Saxo Makes Four Hires

Saxo Bank, formerly Denmark-based Midas Brokers, makes four senior hires. Hans-Petter Bjornestad joins the bank as global head of sales with full responsibility for sales, customer services and after sales support. He joins after three years with Hugin, a financial news distributor in Norway, prior to which he spent 13 years with Reuters, culminating in […]
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New Chairman at CLS

Fritz Klein, has been elected as the new chairman of the board of directors of CLS Group and CLS Bank International. He succeeds Suzanne Labarge, vice chairman at Royal Bank of Canada, who has held the position since June 2001. Klein was nominated for the new position by Credit Suisse First Boston, and is currently […]
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Changes at Julius Baer

Stefan Jaerger recently took over as head of FX trading at Bank Julius Baer, the bank confirms. The role gives him responsibility for FX spot, FX emerging markets and FX global options, and he reports to Eftychia Fischer, head of trading for the bank. Jaerger replaces Peter Gerlach, who has become head of sub-business line […]
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UBS Adds to Asian Spot Desk

Following the report in last week’s Squawkbox, Darren Barker has been confirmed as joining UBS Warburg’s spot trading desk in Singapore, along side Christoph Kaeser. Barker has been out of the markets for some time, but was previously head of the spot desk at Bank of America’s London operation, which he left in late 2001. […]
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Sumitomo Adds Liquidity to FX Connect

Sumitomo Trust & Banking is to provide liquidity to FX Connect, State Street Corporation’s multibank electronic FX trading system. “FX Connect enables both clients and counterparty banks to substantially reduce the time and back office order processing burden of online FX trading,” says Shinji Imanishi, deputy general manager of financial products and marketing at Sumitomo. […]
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Saxo Secures Further Funding; Bolsters Management

Following its move towards the UK retail market through a link with E-Trade (see Profit & Loss, June 2003), Copenhagen-based Saxo Bank has attracted ?10 million in subordinated loan capital from Deutsche Bank and made a number of senior hires intended to ensure the bank’s long term forward momentum. SaxoTrader, Saxo’s Internet-based trading system, is […]
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Will the Future be White Labelled?

The white labelling of products is seen as a logical next step for both large and small banks alike. Large banks sell an unbranded system to their smaller bank clients, and each side is said to benefit from increased flow and minimal technical development costs. The logic of this approach is supported by concerns that […]
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GFI Extends Range of Credit Services

Through an agreement with Reuters, GFI Group’s credit default swap data and Fenics Credit pricing tools will be disseminated over Reuters 3000 Xtra, Reuters Bridgestation and Reuters Trader. Separately, the brokerage has released a new online vanilla and exotic FX option pricing service. The deal with Reuters means GFI’s data will reach a wide range […]
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Financial Objects Improvements to Options and CLS Tools

Financial Objects is gearing up for the addition of an FX OTC options module for its Activebank2 Treasury system. Activebank2 offers a modular platform for banks that want to take in some or all of the software vendor’s products, which span the front, middle and back office and include FX, money markets, commercial deposits, government […]
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ABN Continues Push

Vijay Vankadari joins ABN Amro as executive director, head of structured credit sales and financial markets distribution to asset managers and insurance clients in Germany and Austria. Based in Frankfurt, he reports jointly to Edward Wassink, global head of financial institutions and public sector distribution, and Hermann Watzinger, head of financial markets for Germany and […]
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