ABN Amro has made a number of appointments to expand its FX trading capabilities, confirming 10 hires and transfers amongst the FX trading desks globally.
“We have been expanding the business as a whole and benefited from an expansion in volumes on both traditional market making and e-commerce, on the FX cash and derivatives sides in both G10 and local markets,” says Patrick Bartle, Amsterdam-based global head of FX cash trading. “We have raised the headcount to meet the demand of increased business from this enlarged flow. The next step is to look at where we can allocate our resources to further develop our service and take advantage of opportunities.”
In Chicago, the bank has appointed a new chief dealer and bolstered its spot trading team. Wil van Esch, previously part of the G10 trading team in Amsterdam, has transferred to Chicago as chief dealer of G10, while Tony Hernandez joins the spot desk from Lehman Brothers in New York, where he held a similar role.
The bank has also bolstered its Amsterdam team with two transfers and two hires. Murtaza Moulvi moves from ABN’s Dubai operation, where he traded local currencies, to trade G10, while Paul Peter, previously part of the Johannesburg operation, where he traded local markets FX, transfers to trade G10 currencies. Steen Dybdahl from Den Danske in Copenhagen and Scott Richards from AIG in Singapore, join the bank as G10 traders from similar roles.
The prop team, meanwhile, increases by three. David Kreisa was a global macro fund trader at Chicago Trading and becomes a G10 and FX prop trader at ABN Chicago, while Mike Smith, formerly a global macro fund trader at Trinity Fund, becomes a prop trader there. Smith has also worked for Caxton. In London, Doug Bate, formerly head of FX trading at UFJ’s London operation, joins as a director and FX prop trader.
Finally, in Singapore, Terence Ling was hired to trade local markets FX from a similar role at JP Morgan.
All the traders report ultimately to Bartle.
“These hires have brought the trading headcount in line with the growth in the business we have seen overall,” says Bartle. “The flow in the G10 currencies has become very transparent and commoditised, so we continue to look for opportunities in derivatives and local markets. These hires will help us capture this.”