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On the Move

Citi Hires Donnelly?

Market sources say that Martin Donnelly has joined Citi in New York as a senior spot trader.

Donnelly joins from Nomura in New York where he was head of G10 spot trading, at Citi it is believed he will report to director and head of trading Keizo Fujii.

Donnelly joined Nomura in May 2011 from Graham Capital Management.

Reich Joins GTS

Steve Reich has joined automated market maker Global Trading Systems as head of FX and commodities liquidity solutions.

Reich joins from CME Group, where he was head of FX clearing having joined the Merc from Pivot Solutions when it was acquired by CME.

Prior to Pivot Solutions, he was CEO of technology provider FX Bridge, before which he was co-founder and COO of Hotspot FX. Earlier in his career, Reich held senior management and dealer roles at banks including Barclays Capital, HSBC and Credit Suisse.

“As we continue to expand our offerings into execution services, Steve brings the unique combination of serial entrepreneurship and extensive experience as an FX trader,” says Ari Rubenstein, president and CEO of GTS. “Steve's career has evidenced his deep understanding of the importance of good citizenship within the capital markets community and the need to build strong relationships with trading counterparties, which are both important parts of our firm's philosophy. Adding Steve to the GTS team will help us leverage our firm's technical excellence and trading depth to further strengthen those relationships as we grow in new asset classes.”

Reich adds, “GTS has an exceptional track-record of performance in cash equities and futures, and in the past year has successfully diversified across the fixed income complex. We see a tremendous opportunity to leverage our platform and expertise for expansion into additional asset classes, and I'm excited to help lead that effort into the FX, metals and energy markets.”

GFI Names Mexican Board

GFI Group has announced key appointments to the Board of Directors of its affiliate GFI Group Mexico.

The appointments are Richard Leighton as director and chairman of the board and Jonathan Davis Arzac, Leonel Guarneros Trujillo, Guillermo Prieto Treviño, Manuel Robleda González de Castilla, and Christopher DAntuono, as directors, as well as Jaime Eduardo Ortiz Pallares, as secretary of the board

Davis Arzac, Guarneros Trujillo, Prieto Treviño and Robleda Gonzalez de Castilla will serve as independent directors.

Nick Brown, managing director financial products Americas at GFI Group, says, "GFI is making a long-term investment in Mexico as we believe firmly in the potential of its market. We are working hard with the authorities to improve transparency, liquidity and overall service in the market.”

The new office will operate GFI’s electronic trading platform CreditMatch for fixed income trading. Mexico joins GFI offices in Peru, Argentina, Chile and Colombia.

NY Fed Names Musalem to Run EMIA Group

The Federal Reserve Bank of New York has named Alberto Musalem executive vice president and head of the Emerging Markets and International Affairs Group (EMIA). He will also serve on the bank’s management committee.

Effective January 13, 2014, Musalem will lead a group dedicated to fostering international financial stability and expanding international relationships on behalf of the bank.

William Dudley, president and chief executive officer of the New York Fed, says, “[Alberto] brings a wide range of markets and international policy experience, developed in both the public and private sectors. This will greatly benefit the New York Fed and the public it serves.”

Musalem has nearly 20 years of experience in markets and international finance in the government, academic and non-profit sectors. He is a managing director and partner of Tudor Investment Corporation where he heads the firm’s research group and serves on the firm’s management, capital allocation and strategy committees.

Prior to joining Tudor, Musalem was an economist at the International Monetary Fund, focusing on policy development and programs across emerging markets. He was also an adjunct professor of International Financial Markets at the School of Advanced International Studies of Johns Hopkins University. He also worked at Bankers Trust and McKinsey & Co.

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