ADSS has made two senior institutional sales hires in London.
Chris Andrews has been appointed as co-head of institutional sales for the firm’s UK business. Prior to joining ADSS, Andrews worked at GKFX Financial Services and Saxo Capital Markets, moving through a variety of sales-led roles. He was responsible for the sales trading and account management side of the business, servicing both the bank's retail and institutional clients.
Steven Whittet has also joined the company as co-head of institutional sales for its UK business. He previously held managerial roles in FX sales at Commonwealth Bank of Australia and ICAP Securities. Following this, he joined the Kyte Group as head of FX, before later joining GKFX as global head of institutional sales, where he introduced the set-up of a new prime broker and trading platform for the company.
Crypto trading technology provider Caspian has announced that cryptocurrency investment firm BlockTower Capital’s co-founder Ari Paul has joined its advisory board.
The appointment comes as Caspian also announced that it now connects to more than 25 exchanges and has 12 funds on its beta platform, with eight more clients expected later this month. The firm also says it will be adding its first OTC desk as a destination later this month and that it is allowing for a defined composite order book that aggregates and displays liquidity from more than 20 exchanges with the ability to trade against it using the Caspian Smart Order Router (SOR).
Dmitri Galinov, founder and former CEO of FastMatch, has announced that he has filed a lawsuit in the US District Court for the Southern District of New York against FastMatch and Euronext US for the unlawful termination of his employment.
Galinov left Fastmatch just over one year after Euronext acquired a 90% stake in the company, his departure was seen by many at the time as surprising.
The lawsuit asserts that Galinov was fired in June 2018 “improperly, unceremoniously, and under false pretense” as part of “a Machiavellian scheme”.
BNP Paribas has seen a raft of departures from it’s FX algo team over the past few months.
Profit & Loss understands that in London Silviu Vlasceanu, a senior quantitative analyst, Farzana Nanji, who worked in FX automated client execution, Tom Appleton, the head of FX algo execution, Ismail Zekhnini, an e-FX algo trader and Shameer Subedar, who worked within the e-FX algo team developing agency based algos, have all left the bank. In addition, sources indicate that in Singapore, Ashvin Parkash, head of e-distribution for Asia who was part of the same team, has also left BNP Paribas.
Phelim Keogan, who over the past 15 years has led the development of Fidelity International’s currency management capabilities globally, has recently departed from the company under a voluntary severance programme offered generally to senior executives across the firm.
Keogan was executive director for Treasury and global head of currency management at Fidelity International, based in Dublin, a role he took up in early 2002.
Prior to Fidelity Keogan was chief dealer for National Australia Bank in Dublin over a six-year period having joined the bank from an FX trading role at Ulster Bank.
Jim Cochrane has been named as head of North America sales for execution analysis firm BestX. Based in New York, the new role is something of a return to a speciality for Cochrane who spent almost five years at rival firm ITG running its FX TCA product set.
Cochrane left Deutsche Borse’s 360T earlier this year, where he was head of institutional investor sales for the Americas. Prior to that he was at ITG in the US, having moved from roles at Citi, Deutsche Bank and Royal Bank of Scotland.
The Wall Street Blockchain Alliance (WSBA), a non-profit trade association, has appointed Steve Ehrlich as its first ever chief operating officer. Ehrlich will immediately focus his attention on driving value for WSBA members while simultaneously expanding the WSBA’s footprint and impact across global markets, the Alliance says.
The association adds that Ehrlich “brings over fifteen years of experience to the WSBA, and he is an acknowledged thought leader in the key areas of blockchain technology, financial markets, and fintech innovation”.
HSBC’s former head of FX trading for Europe, Stuart Scott, has won his appeal against the decision to extradite him to the US to face trial over allegations that he took part in front running trading relating to an order for Cairn Energy.
Scott’s former boss, Mark Johnson, was convicted of charges related to the Cairn Energy deal in a US court last year and sentenced to two years in jail earlier this year, however he is appealing the decision and won a bail application in June.
Profit & Loss understands that four members of Deutsche Bank’s FX team are leaving the bank.
Chris Read, head of the investors desk in institutional FX sales has left, along with Morgan Walsh, another member of the investor desk team. Separately, Sam Gravatt has left the bank to join JB Drax in a sales role according to sources – at Deutsche he was also part of the FX sales team.
Finally, Mary Leung is understood to be departing the bank, she was a member of the bank’s FX and listed derivatives algo quant team
Mesirow Financial has announced the addition of Christopher Langs to its core fixed income management team as managing director. He will serve as a portfolio manager and credit analyst and be responsible for the oversight of portfolio construction and trade implementation.
Langs has more than 26 years of investment management experience and joins from GW&K Investment Management in Boston where he was a portfolio manager and vice president, managing US high yield and investment grade corporate bond strategies for both institutional and retail clients.