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Ex-NAB traders charged
MELBOURNE – Four traders were charged last month for their involvement in the A$360 million rogue trading scandal uncovered at National Australia Bank last year.
StanChart in global sales push
SINGAPORE – Standard Chartered has carried out a major restructuring of its sales team in a bid to boost growth, according to David Carr, global head of sales and e-commerce at the bank in Singapore.
German turnover continues
FRANKFURT – The swift movement of German bank forex staff has continued into 2005, with Commerzbank's high-profile hire of Klaus Hoffmann, chief trader from rival Dresdner Kleinwort Wasserstein (DrKW) in Frankfurt.
Refco hires in London
LONDON – Refco Group, the US FX prime brokerage firm, has made three new hires to its FX sales team to join in the coming weeks, and one internal hire in a bid to build platforms such as FXProTrader.
RBS boosts Asia presence
HONG KONG -- The Royal Bank of Scotland (RBS) has boosted its presence in Asia over the year in its bid to become a seamless global operation.
UBS's Stadelmann set to relocate
SINGAPORE -- Reto Stadelmann, UBS's global head of risk for FX and cash and collateral trading (FXCCT), is to split his time between Zurich and Singapore. The move is designed to improve management's effectiveness in Asia, according to Seth Cohen, global…
Soc Gen makes global changes
LONDON -- SG Corporate and Investment Banking (SG CIB) is making changes to its sales desks around the world.
Dresdner joins cutting queue
FRANKFURT/NEW YORK – The future for FX staff at Dresdner Kleinwort Wasserstein (DrKW) looks bleak as the bank makes major job cuts on a global scale.
Private bank closure to hit Citibank's forex in Japan
TOKYO – The closure of Citibank Japan's private banking operation will lead to a haemorrhaging of staff from the forex team in the country, according to market sources.
Danske staff in relocation dilemma
NEW YORK – The future of FX staff at Danske Bank in New York remains unclear as the bank begins relocation negotiations with a number of its staff.
NAB reshuffles Asian markets
MELBOURNE – National Australia Bank (NAB) has reorganised its markets division in Asia. Hong Kong-based co-head of markets for Asia Doug Goldsmith will relocate to Sydney to take up a new role as head of interest rate markets.
Radianz hires Pickles for Fix
NEW YORK -- New Yok-based connectivity provider Radianz has appointed Chris Pickles as chairman of the Europe education and marketing committee of Fix Protocol (FPL). Fix Protocol is atrade association, of which Radianz is a member.
HSBC hires new Asian FX strategist
HONG KONG -- HSBC has hired Richard Yetsenga as regional currency strategist for Asia, to be based in Hong Kong. Yetsenga joins from Deutsche Bank in Sydney, where he was currency strategist and deputy chief economist.
More banks set to cut back?
LONDON/NEW YORK -- The cut in headcount by banks in London and New York in recent weeks is likely to continue, said market participants.
CSFB names new fixed-income sales and trading head in Japan
TOKYO -- Credit Suisse First Boston (CSFB) has named Carsten Stoehr as head of Japan fixed-income sales and trading.
Forex strategists en vogue
LONDON – FX strategists are at a premium because banks can no longer differentiate themselves on price. As a result, the recent high turnover of strategists is being driven by tighter pricing, say market sources ( FX Week , August 30).
Commodities finding favour
LONDON – Commodities-related business could make up to 20 times more for FX sales desks next year compared with 2003, according to a leading market player.