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ING Hires Miragaya As New Head of FX

ING Barings has hired two former Salomon Smith Barney/CitiGroup dealers to its forex operation in New York. George Miragaya joined the bank in late July as the new head of FX sales and trading, while John Stapleton joined as a senior trader.

The hires mark a rebuilding of New York operation, which underwent a downsizing about 18 months ago, when several staff were cut as part of a wider cutback in the emerging markets operation.

Miragaya’s position is a new one for the Dutch bank. He is responsible for the US customer base, covering G7 and emerging markets currencies. Miragaya reports to Mark Fisher, global head of FX in London, and to Wietze Prinsen, co-head of debt capital markets sales and trading in New York. Miragaya declines comment and Fisher did not return calls by press time.

Miragaya brings a long career in investment banking to the role, having joined the old Smith Barney in late 1994 to build the North American sales team before the merger with Salomon Brothers in 1997. Prior to Smith Barney, he spent nearly seven years with Lehman Brothers in a similar role.

Meanwhile, Stapleton will be a vice president on the trading desk, reporting to FX trading manager Mike Norton. Prior to SSB, Stapleton spent four years with Dean Witter Reynolds, from 1988 to 1992.

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