Foreign exchange
Beriot in shock move to Citi from SocGen
LONDON & NEW YORK - Citi has made a key hire from Société Générale in institutional sales, a week after the departure of Jan Bak, head of non-UK European institutional sales in London.
Euro to continue decline
LONDON – Analysts are predicting further euro weakness, expecting the unit to return to 1.2135, with the short covering correction be short-lived.
SEB targets Asia growth
SINGAPORE - SEB has relocated Seppo Leskinen, chief investment officer of the SEB Multi-Manager Currency Fund, to Singapore from London, to leverage demand for currency management by investors in the Asia Pacific region.
Euro pessimism pays off for 4Cast
4Cast topped this week’s three-month currency forecast rankings with a dual prediction for a decline in the euro and yen.
Asia's currencies steady under pressure
Callum Henderson, global head of foreign exchange research at Standard Chartered in Singapore, says the Asia play is far from over, despite the recent pullback in the region’s currencies
Hogan calls it a day at Nomura
Canice Hogan, head of fixed-income flow sales for Europe, Middle East and Africa at Nomura, retired on Friday, May 14.
UniCredit hires new head of FX cash
LONDON - UniCredit has hired Beat Nussbaumer as European head of FX cash. Based in London, he will start on May 17, reporting directly to Nick Crawford, global head of FX in London.
Glory Sky sees potential with GFI Fenics
NEW YORK & HONG KONG - Glory Sky Group, a Hong Kong brokerage house, has chosen GFI Fenics’ Professional to help manage its FX and commodities derivatives business.
Euro and sterling – love to loathe
Daragh Maher, foreign exchange strategist at Crédit Agricole in London, discusses the struggle of the euro and sterling in the face of recent political events, and asks which is winning the battle of the battered
OCC announces new directors
The Options Clearing Corporation (OCC) has named Craig Abruzzo and Valar Mihan as directors, and appointed director Paul Brody as vice-chairman. Brody replaces Gary Yetman, who completed his term at the end of April.
Headhunters report temporary hiring freeze in wake of volatility
Headhunters on both sides of the Atlantic have reported a distinct slowdown in foreign exchange hiring as banks take advantage of the high level of volatility to make some much-needed profit, thus halting candidate interviews.
Downes steps down at Citi
LONDON & HONG KONG – Nick Downes, head of FX bank sales for Europe, Middle East and Africa at Citi in London, resigned last week, according to market sources. Meanwhile, in Hong Kong, Stephenni Xie is reported to have joined Citi in FX sales.
European banks benefit from weaker euro
European banks reporting last week showed stronger balance sheets as the euro fell, but little growth in their FX businesses.
Briefs 17.5.10
Read this week's Briefs section to catch up on technology news.
Trading Places 17.5.10
Read Trading Places for this week's movers and shakers in the global FX space.
Informa: Dollar miles ahead of flagging euro and sterling
Informa topped the one-month currency forecast rankings with a bullish dollar view amid turmoil over the euro and sterling.
Dealer withdrawal sparks record volumes on traditional forex systems
LONDON - Citi, Deutsche Bank, Barclays Capital, Bank of America Merrill Lynch and Natixis were among dealers that pulled liquidity from external platforms on May 6, sparking a record trading day on traditional liquidity hubs, EBS Spot and Thomson Reuters.
Option prices rocket over euro crisis and UK hung parliament
LONDON – Options prices shot up dramatically last week as liquidity fell, amid long-term concerns over the European Central Bank’s (ECB) handling of the eurozone deficit crisis and uncertainty about the outcome of the UK election.
Chinese forex regulator warns against 'hot money'
BEIJING - Xiaoyi Wang, deputy governor at the State Administration of Foreign Exchange (Safe) has warned against the inflow of 'hot money' into emerging markets, as the risk of a worsening asset bubble continues.
China draws on Japan experience
The message was clear at the FX Week China congress in Beijing last Tuesday, China will move on its currency, but at it’s own pace.
Trading Places 10.5.10
Read this week's people moves in the FX space across the globe.
Rieunier takes on options head role at Saxo
COPENHAGEN - Saxo Bank has hired Gustave Rieunier in a newly created position, global head of FX options and forward trading.
BAML woos David Woo and more…
LONDON & SINGAPORE – Bank of America Merrill Lynch (BAML) is adding to its sales and rebuilding its research capabilities with five hires made globally.
BNP Paribas: pound is going down
BNP Paribas topped the 12-month currency forecast rankings and made a top five appearance in the one- and 12-month year-to-date index, by focusing on changing global liquidity conditions.