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.
Despite multiple requests for comment, a spokesperson for BNP Paribas did not respond to confirm the departures ahead of press time.
Vlasceanu, who left the bank in April, started at Goldman Sachs the following month as executive director in the systematic trading strategies group. At BNP Paribas he had been responsible for building the Cortex iX execution algorithms for FX marketplace, designing and building the bank’s TCA solution for performance analysis of execution and the marketing and client analytics from the quant perspective.
Prior to joining BNP Paribas in 2014, Vlasceanu had worked at Cheuvreux in Paris since 2009. At the time of his departure from there he held the title of head of quantitative algorithms.
Nanji also left the French bank in April, joining HSBC in May to work in e-risk liquidity management. Before joining BNP Paribas in 2014 she worked as a director of FX sales/structuring at Commerzbank and spent over nine years as vice president, FX structuring at Credit Suisse.
Zekhnini is a more recent departure from BNP Paribas’s FX algo team, having left in July to join Morgan Stanley as an e-FX trader in its electronic market making and quantitative trading team. Prior to joining BNP Paribas in 2016, Zekhnini worked in quant risk at AG Insurance in Brussels.
Subedar, whose next destination is not known at this point in time, had been with the bank since 2012 and had also done stints working for Morgan Stanley and JP Morgan in Hong Kong, and Citi and Commonwealth Bank in Sydney. Before he moved to the banking sector, Subedar worked for as an analyst/programmer for Oasis Capital Management and as a software engineer for both BAE Systems and Motorola.
Appleton’s exit from BNP Paribas was less recent, he left the bank in November last year to take a role with Credit Agricole as executive director, FX algorithmic execution.
He had spent four years at BNP Paribas, prior ot which he had a brief stint working in the fixed income algo team at Morgan Stanley, spent more than four years in the FX algo trading team at RBS and over one year in fixed income analytics at Citi.
Profit & Loss understands that Parkash, who has been with BNP Paribas since 2013, after five years working in FX sales for Citi, is joining Nomura to head the e-FX distribution and sales business there. He will continue to be based in Singapore and will start at the end of August.