The Euro: A Turbulent Six Months

By Paul Downs, Thomson Global Markets When the euro was launched at the start of this year amidst much self-congratulatory backslapping from politicians within the EU, it was heralded as the new reserve currency, rivalling the dollar. Well, it has to be said that its first six months of life have resulted in a far […]
Read More »

FX Committee Sets its Sights On Y2K Barriers & Force Majeure

Following a tumultuous year in the currency markets, the Foreign Exchange Committee (FXC) is continuing its long-runningefforts to reduce settlement riskand provide information so as to improve the functioning of the FX markets. The FXC is an FX industry body that is sponsored by the Federal Reserve Bank of New York. Currently celebrating its 21st […]
Read More »

Korea’s Recovery: Too good to be true?

By Kevin Daly, Standard & Poor’s MMS There seems to be no shortage of good news out of South Korea these days. Recent economic data confirms the only V-shaped recovery among the ravaged Asian economies, with 1999 GDP expected to rise well above 6%, after a 5.8% contraction in 1998 and 5% growth in 1997. […]
Read More »

CAI Undergoes Expansion- Bolstering Global Operation

Credit Agricle Indosuez (CAI) wants to be number one. The French bank has recently made a number of hires in London to bolstering its euro coverage, according to London-based FX manager Simon Eedle, and is also looking to strengthen its sales operations. Steve Walker joined the bank as deputy chief dealer in charge of euro/dollar […]
Read More »

RBC Duo Klingsick & Barnett Announce Joint Retirement

Having worked together for 25 years, all of it with the Royal Bank of Canada (RBC), Martin Klingsick and David Barnett announced their joint decision to retire from the markets this summer. Upon leaving, Klingsick was the regional head of treasury for Europe and Asia covering all products from London, and Barnett was the co-global […]
Read More »

NAB Hires CSFBs Cole In Overseas Sales Drive

The National Australia Bank is midway through a concerted effort to broaden its reach into the corporate and funds management sectors. Since January, the bank has relocated several senior managers in an effort to place local heads of markets in each of its major centres. NAB shuffled the deck at the beginning of the year, […]
Read More »

Perréard Partners Investment Starts Trading in Geneva

Perréard Partners Investment (PPI), the new Geneva-based asset management firm started by Yves Perréard, began trading in May with CHF10 million under management. Perréard says he hopes to raise this amount to CHF100 million by the end of the year. Perréard, chairman of PPI, was previously the senior managing director in charge of the European […]
Read More »

The Interbank Market is Dead-Is Customer Business Next?

The forex market is on the verge of a dramatic transformation-one that could mark the death of the interbank market as we know it-or so say some industry sources. The change would put customers on par with the banks, using the same electronic broking services that have nearly obliterated FX spot brokers and changed the […]
Read More »

Banks Reassess Their Commitment to Singapore

While some in Singapore say life is beginning to return to normal since the height of the Asian currencies crisis, with volumes picking up and confidence returning, others say that the recovery may not be robust enough for banks to justify keeping trading desks fully staffed. In the past, the off-shore funds business kept a […]
Read More »

UBS Bleeds Spot Traders But Hires Senior Economist

UBS has lost about a half-dozen traders from its London spot desk in recent months. Among those that have left the bank are: Steven Walker, Stuart McPhee, Paul Carlier, Giovanni Pozzi and Bjarne Olesen, a spokesperson confirms. Walker has joined Credit Agricole Indosuez as a euro/dollar trader in London; McPhee has joined Merrill Lynch in […]
Read More »
1 2 3 4 5 278 279 280 281 282