Month: January 2005

Refco Expands FX Institutional Sales

Two new staff have joined the FX institutional sales team at Refco. Ernest Rouse and Eric Hummel join the team shortly after the launch of its revitalised FX platform, Refco FX Pro Trader. New York-based Rouse was formerly a vice president, sales and support at HotSpot FX, while Chicago-based Hummel joins from Bank One, where […]

State Street Bolsters Hedge Fund Sales

Connor Keane joins State Street Global Markets in Boston as a vice president on the hedge fund sales team, the bank confirms. Keane was previously at Commerzbank, which in November cut back its FX team as part of a wide scale restructuring of its global investment banking operations (see Squawkbox, November 29). Keane worked as […]

CSFB/Tremont Index Steady in December

CSFB/Tremont Hedge Fund Index reports the index rose 1.61% in December. Oliver Schupp, president of CSFB Tremont Index, gave details behind the rise, saying major US equity indices ended the month higher. As a result of rise in equities, managers generated returns on the long side of their portfolios. European and Asian equities were also […]

BTM Adds Market Rate System

The Bank of Tokyo-Mitsubishi (BTM) licensed the Cognotec Market Rate Manager (MRM) to provide a source of bank-specific market rates to internal bank systems. The bank has been using Cognotec AutoDeal, which provides automated trading to proprietary clients on the FX@BTM service, as well as an automated pricing capability to the FXall multibank portal. According […]

DPM Agrees to Mellon Take-Over Bid

Mellon Financial’s Asset Servicing group will take over hedge fund administrator DPM, and aims to complete the transaction by the end of the first quarter. DPM, based in Somerset, New Jersey, currently oversees $30 billion in assets for 91 clients, and provides middle and back office outsourcing and transparency services. The acquisition by Mellon is […]

Profit & Loss Launches the Forex Network; Lord Walker, BoE’s Fisher to Address Inaugural Event in London

Lord Walker of Worcester, a Member of the Board of the UK-China Forum and Vice Chairman of Dresdner Kleinwort Wasserstein, will make the keynote address at the inaugural Profit & Loss Forex Network seminar, "China: Outlook, Opportunities", which is being held in association with 4Cast. The afternoon seminar also features opening remarks by Paul Fisher, […]

New FX Head for SG in Europe and A-P

SG Corporate & Investment Banking (SG) announces the appointment of Ajaz Jafri as head of foreign exchange for Europe and Asia-Pacific. He will be responsible for spot trading and institutional and corporate sales in Paris, London, Zurich, Singapore, Hong Kong, Tokyo and Sydney. Jafri was previously deputy head of global FX institutional sales, based in New […]

BoA Transfers Nutland to London

Steve Nutland has moved from New York to London to take up a role as head of the London spot desk at Bank of America (BoA). He reports to Alain Delelis, head of global spot and emerging markets trading and overall head of EMEA foreign exchange. Nutland has been succeeded in New York by Guy […]

Deutsche Confirms Departures

Following a wider restructuring, Deutsche confirms at least two departures from the FX group in London. Simon Embleton, an exotic currency options trader, and Ian Smythe, an FX sales dealer focusing on Scandinavia clients, are no longer with the bank. It is believed that Smythe has joined the Royal Bank of Scotland, although RBS could […]

Kelleher Exits JP Morgan

Steve Kelleher, who joined JP Morgan last summer as head of hedge fund sales in London, has left the bank. A spokesperson says no replacement has been named as yet, although this is on the cards. Kelleher reported to Richard Longmore, head of sales for global professionals. Prior to JPM, Kelleher was head of the […]