Informed sources say that National
Australia Bank has a new global head of foreign exchange trading following the
departure of David Jones, who had held the role since mid-2013.
The sources say that Sydney-based Mark
Lawler has been named to run the FX trading business. Previously Lawler was
head of FX trading for Asia Pacific within NAB’s FICC business.
Jones joined NAB in London in September
2004 after a 10 year career with Westpac, prior to that he worked at Credit
Suisse, Continental Bank and Toronto Dominion Bank in a variety of trading
roles – mainly in the forward market.
In a separate move, Profit & Loss understands that FX veteran Jack Richards has relocated from Sydney to New York to become business manager of the bank’s FICC sales business there. Former trader Richards was previously director of financial markets and institutions credit at the bank in Sydney.
Confirmation of the changes was not
available from NAB.