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Tradition takes 10% stake in IFX Group
LAUSANNE -- Swiss broker Compagnie Financière Tradition has taken a 10% stake in UK online trading firm IFX Group, the firm announced last week.
Fimat adds for hedge funds
LONDON -- Fimat, the brokerage arm of French investment bank SG, has consolidated its alternative investment offerings under the single brand Alternative Investment Solutions (AIS) to boost services to the hedge fund industry.
Changes afoot at Merrill Lynch
NEW YORK -- A major restructuring of Merrill Lynch’s FX management is underway, according to sources close to the bank in New York.
BoA appoints Mandell as global FX head
NEW YORK -- After months without a global head of its FX business, Bank of America has appointed veteran Christiane Mandell to the role, the bank is expected to announce today (February 9).
Lloyds TSB seeks regional corporate dealers for FX
LONDON -- Lloyds TSB is seeking corporate FX sales dealers for its regional offices across the UK, as part of an effort to increase market share, a London spokesperson told FX Week .
More NAB departures touted
MELBOURNE -- Banking analysts are expecting more departures from National Australia Bank in the wake of its forex options scandal, as chief executive Frank Cicutto resigned last week.
BoA expands Euro fixed income
LONDON -- Bank of America has made four London-based hires to its European fixed-income business, the bank announced last week.
HSBC NY makes senior appointments in forex
NEW YORK -- HSBC has made two senior hires to its New York FX business.
Fix appoints forex co-chairs
NEW YORK -- The Fix Protocol FX working group has appointed Jack Lemonik, chief technology officer at FXall in New York, and Steven Donovan, director of investment technology at investment manager Massachusetts Financial Services (MFS), as its co-chairs.
Citi’s Moore promoted
LONDON -- Citigroup will have a new senior management structure for foreign exchange, following the announcement last week that current global FX head Richard Moore has been promoted to head of European fixed income.
Merrill’s bonuses disappoint
LONDON -- Many FX dealers at Merrill Lynch were disappointed with their bonuses this year, despite a good year in FX at the US investment bank, recruitment consultants reported last week.
ANZ hires two for investor sales
SYDNEY -- ANZ Investment Bank has made two senior hires to its FX investor sales team, it announced last week.
State Street’s Snyder becomes head of NY FX committee
NEW YORK -- Mark Snyder, State Street’s global head of currency and money market sales and trading, took over as chairman of the Foreign Exchange Committee in New York last week.
Job fears over latest mega merger
NEW YORK -- FX jobs at Bank One may be in danger when JP Morgan Chase’s planned acquisition of the Chicago-based bank takes place in Q2, said recruitment consultants in New York and London last week.
Banks buy out bonuses to fill seats in new year markets buzz
LONDON -- The recruitment industry has started with a bang this year, replicating heavy activity in the currency markets.
Citi plugs Dutch sales gap
AMSTERDAM -- Citigroup has transferred two FX sales dealers to Amsterdam, to cover growing business from Dutch institutional clients.
Lehman dealers move in Tokyo
TOKYO -- FX staff at Lehman Brothers in Japan are preparing for an imminent move to Roppongi Hills Mori Tower in central Tokyo. The relocation is part of a project that will see all the bank’s 800 staff in the Japanese capital migrating to the new site…
Dollar slide hits bonuses
LONDON -- Recent US dollar falls are expected to negatively affect the bonuses paid to European staff of US banks. Forex dealers expecting large increases in their bonus awards as a result of stellar performances in FX are likely to be disappointed when…
