Day: 11 June 2018

Krueger Joins Saxo

Saxo Bank has hired Eric Krueger to the new position of global head of client services, effective from 2 July. He will report directly to Damian Bunce, CCO.

In this new role, Krueger will be tasked with developing Saxo’s client relationships and the infrastructure serving those clients. He assumes the overall responsibility of leading the global client services organisation to further improve the firm’s client service.

Krueger joins after nine years at Barclays, where he most recently served as managing director and head of cash execution sales for the EMEA region. Before joining Barclays in 2009, he also worked at Merrill Lynch for 11 years in various leadership positions focusing on program trading and electronic trading.

Bitcoin Tumbles After South Korean Exchange Hack

The value of bitcoin dropped from from $7,256 to a low of $6,651 on Sunday night, following the news that the South Korean cryptocurrency exchange, Coinrail, was hacked over the weekend.

In a statement on its website on Monday, Coinrail confirmed that there was a “hacking attempt” on June 10.

The statement continues: “At present, 70% of your Coinrail total coin/token reserves have been confirmed to be safely stored and moved to a cold wallet and are in storage. Two-thirds of the coins confirmed to have been leaked are covered by freezing/recalling through consultation with each coach and related exchanges. The remaining one-third of coins are being investigated with investigators, relevant exchanges and coin developers.”

Coinrail says that the exact extent of the hacking is still be determined.

And Finally…

This will be brief, it being a public holiday here in Australia (happy birthday Liz!) – and on the subject of the aforementioned Queen Elizabeth II, my congratulations to former RBC and State Street FX stalwart as well as former ACI president Marshall Bailey for his OBE (to financial services and charity).
That’s as nice as it gets today, because I need to talk about that most polemic of men, the US president and his irresponsible, but not out of character, leaking of the employment data.

P&L Talk Series – UBS

The traditional Markets business model in banking is under pressure, Colin Lambert talks to Imed Souki, global head of FRC trading at UBS, and Christopher Purves, recently appointed head of UBS’ Strategic Development Lab for FRC, about how the bank is responding to a such a challenging environment.
Colin Lambert: UBS recently announced a change in structure for its FX, Rates and Credit (FRC) business, can you outline the new business model?
Imed Souki: There has not been a significant change in the structure of the business, it is really a continuation with me taking sole responsibility for the business today, whereas Chris is tasked with taking it where it needs to be in the future. The client relationship dynamic is changing and we want to ensure we are, and remain, relevant to our clients.

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