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 […]
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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 […]
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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 […]
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Deutsche Transplants Barrett From Far East to Frankfurt

Alex Barrett, who ran Asia-Pacific regional FX sales for Deutsche Bank from Hong Kong, has relocated to the bank’s headquarters in Frankfurt. Barrett takes up a new position as head of FX sales for Germany. He will be using his derivatives background to enhance the local effort, says an official. Barrett now reports locally to […]
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DLJ Plans London Unit – Jury Leaves New York

Ken Gettinger, global FX manager for Donaldson, Lufkin & Jenrette, says now that the New York team has been operational for a year, he is close to announcing a new manager to build a London team. Separately, in New York, chief dealer Steve Jury has left the investment bank to pursue other interests, say sources. […]
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NatWest Hires From JP Morgan Pool in London and New York

NatWest Global Financial Markets bolstered its derivatives team in London and New York with two hires from JP Morgan. Jeremy Gelber joins the currency options desk the City, while Steve McCaughly joins the New York desk. They report to Luke Ding and Tim Carrington in London. In another JP Morgan hire, NatWest has added Lauren […]
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RepNat Shuts Fledgling Zurich Forex Operation

Less than a year after hiring a team from UBS to start a trading operation in Zurich, Republic National Bank of New York (which is currently in the midst of a merger with HSBC) has closed shop and shifted trading to London. According to a spokesperson, all the traders have been let go. Although the […]
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