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Saxo Announces Senior Management Changes Saxo Bank, which describes itself as a fintech specialist focused on multi-asset trading and investment, has announced two changes to its board of management. Current member of the board, Søren Kyhl, has been promoted to deputy CEO while also continuing in his role as COO, and Damian Bunce has been appointed to the board with the new title of chief commercial officer. In addition to Kyhl and Bunce, the Saxo board of management consists of CEO, Kim Fournais, and chief financial and risk officer, Steen Blaafalk. “With Damian Bunce as a new member of the board of management, Saxo further increases the essential client and commercial focus. The promotion of Søren Kyhl to the newly established role as deputy CEO adds even more firepower to Saxo's strategy execution and provides a steadfast long-term leadership of the bank
Memorial Service to be Held for Paul Chappell A memorial service will be held this Wednesday to celebrate the life of Paul Chappell, most latterly director of education for ACI – The Financial Markets Association. The service will be held on November 7 at 11am London time at St Mary’s Moorfield, which is in Eldon Street and will be followed by a gathering at The Soda Room in The Botanist in Broadgate Circle. Chappell, who, in 1999, founded currency management firm C-View after heading Bank of America’s FX business for many years, passed away in June after a short illness.
Cobalt Hires Rayner as Global Sales Head Cobalt, the FX post-trade processing network based on shared infrastructure, has appointed Anoushka Rayner as global head of sales and business development. Rayner brings over 20 years of experience in the FX industry to Cobalt. She most recently worked as business manager and global FX sales specialist at Traiana. Prior to this, Rayner was a sales director at smartTrade Technologies and was the global head of FX option sales at FXCMPro, the institutional arm of FXCM. At Cobalt, Rayner will be responsible for managing the firm’s commercial relationships and will play a key role in scaling up the business as it gets ready for its launch later this year.
Agha Joins Stater as Strategic Advisor Ashraf Agha has been appointed by Stater Global Markets as a strategic advisor, focusing specifically on operations and compliance. Agha has almost 30 years' experience in the financial sector, with roles including head of treasury at Saxo Bank, COO for the FX business at Marex Spectron, and co-founder and executive director of CFH Clearing, where he was accountable for all operations. He is also currently a board member of the regtech firm, muinmos. Ramy Soliman, CEO at Stater, says: "Appointing Ashraf as a strategic advisor underpins our strategy of leveraging significant institutional experience to fast-track our growth.
Changes at NEX Markets Profit & Loss understands that Laurence Timmons, head of sales for Asia Pacific at NEX Markets in Hong Kong, is returning to London. It is unclear if he is remaining with NEX and if so, to what role he will be appointed. Serge Marston, regional head of sales for EMEA at NEX Markets, is believed to be taking on additional responsibility for Asia Pacific and while he will continue to be based in London, sources familiar with the matter say he will spend “significant” time in Asia Pacific.
Shterenberg Exits BAML Sources familiar with the matter tell Profit & Loss that Alex Shterenberg, global head of FX algos at Bank of America Merrill Lynch in New York, has left the bank. The sources say he is moving to another, as yet unnamed, sell side institution in a senior FX role. Shterenberg joined BAML in May 2013 as head of FX e-commerce for the Americas before assuming his latest role. He joined from a six-year career at JP Morgan in New York, where he was head of FX algorithmic products. Prior to JP Morgan, Shterenberg had roles at Broadway Technologies and UBS.
ErisX Expands With Three Senior Hires The recently launched platform for digital asset trading, ErisX, has hired Kelly Brown as chief commercial officer, Liz James as head of clearing and Michael Piracci as senior counsel. Brown will be tasked with developing an “intermediary-friendly approach” to developing a safe and liquid digital asset market on the platform. Before joining ErisX, Brown was most recently managing director and head of intermediary, bank and membership segments at CME Group. Brown also held roles in institutional sales at Bank of America and Cargill Investor Services.
Lincoln Joins BNYM? Profit & Loss understands that Claire Lincoln has joined Bank of New York Mellon in London. Reporting to James Taylor, global head of e-sales and EMEA platforms, Lincoln will focus on European clients as the bank extends its e-platform Lincoln last worked in the FX industry in April 2016 when she left Credit Suisse after four years working in the bank’s e-FX sales including its proprietary platform and AES. Prior to that she spent almost seven years at Bloomberg in relationship management roles.
Stater in Second Sucden Hire Ayhan Gurcuoglu has been appointed by Stater Global Markets as regional sales manager (Turkey). He joins from Sucden Financial, where he was also regional manager for Turkey. In addition to three years at Sucden Financial, Gurcuoglo was at Sanko Securities for five years, where he progressed from financial dealer to foreign markets assistant manager and was, the firm says, instrumental in building up the organisation’s FX and CFD departments. His career history also includes working at Tera Brokers and at Raymond James in Turkey.
Rouse Exits NEX After More than 20 Years with EBS Fulinda Malone-Rouse is leaving NEX Markets, where she spent the past 20 years, most recently as Regional Liquidity Manager for EBS Direct, based in New York. With more than 25 years of experience in the FX industry, she has worked in roles ranging from trading to sales to business development. Rouse spent the first 16 years of her career at Barclays Bank, culminating in the role of Chief Dealer for the North American FX trading centre. She later moved to the former M&T Bank, where she spent four years, and after that, traded proprietarily for a period.