Month: October 2000

Deutsche Takes New Options Trading System

Deutsche Bank has licensed FNX’s Sierra System for its global back office and general ledger operations. Sierra will support Deutsche’s highly structured products, comprised of FX options and complex derivatives. Deutsche expects to expand both the volume and the complexity of its structured products activity, while reducing the back office risk traditionally associated with exotic […]

Algorithmics Gets Major Backing

Four financial institutions, including AIG and Morgan Stanley, have invested in Algorithmics to the tune of $ 60 million. At the same time, Algo has purchased Sentry Financial and will be integrating their collateral management products into its credit risk solutions

Standard Bank Takes Software Stake

Standard Bank London has acquired a 5% stake in Ireland’s International Financial Systems (IFS), developer of global collateralised and Internet trading systems. In June 1999, Intel Corp and Deutsche Bank acquired a joint strategic stake of 14% in IFS. “As one of the leading financial institutions in London, Standard Bank is constantly looking at new […]

BB&T Offers Web-Based AutoDealing to US Clients

Branch Banking and Trust (BB&T) is the first bank to go live on Cognotec AutoDeal Direct, a new browser-based automated FX dealing service. With $55 billion in total assets, North Carolina-based BB&T is one of the leading regional banks in the US. Its primary focus is community and small business banking. The bank is introducing […]

Iggo Joins Casenove

Chris Iggo is reportedly joining private investment management firm Casenove in London. He was most recently a strategist at Barclays Capital in London, and previously held a similar role at Chase Manhattan in New York.

State Street Hires Dodd for Sales Role

Gerard Dodd, formerly of HypoVereinsbank, has joined the institutional sales team at State Street in London, confirms Alan Moore, co-head of global FX. Moore says Dodd’s hire is part of the continued expansion of the institutional sales business, which is being driven by the bank’s “e-commerce strategy and focus on being the premier provider of […]

Wilkes Joins BBH

Henry Wilkes is joining Brown Brothers Harriman as senior vice president and European head of sales and marketing in London. The new London sales desk extends BBH’s reach into Europe, meeting client demand for local sales and research services, according to officials. Wilkes was most recently treasurer of Bank Julius Baer in London. “Henry’s hire […]

StanChart Downsizes NY Spot Desk

Standard Chartered Bank has downsized its FX team in New York by three spot traders and one forward dealer. Two of the spot traders covered major currencies, while one focussed on emerging markets. According to an official, the cuts were a consequence of the “natural progression” of the markets. “We are always adjusting and looking […]

Suter Exits Standard Bank

Mark Suter, head of global FX and interest rates at Standard Bank in London, has left the bank to start a consulting practice. Jonathan Pearson, head of capital markets for Standard Bank, has added Suter’s responsibilities to his oversight. As the South African bank’s focus is heavily emerging markets based, all the treasury activities are […]

RBC Hires Two From DLJ

David O’Connor and Keith Dack have joined RBC Dominion Securities. The two were previously with DLJ International. O’Connor will be head of global funds sales in Sydney, while Dack will be a senior dealer in London, according to John Burbidge, London-based head of treasury. RBC has also recently hired Jeremy Stretch as a strategist. He […]