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Lloyds Bank Hires Chatterton for e-Commerce

Lloyds Bank Corporate Markets has appointed Richard Chatterton as e-commerce product manager as it prepares to launch its e-FX trading platform, Arena, in September.

Chatterton joins the bank in London from Thomson Reuters where he launched and managed Reuters Trading for FX (RTFX), an FX liquidity aggregator and trading platform. He reports to Lucian Lauerman, head of e-product management at Lloyds.

One of Chatterton’s key responsibilities will be working on the development of Arena, the bank’s new multi-asset class trading platform. In September Lloyds will begin the first phase of the platform’s launch with the roll out of FX and money markets trading capabilities. The bank’s strategy is to grow market share with more institutional clients to complement its dominant presence in the corporate market.

A veteran in the foreign exchange market, Chatterton has 30 years of experience in sales and product management. Before joining Reuters in 2005, he was head of product management of Centradia, an online FX dealing platform owned by the Royal Bank of Scotland, Banco Santander Central Hispano, Sanpaolo IMI and Société Générale.

From 1994 until 2000, he was head of spot FX at Banco Santander in London and before that he was a senior FX dealer at BZW (Barclays de Zoete Wedd). He started his career as a trader at Banca Della Svizzera Italiana, Nassau.

Rob Garwood, head of FX sales at Lloyds Bank Corporate Markets, says: “[Chatteron’s] knowledge of the FX market and his experience in managing FX electronic platforms will prove invaluable as we strive to strengthen our e-solutions capabilities to deliver a great FX offering to our corporate and financial institutions customers.”

Lloyds hired Garwood, the former head of European FX distribution at UBS, at the end of last year to spearhead the development of its e-FX offering. In January 2011, Lloyds become the latest shareholder in currency settlement system provider CLS Group. It will become a direct settlement member of CLS when Arena goes live.

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