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Leung Joins State Street

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Leung Joins State Street

Mary Leung has joined State Street as the global head of client algos in FX. Based in London, she will report into Jim Foster, global head of e-FX trading, and her responsibilities will include growing the client algorithms business within e-FX, developing the business strategy, design of the trading algorithms, liquidity analysis and selection, and pre- and post-trade transaction cost analysis (TCA). With more than 13 years' experience in banking, Leung joins State Street from Deutsche Bank, where she was a lead quant of the FX and listed derivatives algorithmic execution business. Prior to this, she held major roles in building FX algos at both Bank of America Merrill Lynch and Citi.
Makor Group Adds Two to FX Business Brokerage firm Makor/Oscar Gruss Group, which was formed by two former Cantor Fitzgerald Europe executives in 2011, has announced the hire of Tom Friedel and Matthew Lutz. Both men will be based in New York and will, the firm says, shortly be followed by more to mark the opening of its US FX Desk, which will be based in both New York and Chicago. They will report to Michael Benitah, head of FX and FI at Makor/Oscar Gruss Group, and locally to Michael Halimi, CEO of Makor/Oscar Gruss Group
FXTM Appoints Scott Retail FX brokerage firm FXTM has appointed Nicholas Scott as head of product development. The firm says he will be responsible for leading the company in the research, management and delivery of its digital user experiences. Scott has previously held roles in the marketing, strategy and product teams of several companies, including LMAX Exchange and Gain Capital. He joins FXTM following his time as senior director of digital investing at Gain. FXTM says the establishment of a dedicated product development team with Scott at the helm “strategically positions the company for further expansion into 2019”.
Calder Set to Leave Cboe FX

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Calder Set to Leave Cboe FX

Barry Calder is set to leave his role at Cboe FX in New York at the end of the year. Calder, whose current title is director, liquidity management, co-founded the Hotspot FX platform in 2000 and worked in various roles as it was subsequently acquired by Knight Capital Group (KGC), BATS Global Markets and then most recently, Cboe in 2017. “Barry has played an important role in the growth and evolution of Cboe FX. He has decided the time is right for him to pursue new opportunities. We have valued Barry’s dedication, keen insight and contributions over the years and we wish him all the best in his future endeavours,” says a spokesperson for Cboe.
Thomson Reuters Veterans Depart Following Blackstone Acquisition A number of long-serving staff members have left Refinitiv – previously branded as Thomson Reuters Financial & Risk unit – since it was acquired by a consortium led by Blackstone in October. Although a spokesperson for Refinitiv declines to comment, Profit & Loss understands that Mechelle Magante, Susan Gammage, Lorraine Ferrari, Jim Ball, Paul Callahan and Bob Bricken have all left the firm. All of them were based in New York. Magante joined then-Reuters in 2004 as an FX product specialist and stayed on after the firm merged with the Thomson Corporation in 2008. At the time of her departure, Magante was a senior FX relationship manager.
Salimi, Ozkul Exit Citadel Securities Rashelle Salimi and Evran Ozkul have left Citadel Securities in New York, according to market sources. Salimi, who was a FICC relationship manager at Citadel, joined from Bank of America Merrill Lynch (BAML), which she left at the end of 2016 to go to Citadel. At BAML, she was initially head of FX algo sales for North America and later a managing director, Americas e-FX sales. Before joining BAML in 2015, Salimi spent over five years at Credit Suisse and nearly four at Bloomberg before that.
Changes at the Top for Flow Traders Flow Traders will propose to appoint Dennis Dijkstra as its sole CEO at the May 2019 AGM. The decision was made by the firm’s supervisory board, with Sjoerd Rietberg, the current co-CEO along with Dijkstra, having previously announced that he will not opt for reappointment at the AGM. In addition, the firm’s CFO, Marcel Jongmans, is resigning to pursue other opportunities, according to a release issued today by the Dutch trading firm. Jongmans’ duties will be assumed by his fellow management board members with immediate effect.
Haagensen to Exit smartTrade

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Haagensen to Exit smartTrade

Soren Haagensen is leaving smartTrade Technologies, where he has served as director of sales for the Americas since joining earlier this year. Sources say he will be moving to a retail FX firm in the new year. Based in New York, Haagensen joined the firm from Integral, where he worked as managing director, bank FX, Americas, for the previous two years. The bulk of his career was spent at Societe Generale, where he spent 20 years, last managing its e-commerce product in the Americas from 2007 until his departure in 2015. Before that, he acted as the bank’s business manager for its New York FX business.
Cürex Hands Schmidpeter a Promotion The Cürex Group has promoted Franz Schmidpeter to senior managing director and head of global business development. Since joining Cürex in 2014, Schmidpeter has led the development of Cürex's pre- and post-trade data analytics platform and managed significant client relationships. Commenting on the promotion, Jamie Singleton, Cürex chairman and CEO, says: "Franz has been instrumental in developing Cürex's web-based analytics tools that provide our customers with pre-trade market intelligence and real-time, post-trade analytics to improve their trading outcomes and prove best execution compliance. At the same time, Franz has developed and manages many of our most important client relationships. This recognition and promotion is richly deserved."
Shterenberg Joins Barclays

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Shterenberg Joins Barclays

Barclays has appointed Alex Shterenberg as global head of G10 and EM e-FX Trading, based in New York. In this role, Shterenberg will be responsible for leading Barclays’ electronic FX trading business globally. Profit & Loss initially reported on rumours that he was headed for Barclays in October, when he left his role as global head of FX algorithmic execution and head of e-FX trading for the Americas at Bank of America Merrill Lynch (BAML). Fabio Madar, global head of G10 FX trading and distribution at Barclays, says