Month: March 2002

NAB – Leveraging Strengths

National Australia Bank (NAB) is in something of a unique position. Through its ownership of banks in the UK, Ireland and New Zealand, it can claim to have three strong niches in its core markets: the AUD, NZD and sterling. Whilst many can claim to compete in a broad spread of currencies, few can claim […]

Reuters Continues Forward Momentum

Reuters Financial, Reuters Group’s financial technology and information division, reported a revenue growth of 9% for the year ending December 2001, a total of £2,787 million including the subsumed Bridge businesses. Revenues from the subscription-based recurring services rose 8% to £2,491 million and were up 4% on an underlying basis for the year. Reuters 3000 […]

Confusion Reigns Over AllFirst Losses

Although many column inches have been filled with news and speculation over the losses at Allied Irish Bank’s (AIB) US subsidiary, AllFirst Financial, the situation is no clearer now than it was when the bank revealed the staggering $750 million loss from its FX operations. Initial scepticism in the market over the amount claimed to […]

Currency Managers End the Year on a High

The Parker FX Index reported a rise of 4.95% for December, its first rise in four months and the largest of 2001, while the Parker Emerging FX Index rose 2.24%. All 45 programs in the Parker FX Index reported December results, 89% of them positive. On a risk-adjusted basis the index is up 3.11%, while […]

Fox New COO at Cognotec

Paul Fox has been promoted to the post of chief operating officer at Cognotec. Previously he was chief technology officer at the company. His expanded role sees him assume responsibility for all of Cognotec’s non-sales functions. Fox will be based in the company’s head office in Dublin. He rejoined Cognotec in 1998 from Siemens-Nixdorf, having […]

Three Move from Merrill to AIG

Three FX sales people have joined AIG from Merrill Lynch, according to sources. Quentin Smith, Ben Hildyard and Graham Winters-Gill will report to John Wareham, executive vice president responsible for global FX and emerging markets. At Merrill, Smith and Winters-Gill worked on the hedge fund sales desk, Hildyard on the Middle East and UK funds […]

DeGennaro Reverts to Global Head at Lehman

Mark DeGennaro has reverted to sole global head of FX at Lehman Brothers following the departure of Ivan Ritossa. DeGennaro held the same role prior to Ritossa becoming co-head in autumn 2001. Ritossa’s regional responsibilities in Europe have been assumed by Eric Robin and other senior members of Lehman’s European operation. The bank says it […]

Saxo Bank Hires Collevecchio for Italian Push

Fabio Collevecchio has joined Saxo Bank from Shell International, where he is to head the Danish bank’s new Italian sales desk, concentrating on private institutions, and white labelling the bank’s systems. Collevecchio will report to Flemming Overgaard, the bank’s global head of sales. Rady Mina will report to Collevecchio on the new desk.

Saxo Bank Hires Collevecchio for Italian Push

Fabio Collevecchio has joined Saxo Bank from Shell International, where he is to head the Danish bank’s new Italian sales desk, concentrating on private institutions, and white labelling the bank’s systems. Collevecchio will report to Flemming Overgaard, the bank’s global head of sales. Rady Mina will report to Collevecchio on the new desk.