Day: 11 December 2006

BofA Raids JPM for Options Head

Bank of America has unveiled Frank Rawlins as managing director and global head of foreign exchange options. He will join the bank later this month in London reporting to Christiane Mandell, global head of foreign exchange. Rawlins joins BofA from JP Morgan in London, where he was co-head of global FX options, based in London. […]

Goldman’s McTamaney Moves from FX to Head Asian Securities

Robert McTamaney, the London-based co-head of global foreign exchange at Goldman Sachs, is relocating to Tokyo to jointly run the bank’s pan-Asian securities business with Katsunori Sago. He will start his new role at the beginning of next year, a spokesperson confirms, and will report to Mike Evans, Tom Montag and Michael Sherwood who head global securities. […]

Bad Week for Fixed Income Jobs

Last week was a bad one in the fixed income markets where the axe fell at Dresdner Kleinwort, HSBC and the Royal Bank of Canada. At Dresdner Kleinwort, sources report that 125 front office jobs have gone at the bank, including some in its FICC (Fixed Income, Currencies & Commodities) division in London and New York. The […]

BlackRock Wins China Pension Fund’s First FX Cash Mandate

China’s $30 billion National Social Security Fund (NSSF) has awarded its first batch global investment mandates to ten international fund managers including BlackRock which will manage NSSF’s foreign currency cash position. BlackRock, as well as AllianceBernstein and PIMCO, also won the mandate for global bonds, according to a report in the Shenzhen Daily. The funds […]

RJO Buys Refco Assets

RJ O’Brien and Associates (RJO) has acquired “substantially all” of the assets of Refco Commodity Management (RCM), which include the managing owner interest in the JWH Global Trust, a public commodity pool, with more than $125 million in customer assets under management (the Fund). The Fund’s assets are managed by John W. Henry & Company […]

RBS Hires in eMarkets

The Royal Bank of Scotland (RBS) has added to its electronic markets and solutions group in London, according to industry sources. Sheefali Asija is reported to have joined in the role of director, product development, reporting to Martin Spurr, head of e-ventures at the bank. Asija was last at Hypobank in London in a similar […]

FXC Releases Updates to IFXCO

The Foreign Exchange Committee (FXC) has issued a revision to the International Foreign Exchange and Currency Option Master Agreement (IFXCO) which was published on June 1, 2005. This revision is effective December 4, 2006, and is aimed at making clear that the parties to an FX or currency option transaction governed by IFXCO are legally […]

Five Reportedly Leave IFX as it Drops Institutional Focus

Sources within IFX Markets tell Squawkbox that the company is seeking to reduce its institutional client focus in favour of targeting retail FX traders. The move comes three months after the company was acquired by City Index and has allegedly resulted in IFX Markets releasing five sales and trading staff from its institutional desks in […]

CME Kicks Off December in Style…

The Chicago Mercantile Exchange (CME) had a strong start to its December trading, announcing record trading activity on Friday, December 1, 2006, with a total of 10,997,315 futures and options on futures contracts traded. This eclipsed the previous record of 10,675,578 set on September 1, 2005, and was more than double the exchange’s average daily volume […]

…As Does Saxo

Meanwhile, Denmark’s Saxo Bank says that on December 1, for the first time in its history, it surpassed the USD25 billion mark in one-day volume in currency trading. “Naturally, this is a huge milestone in our history as an online investment bank,” says Saxo’s co-CEO Lars Seier Christensen. “Posting volume of this level in a […]