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Merrill props up Tokyo
TOKYO -- Merrill Lynch is setting up a prop FX desk in Tokyo with the hires of two traders from Royal Bank of Scotland (RBS).
HSBC names new London chief
LONDON -- HSBC will have a new head of European and Middle Eastern FX in London in early May, when Andrew Brown transfers from Hong Kong to take on the key role.
BoE reappoints chief economist to MPC
LONDON--The Bank of England has announced that Charles Bean (right), its executive director for monetary policy and chief economist, has been reappointed to the monetary policy committee (MPC) for another three-year term.
JPMC fund trio make £55m
LONDON -- Three FX and fixed-income specialists who left JP Morgan Chase to set up a hedge fund have made profits of more than £55 million ($100 million) in their first year.
Desperately seeking analysts
LONDON -- Royal Bank of Canada, Westpac, ANZ and JP Morgan Fleming are all seeking to recruit senior currency analysts in London, as a flurry of activity has left several banks stretched to provide European FX market coverage.
JPMC fund trio make £55m
LONDON -- Three FX and fixed-income specialists who left JP Morgan Chase to set up a hedge fund have made profits of more than £55 million ($100 million) in their first year.
Idea commits to Singapore
SINGAPORE -- Financial research company Ideaglobal last week said it was committed to G7 and Asian market analysis from Singapore, following local press reports of retrenchment in the centre
Reuters names treasury head
LONDON -- Treasury is a main priority for Reuters this year, a spokesperson said last week, as the firm made Mark Robson global head of treasury and fixed income.
IFX hires futures desk head
LONDON -- London-based financial trading and spread-betting firm IFX is expanding its FX futures business, with the hire of a new head of desk.
BarCap loses three in institutional sales
LONDON -- Barclays Capital lost three institutional FX sales dealers in London last week, a source close to the bank confirmed.
UK salaries outpace Wall St
LONDON -- UK forex dealers fared better than their US counterparts this year, seeing a rise of about 20% in their bonus payouts on the back of volatility and continued dollar weakness, according to research made public by City recruitment firm Napier…
BoA elects post-merger board
CHARLOTTE -- Bank of America last week announced the members of the new board to be created by its April 1 merger with FleetBoston.
Deutsche NY adds in sales
NEW YORK -- Deutsche Bank has made four appointments to its FX sales team in New York over the last two months. Chris Beane joins today (March 29) to manage FX sales to real-money clients. He leaves State Street where he held a similar role.
Chinese liberalisation driving increased demand for sales staff
HONG KONG -- Foreign exchange sales staff with expertise in China are set to be in particular demand in 2004, according to recruitment specialists in the Asia-Pacific.
HSBC reaps rewards in US
NEW YORK -- HSBC has seen a threefold increase in FX client volume in North America over the past year, following its recruitment drive in the region. And gains made in the first quarter of 2004 suggest it is continuing to build that volume "at a very…
Watchdog savages NAB
MELBOURNE -- National Australia Bank’s currency options desk will remain closed until it has satisfied requirements issued by its regulator in a damning report released last week.
Calyon names regional managers
PARIS -- Calyon, the group to be formed from the merger of Crédit Agricole Indosuez (CAI) and Crédit Lyonnais (CL) on April 30, has agreed the structure of its global spot FX business and appointed regional heads, a senior official said last week.
Deutsche names trading chiefs
LONDON -- Deutsche Bank has promoted its London head of FX trading, Gordon Wallace and Singapore manager Nitin Gulabani, to become co-heads of global FX trading.
Lehman raids Merrill team
LONDON -- Lehman Brothers has raided rival investment house Merrill Lynch for a team of three FX options dealers in London, according to sources close to the bank.
Seven leave Dresdner in FX flight
LONDON -- Dresdner Kleinwort Wasserstein in London is facing an exodus of staff from foreign exchange, with at least seven leaving the bank in London and New York in the past month.