The GFMA’s Global FX Division (GFXD) has named Claudia Jury, managing director and co-head, currencies and emerging markets at JP Morgan as its new chair, and Nigel Khakoo, head of G10 FX at Nomura as vice chair. The trade group also announced it added Scotiabank as a new board member, bringing its total membership to 25 FX market participants.
The GFXD says its aim is to promote efficiency, international harmonisation of regulation and high standards of conduct in the global FX market.
Commenting on the governance appointments made at a board meeting last month, James Kemp, managing director at the GFMA, says: “Claudia has proved a highly effective vice chair over the past year and we are delighted she will now lead the committee as chair.
“Nigel has a wealth of market knowledge and is a long-standing member of the board. This is the first time a Japanese bank has taken a GFXD governance role and it comes at an important time, given the AsiaPac region’s rapid development.”
“Following the completion of his term as chair, Chris Allington, who was recently promoted to interim head of financial markets at Standard Chartered, now steps down. I would like to thank him for all his excellent guidance, support and promotion of the GFXD’s activities.”
Commenting on the addition of Scotiabank to the GFXD board, Kemp continues: “We are delighted to welcome Scotiabank – and Camilla Sutton – as a member. With our permanent presence in the key regions, North America, Europe and Asia, the Global FX Division seeks to ensure the fullest global representation of dealers in the FX market. We provide a unified global voice for our members as we seek to ensure global harmonisation of regulation and a well-functioning, fair and effective market.”
Sutton is currently the global head of FX at Scotiabank, a role that she assumed in May 2015, where she is responsible for global FX sales, trading and strategy. Previously, she was Scotiabank’s chief FX strategist for nine years.