Month: January 2003

Change at the top at CIBC

Sources tell Profit & Loss that Craig Ellis has replaced Karl Berger as global head of trading and sales at Canadian Imperial Bank of Commerce in Toronto, reporting to Michael Horrocks, head of CIBC World Markets. Ellis was previously responsible for trading and sales outside North America. Berger is said to be exploring other options. […]

Boulton Rapidly Up the Ranks at Barclays

Barclays Capital has made Roddy Boulton its head of European FX investor sales just months after joining the organisation with responsibility for European institutional clients (see Profit & Loss, October 2002). He will be responsible for the bank’s UK and European investor clients and will report to Justin Bull, European head of rates sales. Boulton […]

Icap Profits Rise

Interdealer broker Icap announced interim results for the six months ending September 2002 showing a 30% rise in profits before tax, goodwill amortisation and exceptions to £58.2 million. Turnover during the period rose by 23% to £311.3 million, Icap’s pre-tax profit margin rose to 18.7% from 17.6%. The company had net assets of £240.2 million. […]

Merrill Lynch Launches Currency Overlay Programme

Merrill Lynch unveiled a range of new currency overlay portfolios during a recent client seminar in London, which form part of the FX research strategy outlined last month in Profit & Loss. The move is part of an aggressive push into foreign exchange by the bank, which follows president and chief operating officer Stan O’Neal […]

BNP Paribas’ Loic Meinnel Rises to the Challenge

Succeeding in the financial markets is testing enough in the current environment, but with the added pressures of a bank merger, the launch of the euro and the impact of online trading, the task becomes a real challenge even for the most experienced of bankers. Loic Meinnel, global head of FX trading and sales at […]