Month: September 2004

BIS Survey Shows FX Volume Nears $2 Trillion/ Day

The much anticipated Bank for International Settlements (BIS) Triennial Survey of FX Market Turnover for 2004 confirms what many in the market have suspected, the FX market has grown immensely over the past three years. Turnover data shows that average daily FX volume rose from Usd 1.2 trillion in 2001 to Usd 1.88 trillion in April […]

Preston to Succeed Milne at Lloyds

Lloyds TSB has appointed Mark Preston as managing director of financial markets, succeeding Brian Milne, who is retiring at year-end after 30 years with the bank, a spokesperson confirms. Preston, formerly CEO and head of investment banking at CIBC Europe, assumes his new position on December 6. Prior to joining CIBC in 1994, Preston was […]

Siva-Jothy Exits Goldman Sachs

Goldman Sachs confirms that Christian Siva-Jothy is retiring from the organisation at year-end. He was head of the global FX proprietary trading business. Also confirmed as retiring is Geoff Grant, also on the prop desk (see Squawkbox, September 20). Both are partners of the bank and are London-based. Siva-Jothy joined Goldman in 1991 and Grant […]

JP Morgan Launches FX & Commodity Barometer

JP Morgan last week launched its FX & Commodity Barometer, which tracks drivers of the major currencies and metals, such as economic forces, yield differentials, relative equity market performance, technicals, flows and positions. “We look at a range of indicators and assign a weight to each,” explains John Normand, global FX and fixed income strategist […]

Morton Heads to ABN Amro

Stewart Morton is joining ABN Amro’s trading team in London on October 4. He was previously head of FX and interest rate trading at Bank One, which recently completed a merger with JP Morgan.

Mitchell Gets Top Job at NAB

National Australia Bank (NAB) has made a number of appointments to its Institutional Markets & Services (IMS) division. All of the roles will be part of the division’s leadership team, effective October 1, and report to John Hooper, executive general manager of IMS. Jeff Mitchell has been appointed as general manager, markets, and relocates to […]

JP Morgan Hires Piron as Asia Strategist

Claudio Piron has joined JP Morgan in Singapore as the bank’s Asia FX strategist, a spokesperson confirms. He reports to David Fernandez, JP Morgan’s head of emerging Asia research, who is also based in Singapore. The bank says that Piron, who started his new role on September 20, is responsible for regional research views on […]

Commerz Makes NY Options Hire

Commerzbank Securities confirms that Carmine Ricciardi joins as a senior options trader in New York. He reports to New York-based Nozar Hussein, Commerzbank’s head of FX trading. Ricciardi joins the bank from SuperDerivatives, which he joined in October 2003 as a director of sales, North America. Prior to this, he was a senior dealer of […]

StanChart Continues FX Push

Mark Schwartz has joined Standard Chartered Bank as senior vice president, head of institutional sales, global markets, New York, a spokesperson confirms. He reports to Singapore-based David Carr, global head of sales, global markets, and took his new position on September 20. Carr has been ramping up his sales department globally over the last three […]

Deutsche Confirms New Structure

Deutsche Bank has changed the responsibilities of members of the group executive committee (GEC). Under the new structure, the Corporate and Investment Bank will be co-headed by Michael Cohrs and Anshu Jain, both of whom are based in London. Cohrs remains head of global corporate finance, adding responsibility for the global banking division and global […]

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