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BBVA Appoints Global Head of FX

Sources tell Squawkbox that Spanish bank BBVA has appointed a global head of foreign exchange as it seeks to expand its FX activities.

Andrew Brown has been appointed to what is a new role at the bank, focusing on developing FX as an asset class. Brown was last with HSBC in London where he was global head of foreign exchange, a role he left in March 2009 when he decided to take a break from what was then a 16-year career (Squawkbox, 9 March 2009).

He left HSBC on a high as the bank’s foreign exchange business reported a 76% revenue increase for 2008, his eighth year with the bank after joining in Hong Kong in 2000. In 2004 Brown transferred to HSBC London as regional head of foreign exchange and in 2006 became HSBC’s sole global head for the FX business.

Prior to HSBC Brown worked for Citigroup in Europe and Goldman Sachs in Europe and Asia.

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