An Australian court has sentenced former Sydney-based Deutsche Bank FX options and futures trader Andrew Donaldson to 18 months imprisonment after he pled guilty to falsifying entries in Deutsche’s internal financial records and systems.
Donaldson pleaded guilty to one charge of using his position dishonestly with the intention of directly or indirectly gaining an advantage for himself, however the sentence was fully suspended and he was released on his own recognisance with a condition to be of good behaviour for two years and a security sum of AUD 10,000.
Digital Vega hired Simon Lewis as head of interdealer solutions and Romain Camus as head of exotic options.Prior to this role, Lewis spent 20 years at Tullett Prebon, building an exotic options desk from scratch and ultimately being appointed as global head of FX options until leaving the firm in 2016.Camus joins from VTB Group, where he was executive director, head of FX structuring. He previously worked at Goldman Sachs and Deutsche Bank as a structurer.
"We are very pleased to welcome Simon and Romain to our growing team. They bring extensive domain knowledge, many years of experience working in our core markets, and valuable contacts that will help to fuel our development,"
Maxine Dennis has left her position as senior FX trader at Societe Generale/Newedge. She had been at the firm for more than five years, having joined from a short spell with Alpari (UK).
Dennis has spent more than 30 years in FX trading, prior to Alpari she took a career break after spending four years at Citi in London on the FX spot desk trading EUR/USD, Cable and USD/JPY. Prior to Citi she was at UBS in London for nine years, most latterly as a director trading G10 currrencies. She joined UBS from a five year trading career at Fuji Bank.
Alpine Macro, an independent investment strategy research firm, has hired Harvinder Kalirai as a partner and chief fixed income and currency strategist.In this role, Kalirai will head Alpine Macro’s fixed income and currency research, and will spearhead its next product on fixed income and currencies, due to be launched later this year.Kalirai most recently worked with BCA Research, where he oversaw the firm’s FX strategy service from 2008 to 2016, and the BCA Daily Insights service from 2016 to 2018. Prior to BCA, he was head of currency management at CIBC Global Asset Management.
Profit & Loss understands that Colin Devereux has joined Barclays in London as a director and senior spot FX trader.
Devereux joins from a spell at Nomura in New York, prior to which he was at Bank of America Merrill Lynch as chief dealer G10 spot FX. Before BAML Devereux was a director on the FX desk at BNP Paribas in London, having joined that bank from a six year stint at Citi in London. He has also worked at Brown Brothers Harriman and UBS on those institutions’ FX desks.
The hire continues a build out of Barclays’ FX business that started with the hire of Fabio Mudar as global head of FX trading and distribution in mid-2018. This week also saw the bank announce the appointment of Pritpal Gill as head of FX cash and options trading for Asia Pacific.
Barclays has announced the appointment of Pritpal Gill as head of G10 foreign exchange and FX options trading for Asia Pacific. Based in Singapore, he will be responsible for developing and driving the G10 FX Trading strategy in the region, the bank says.
Gill has over 25 years of FX experience, mostly with Citi, from where he joins. He started his career at Citibank in London trading vanilla and exotic FX options, before moving eight years later to Lehman Brothers as global head of FX options trading. He then returned to Citi as head of FX trading for Asia, based in Singapore.
Paul Fyda has joined Northern Trust as head of local markets in its foreign exchange business.
Based in New York, he will work with Northern Trust’s FX desks in the Americas, Europe, Middle East and Asia-Pacific regions and is available to firm’s institutional investor clients across the globe to provide support and guidance in operationally complex and highly regulated emerging markets.
“We are pleased to add a leader with Paul’s breadth of experience to our global FX business, says John Turney, head of global foreign exchange at Northern Trust.
Adnan Akant has announced his retirement from BNP Paribas Asset Management (BNPP AM), where he was head of currencies, based in New York.In this role he was responsible for currency alpha and overlay portfolios, as well as the currency portion of global/international portfolios. Akant had been with the firm for 35 years, having originally been with Fischer Francis Trees & Watts (FFTW), a predecessor of BNPP AM. Prior to joining FFTW in 1984, Akant managed the World Bank’s liquidity portfolio and advised the treasurer on the bank’s multi-currency borrowing program. He holds a PhD in Systems Science, an MS in Finance, as well as BS and MS degrees in Electrical Engineering and Computer Science from MIT. He is also a member of the New York Academy of Science and Sigma Xi, the Scientific Research Society.
Edgewater Markets has hired Sal Provenzano as managing director of eFX Sales. He will based in the firm’s New York office.“I am looking forward to joining Edgewater Markets’ team and the opportunity to contribute to the overall growth of the company. Based on the focus and diversification of proprietary product offerings, the rapidly expanding global footprint, and the customised end-user trading solutions being offered to institutional clients, Edgewater’s service offering is very compelling,” says Provenzano.Before GTX, Provenzano was at Velocity Trade, a global institutional and corporate forex broker, where he was head of institutional FX for the Americas region. Prior to that, he held a range of senior level positions with global brokerage firms and large commercial and investment banks, including ABN Amro and Prudential Bache, where he was global head of FX prime brokerage.
Eddie Wen’s role at JP Morgan has shifted from being global head of e-commerce for the bank’s macro businesses - covering FX, EM, rates and commodities - to being global head of digital markets.This change is part of the creation of a new organisation within JP Morgan, Digital Platforms & Services, that was announced in September 2018 and will run across all of its operations, engineering, digital, data and analytics capabilities.The group is co-headed globally by Guy Halamish, previously CFO of Global Markets, and David Hudson, previously the head of the Markets Execution business. An internal memo seen by Profit & Loss says that both will be members of the Corporate Investment Bank (CIB) Management Committee.