Month: February 2005

New Positions For Moulds and Mixon In Bank of America Restructure

Jonathan Moulds is Bank of America’s (BoA) new head of international global markets, which will now include the European and Asian debt business formerly run by Arrington Mixon, who has relocated to the bank’s Charlotte head office. She takes on a newly created role of head of the bank’s credit syndicate business. Moulds is also […]

Changes at BNL NY

Market sources report that Agosto Floro has left Banca Nazionale del Lavoro (BNL) in New York after five years, to accept a position as vice president on the spot trading desk at SG New York reporting to Dominick Errichetti, global head of foreign exchange and sales. In his place, BNL New York is reported to […]

HSBC’s Snatches Schartner From Goldman’s Jaws

Patrick Schartner, whose destination was thought to have been Goldman Sachs’ FX leveraged sales team in London, (see Squawkbox, February 14) appears to have been waylaid by HSBC (while en route to Goldman). HSBC has persuaded him to join them in London instead. Market sources say Schartner who had already signed up for work at […]

Lehman Appoints Ames To Run US FX Business

Mark Ames has been named US head of FX sales at Lehman Brothers. He will be based in New York, and was previously within the fixed income division working on client solutions, according to a spokesperson for the bank.

FXall Opens in Boston

Multibank portal FXall has opened an office in Boston and recruited two staff as it seeks to build on its real money client segment which increased volumes by 146% in 2004. The move represents something of a challenge to rival multibank portal FX Connect, which is part of State Street‘s Global Link, which is headquartered […]

JP Morgan Launches a Carry-to-Risk Model

JP Morgan has announced the launch of a carry-to-risk model for emerging markets which, the bank says, aims at producing respectable returns for investors. Osman Wahid, emerging markets currency strategist at JP Morgan says, “[The] emerging market carry-to-risk model provides a systemic approach to analyse expected risk-adjusted returns on currency positions. [We] take the approach […]

State Street Appoints Head of Operations

Hemang Patel is State Street‘s Global Markets’ (SSGM) new European head of operations. He takes responsibility for the European operational infrastructure which will support foreign exchange (as well as fixed income, equities and money market trading). Patel reports to Robert Sisti global head of operations and Peter O’Neill, head of SSGM, in London. Prior to […]

Sumitomo Withdraws from Merger with UFG

Sumitomo Mitsui Financial Group (Sumitomo) has announced its withdrawal from its proposed merger with rival Japanese bank UFJ. The bank says its is withdrawing from the proposed integration following the announcement last week that UFJ has agreed terms with the Mitsubishi Tokyo Financial Group. The merger was proposed in August 2004 and the deal was […]

NAB to Revive FX Options

Following the currency options trading scandal that broke at National Australia Bank (NAB) last year – and resulted in the bank dismissing four traders and its co-global head of FX among numerous other senior managers – the bank has begun to revive the business with two senior appointments. Clifford Bayne is the new head of […]

SEC Moves on Northshore

Following its investigation into allegations of missing money at New York-based hedge fund, Ardent Capital, the US Securities and Exchange Commission (SEC) has filed an emergency enforcement action to halt an alleged fraud by Northshore Asset Management (Northshore) and its three principals, concerning their alleged misappropriation of assets of two hedge funds, Ardent Research Partners […]