Crown Agents Bank (CAB), an emerging markets FX and payments specialist, has appointed Colin Digby to head up its banks and non-bank financial institutions portfolio in OECD countries.Based in London, Digby joins CAB after four years in consulting and advisory roles across payments, FX, fintech and banking businesses. Prior to that, he spent his career working at a number of major banks in FX and payments focused roles, including RBS Markets, Barclays, Deutsche Bank, JP Morgan and Citigroup.“Colin brings so much expertise to this role. His input will be invaluable as we consolidate our existing portfolio and look for innovative ways to further develop the business,” says Albert Maasland, CEO of Crown Agents Bank. “We are a relationship business, based on trust, and having individuals with proven expertise at the helm is something that is important to our clients, and therefore important to us.”
Robert Bogucki, who was facing six counts of wire fraud and one count of conspiracy, was acquitted by a federal judge in Northern California today. Bogucki, the former head of Barclays’ New York FX operation was charged last year in an indictment for his alleged role in a scheme to front run client orders. Bogucki was alleged to have misused information provided to him by Hewlett Packard (HP), which had hired Barclays to execute an FX transaction – which required the sale of £6 billion of options– related to the planned acquisition of a UK-based company in 2011. Bogucki previously lost a bid to dismiss the case.
Following recent news of planned staff cuts at Societe Generale Corporate & Investment Banking (SG CIB), Profit & Loss understands that at least three senior FX staff have left the French bank. Tom Gillie, managing director, global head of FX trading, and Keith Hill, global co-head of e-FX sales at SG CIB, are among the early cuts to the FX team. Richard Ware, a senior sales/trader has also reportedly left. Sources say additional cuts were made to the FX team, but roles and numbers could not be determined by time of going to press. These sources add that the US team will also be impacted, but that the cuts have not yet been announced. SG declines to comment.
Jay Moore has left his role as senior vice president and global head of currency administration at Brown Brothers Harriman (BBH).Moore joined BBH in 2012 to lead the product development efforts for FX, before subsequently transitioning to build and run the currency administration business for the firm.Prior to joining BBH, he was the global head of the currency management and portfolio solutions strategy teams for State Street Global Markets, where he worked between 1997 and 2012. In his roles, Moore was responsible for all functions related to the business including, product development and innovation, management, research, agency trading, technology, portfolio management, operations and sales.
Peter Kinsella has joined Union Bancaire Privee (UBP) as managing director, global head of FX strategy.Based between London and Geneva, Kinsella will be responsible for the global FX outlook for UBP. This includes the publication of ad-hoc and high frequency FX periodicals covering G10 and emerging market currencies, including option and derivatives strategies. The role entails FX advisory for private bank (UNHW) and FX overlay strategies for asset management customers. Kinsella has also been named as a member of UBP's global investment committee (GIC), which implements asset allocation strategies for UBP and its customers.Kinsella joins from Commonwealth Bank of Australia (CBA), where he was a senior FX and rates strategist based in London.
Joe Conlan has joined Currency Mountain as director of sales.Currency Mountain is a holding company that owns and operates companies within the financial services industry such as: FXDD, its broker arm; Forexware, its fintech company; TraderMade, its market data firm; and Nukkleus Capital, its cryptocurrency offering.In his new position, Conlan will be responsible for developing the institutional market for Currency Mountain’s portfolio of products, which combines technology, market data, prime-of-prime and liquidity capabilities to trade FX, cryptocurrencies and CFDs. Conlan joins after leaving INTL FCStone in September, where he had been the global head of FX sales since 2007.
Gavin Wells is leaving Digital Asset, where he has served as head of Europe, based in London. He is due to leave the firm next month, having joined in mid-2016. Wells had previously been at LCH Clearnet (LCH), where he was global head of ForexClear. He joined LCH in 2008 and led the team that designed and implemented the ForexClear service, which was launched in March 2012. Prior to LCH, Wells was at Citi, where he was a managing director in the FICC business. He spent 15 years at Citi in a variety of roles across FX trading, e-commerce and IT.
Dan Torrey has joined OTC digital currency trading firm, Genesis Global Trading, in New York as head of institutional sales. He reports directly to Michael Moro, CEO.Torrey was most recently at Northern Trust, which he joined in mid-2016 as global head of FX e-commerce sales. Prior to that, he was briefly with ParFX, where he was head of FX sales for North America.The bulk of Torrey’s career was spent at EBS, where he spent 11 years in a variety of sales roles, culminating in his appointment as head of sales for the Americas.
The US Commodity Futures trading Commission (CFTC) has named former Goldman Sachs and Deutsche Bank FX prime brokerage head Mel Gunewardena as deputy director of the Market Intelligence Branch (MIB) and CFTC’s chief market intelligence officer.
Gunewardena has also held roles at State Street and was a former co-managing partner of G Capital Fund Management. Gunewardena has held numerous senior global roles in global markets trading, finance, over-the-counter, and derivatives clearing and has significant international experience having worked in Hong Kong and London, in addition to New York and Boston.
Profit & Loss understands that two FX traders at Goldman Sachs have left the firm to set up a sports betting site called Sportstack. The two traders, Kristian Brauten-Smith and Nick Smith were both based in London, Krauten-Smith had been at Goldman for seven years as a G10 spot trader and Smith had been at the bank for just under three years also as a G10 spot trader, having joined from a similar spell on Citi’s FX desk in London.