Cürex Group has hired Glen Sargeant as managing director, European business development.
Based in London, Sargeant will be responsible for the development of customer relationships throughout the UK and Europe.
Sargeant has 25 years of experience in global FX markets. As the former head of FX trading, EMEA, at Schroder Investment Management, he managed a large trading book comprised of major and emerging market currencies. In that capacity, he was also responsible for optimising FX trading processes through technology implementations while managing costs. Sargeant also served as product manager, buy side FX, at FlexTrade.
Christophe Lalo has joined the Avalon Capital Partners as head of FX solutions, execution and services.
Based in London, Lalo joins from Deutsche Bank, where he was the head of currency overlay services in the global investment solutions department.
Prior to joining Deutsche in 2014, Lalo was the co-founder and managing partner at Light Capital Markets, an online broker servicing small- and mid-sized institutional investors in FX, stocks, CFDs, commodities, futures, options and bonds.
Before that, he spent more than six years as managing director, head of sales and business development APAC ex-Japan at Societe Generale Asset Management Alternative Investments (SGAM AI) in Hong Kong, as the firm looked to build out its hedge fund business.
The US Senate has confirmed the nominations of Dawn Stump and Dan Berkovitz as commissioners at the Commodity Futures Trading Commission (CFTC), bringing the agency to a full staff of five commissioners for the first time since 2014.
Stump, a Republican, was most recently president of consultancy Stump Strategic, prior to which she was a vice president at NYSE Euronext. Stump also previously served as the Futures Industry Association’s (FIA) executive director of the Americas Advisory Board, and held several staff positions in the Senate and House of Representatives.
CLS has appointed Duncan Barnard as its chief internal auditor.
Based in New York, Barnard is responsible for leading CLS's audit activity globally. He reports to the Audit and Finance Committee of the CLS board and to CEO, David Puth.
Prior to this role, Barnard worked at Accenture, where he served as managing director in the finance and risk practice covering the US northeast region. Before that, he was a managing director in PricewaterhouseCoopers' (PwC) risk and compliance analytics practice, of which Barnard was a founding member, and also served as managing director in PwC's US northeast risk assurance practice.
Former European head of FX spot trading at Goldman Sachs, Mitesh Parikh, has been told he must submit himself to questioning by US authorities over the benchmark manipulation lawsuit brought against a group of banks.
The class action lawsuit was brought against 15 banks, 14 of which have settled. The remaining bank yet to agree a settlement – which was finalised in New York earlier this month – is Credit Suisse. In a judgement released by the UK High Court this week, it is revealed that Parikh has lost his application to avoid giving oral testimony in New York.
Barclays has named Justin Brickwood as managing director, head of markets innovation. Based in London, he will join Barclays in September and will report to John Stecher, chief innovation officer at the bank.
In what is a newly-created role, Brickwood will, the bank says, be responsible for driving client focused innovation across its Markets division’s electronic offerings as well as increasing the efficiency of the bank’s internal platforms. “He will partner with colleagues across markets and technology to enhance the client offering, incorporating the best artificial intelligence, machine learning and optimisation techniques,” Barclays adds.
Sandra Francisco has joined BNP Paribas in the bank’s New York office.
A spokesperson for the bank declines to comment on her appointment, but Profit & Loss understands that Francisco started in her new role on Monday and will be focused on selling FX prime brokerage and DEC products to institutional clients.
Francisco will report locally into Ira Rudman, director, head of institutional sales FXPB/DEC, Americas, at BNP.
She joins from Wells Fargo after one year working as a director at the US bank. Prior to that, Francisco was at Deutsche Bank, where she was a director, focused on prime brokerage sales, FX hedge fund sales and derivatives clearing.
Before joining Deutsche in 2008, she worked for over seven years as a vice president at Goldman Sachs, focused on credit sales and prime brokerage sales.
CFH Clearing has hired Michael Bleys as vice president, sales, EMEA, and handed existing employee, Harry Fry, a newly created business development role.
Bleys joins from Sucden Financial, where he spent over five years in the firm's e-FX division. His career also includes five years at Saxo Bank in both London and Copenhagen, where Bleys was a sales trading manager, and a year at Barclays Wealth and Investment Management as vice president, FX derivatives. He will be based in London, with a remit covering brokerages, regional banks and funds.
Prior to his new role, Fry spent the past two years working in CFH’s client services team. Before that, he was employed by JP Morgan Asset Management, initially as a UK funds consultant and later as an oversight analyst.
Profit & Loss understands that Liam Hudson is joining BGC Partners to run its e-FX businesses, including Fenics FX, which was launched last year, MidFX and the electronic FX options offering.
Hudson was last at Bank of America Merrill Lynch in London where he was global head of e-FX for more than eight years.
Hudson joined BAML from Barclays, a firm he joined when it took over the FX business interests of Lehman Brothers. At Lehman, he spent seven years in the e-FX business, including helping develop the FXLive platform as well as the firm’s algo execution capabilities.
Peggy Sullivan has joined technology provider Vela in a newly created chief of staff role.
Based in New York she will report to Vela CEO Jennifer Nayar and the firm says her responsibilities include establishing strong strategic partnerships, advising on market structure challenges and developments, building trusted relationships with key accounts, identifying opportunities to improve service delivery, and collaborating with the wider executive team on strategy and product innovation while also representing Vela across a number of industry groups and trade associations.