Day: 21 January 2019

In the FICC of It

In football parlance it’s a tap in for Galen Stops and Colin Lambert in this week’s podcast as they have more academic-research-that-states-the-obvious to poke fun at. Listen in as they discuss last week’s report on the Swiss National Bank debacle in 2015 as well as the FX market’s handling of the Brexit vote. They also take a look at the potential impact of last week’s HSBC announcement that it had settled FX trades using distributed ledger technology, as well as the mysterious disappearance from marketing material of two asset classes at a recent platform media day.

And Finally…

The communications channels have been buzzing following Thursday’s column about banks taking more risk in their FICC businesses – especially FX – and some really good points were made by correspondents. But while there was general agreement that more risk-takers would benefit the broader industry, my correspondents and I diverged on a key point. To me this is not about spreads or the advantage of man over machine (or vice versa), it is about the risk taking role adding something different.

Capitolis Makes Three Senior Hires

Capitolis has made three senior hires as it looks to continue expanding its novation business. Paul Perdoni and Sam Grant joined the firm in December, with the former charged with focusing on EMEA strategic accounts and the latter on EMEA buy side sales. In addition, Ralitza Fortunova will join Capitolis in February 2019, she has been appointed to the role of managing US strategic accounts. Perdoni and Grant are based in London, while Fortunova will be based in New York.

LMAX Exchange Appoints Group Treasurer

LMAX Exchange has appointed Himanshu Kher as group treasurer, a newly-created role he began at the start of 2019.
Kher joins from IG Group, for whom he was also group treasurer and will report to Grant Pomeroy, group chief financial officer, and brings 18 years of treasury, corporate finance, risk management and stakeholder management experience from a career spent with global brokerages, banks and consulting organisations.
Prior to joining IG, Kher was a director within Group Treasury at Barclays, he has also held roles at Boston Consulting and PwC.

Refinitiv Appoints Global Head of Industry and Government Affairs

Refinitiv, formerly the Financial and Risk business of Thomson Reuters, has appointed Sherry Madera as global head of industry and government affairs to “enhance the company’s engagement across government, policy initiatives, industry trends and regulatory developments”.
The firm says this engagement will support its role in global financial markets and “offers customers further opportunity to drive efficiency, transparency and collaboration across the public and private sector”. It adds that Madera and her team will engage with customers, industry groups, regulators and governments to help tackle key customer challenges and advocate for fair, efficient and sustainable financial markets.

Saxo Taps Xu for New China Role

Fan Xu has been appointed head of Greater China Business for Saxo Bank, based in Shanghai and reporting to Saxo Bank founder and CEO, Kim Fournais. Xu will be responsible for the firm’s strategy for the region. He will be tasked with managing and developing relationships with key stakeholders and partners in Greater China, ensuring that the firm is well placed to leverage opportunities in the region as China’s financial markets continue to open.Xu joins with over 20 years of experience in financial services and markets, having previously worked for Citigroup in New York and China Everbright Bank in Beijing, and most recently, as CIO at CITIC Prudential Life Insurance in Beijing.