSB adds to FX team
LONDON – Lloyds TSB Financial Markets has added to its London FX sales team in an effort to further penetrate the UK and European markets, said Jeremy Hodges, head of FX sales at LloydsTSB in London.
UBS bolsters its forex team
LONDON – UBS has started a ‘mini-restructure’ by adding to its London foreign exchange team.
Reshuffle at SG CIB
LONDON – SG Corporate and Investment Banking has confirmed changes to its team globally, with senior management moves around the globe.