What Happened to Rabobank?

After announcing a commitment to build a world-class forex operation nearly two years ago, Rabobank decided in June to curtail the business. The decision resulted in 105 job cuts in London (about one-third of the dealing room) as part of a restructuring of its wider international wholesale operation. With the decision to relocate the London-based […]
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CitiGroup Names Wise New Head of Investor Sales

Simon Wise is joining CitiGroup in London as the new head of global investor sales, confirms a spokesperson. Wise reportedly joined from AIG International in London; however, an official there declines to confirm his position. Wise will report to Christoph Bristiel, Citi’s manager for FX sales in London.  
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State Street Hires Commerz’s Newnham

Stewart Newnham has joined State Street Bank’s currency research division in London as number two to Avinash Persaud, the bank’s global head of research. Newnham is responsible for looking at the markets from a fundamental perspective and is helping to build micro foundations for determining market flows. Newnham was previously head of currency research at […]
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CAI Promotes Eedle to Treasurer; Starts Prime Brokerage Business

Simon Eedle, Credit Agricole Indosuez’s FX manager in London, has been named treasurer for the bank. He succeeds Christoph Lanne, who has transferred to the head office in Paris as head of budget strategy and planning. In other moves, the bank has made a couple additions to the London sales team. Roger Allen, formerly Bankers […]
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Tullett & Tokyo Names Perkins President in NY

Mark Perkins has been named president of Tullett & Tokyo North America. He succeeds Tim Boyle, who has taken full-time responsibility for Tullett’s wholly owned subsidiary, CastleNet – makers of TheBeast.com derivatives pricing and analytical service.
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Halifax Hires WestLB’s Coupland

WestLB’s London-based FX trading manager, Nigel Coupland, is joining Halifax next month. Coupland, who spent the past three years with WestLB, will be responsible for developing a customer focused FX business, says an official. He will report to Roger Woodbridge, head of FX and derivatives.
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Commerzbank’s Grew Exits the Markets

Daniel Grew, head of FX sales for Commerzbank in London, has retired from the markets. Grew, who spent the bulk of his career with JP Morgan, joined Commerz in mid-1996.
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Finigan Named New Chairman of CLS

Deutsche Bank’sJohn Finigan, previously a managing director at Bankers Trust in New York, has been named as the new chairman of CLS Services, the consortium of G20 banks that is developing an FX netting system. Finigan, who recently served as chairman of the New York Fed’s FX Committee, was named as Deutsche’s global head of […]
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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 […]
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Bear Stearns Hires BMo’s Jones in London

Neil Jones has joined Bear Stearns in London as a senior trader covering Canadian dollar products. Jones was previously with Bank of Montreal in Toronto, where he set up a 24-hour trading desk.
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