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HSBC doubles EM strategy
NEW YORK – HSBC is doubling staff on its emerging markets (EM) currency strategy team to four, to help support the bank's growing sales and trading coverage of the sector.
Koram takes merger lead
SEOUL – Koram Bank's senior executives are taking the top positions in the merged FX group formed by Citigroup's purchase of the Korean bank, which starts trading as one entity on November 1.
Icap launches JV in Korea
SEOUL – KIDB-Icap, a joint venture between global inter-dealer broker Icap and Korean inter-dealer broker KIDB, has begun broking FX and interest rate derivatives in Seoul. The move takes place following the green light for the venture from the Ministry…
Swapstream names new chief executive
LONDON – Swapstream, a medium- and long-term interest rate swaps trading platform, has made Stéphane Rio chief executive, based in London. Rio previously headed rates trading at Commerzbank in London for five years, and replaces Marcus Grubb, who left…
SuperD adds 14 in global sales
LONDON – Super Derivatives has taken on 14 sales and support staff, as it tries to expand its coverage in the foreign exchange market and break into other asset classes.
Trading places
Calyon hires EM dealer
FX chief joins Pru exit queue
LONDON – The departure of Howard Carr, head of FX and commodities at Prudential Bache in London, has sparked fears for the future of the bank's FX desk in the city.
BNP expands institutional forex
LONDON/NY – BNP Paribas has hired three institutional FX sales dealers in London and New York in the past month as the bank continues to develop coverage for this growing client sector.
Alex Mann adds to FX search team
LONDON – Recruitment firm Alexander Mann has expanded its FX search team, with the appointment of Tony Marshall as head of UK and European capital markets from rival AT Kearney. His appointment follows the August hire of Shani Shamah as a director in…
Bear expands EM trading
LONDON – Bear Stearns is expanding its European emerging markets trading desk in London with two new hires from Calyon and two more planned additions in the new year.
Margin squeeze benefits Japan derivatives dealers
TOKYO – Derivatives dealers in Japan are in demand, as spread compression in vanilla FX has prompted foreign banks to look elsewhere for margin.
Dalman quits Commerzbank
FRANKFURT – Mehmet Dalman, previously a board member and head of investment banking at Commerzbank AG in Frankfurt, is launching a new fund group called Wealth Management Group (WMG) in London.
Deutsche Bank builds research
LONDON – Deutsche Bank has reshuffled its FX research team following the departure of global head of FX research Michael Rosenberg earlier this summer.
Westpac continues reorg
SYDNEY – Westpac has hired and transferred a number of FX dealers around the world as it continues a restructuring started with the appointments of co-heads Paul Verschuer and Paul Quilkey in April ( FX Week , April 26).
Foley sets out FX stall at Gelber
CHICAGO – Justin Foley, who joined Gelber Trading ( FX Week , August 30) in Chicago last Monday, has started to lay the foundations for the foreign exchange division.
Barclays aims to crack Asia
SINGAPORE – Barclays Capital has made a number of hires in Asia, in a bid to boost its presence in the region.
Goldman prop traders 'to retire'
LONDON – Goldman Sachs is to lose its two chief London-based prop traders at the end of the year.
DrKW hires former Merrill boss
LONDON – Dresdner Kleinwort Wasserstein has hired Steve Bellotti, a former FX trading and sales head at Merrill Lynch, to become its new global head of capital markets in London.
Mellon takes Citi VP
LONDON – Mellon Bank has expanded its European asset manager FX sales desk in London with the hire of Ben Holder from Citigroup.