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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.
New RBC bullion team takes shape
LONDON – Jason Henderson is to move to London in January to head RBC Capital Markets' bullion team, which opens as a market maker on December 1.
Commerzbank "exits London"
LONDON – Commerzbank is to close its trading and sales forex operations in London.
UBS holds onto pole position
LONDON – UBS is the top-rated bank in FX, according to the 1400 voters in FX Week's 10th annual survey of the market.
RBC restructures forex desk
TORONTO – Royal Bank of Canada (RBC) has restructured its foreign exchange desk following the departure of managing director of FX Rob Wittmann.
StanChart China head resigns
HONG KONG – Standard Chartered's top man for greater China in Hong Kong, Peter Wong resigned from the bank last Monday, November 15 effective from November 19. Wong's departure comes at a controversial time for the bank which a week prior said it would…
All change as ANZ restructures
MELBOURNE – Rick Sawer, managing director of ANZ's foreign exchange and commodities division is to leave the bank following a decision to restructure the business.
UBS holds onto pole position
LONDON – UBS is the top-rated bank in FX, according to the 1400 voters in FX Week's 10th annual survey of the market.