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On the Move

CORRECTION: Pacifico Joins Mizuho Bank

Contrary to the report in Squawkbox on 10 March, Ryan Pacifico has joined Mizuho Bank as vice president – senior EMFX dealer in New York, not the Bank of Tokyo Mitsubishi as a spot trader. He was previously director – head of execution trading at Chapdelaine FX, part of Tullett Prebon.

Pacifico moved to Chapdelaine FX about 16 months ago from TD Bank Group, where he was a G10 FX spot dealer for just over a year. Before that, he was North American head of electronic trading and pricing at Standard Chartered Bank.

We would like to apologise for the error and any confusion caused.

Steiner Joins TD Securities in New York

Adam Steiner will be joining Toronto-Dominion on 28 April as a director, foreign exchange, institutional sales at TD Securities, based in New York. He will report to Glenn Juhlin, managing director, head of US foreign exchange, according to a bank spokesperson.

Most recently, Steiner was vice president of RBC Capital Markets’ global macro foreign exchange sales business.

Earlier this month, TD hired Michael Twaits as global head of foreign exchange and metals (Squawkbox, 14 April). He replaces Michael Gibbens, who leaving the company for personal reasons.

CIBC Hires Pennell in London

David Pennell has joined Canadian Imperial Bank of Commerce (CIBC) in London as executive director, FX options trading, as reported in the midweek issue of Squawkbox. He will be focused on expanding the bank’s FX options product offering in growth markets, according to an internal memo seen by Profit & Loss.

He will report to Pauric Hanna, executive director, FX options trading, who joined CIBC from RBS in early 2012 (Squawkbox, 16 January, 2012).

Pennell has more than 20 years of industry experience. Most recently, he has been executive director of CEEMEA FX options trading at JP Morgan Chase in London for the past 10 years, joining Bank One in May 2003 (Squawkbox, 19 May, 2003) before the merger with JP Morgan Chase in early 2004. Before that, he worked 10 years at RBC Capital Markets as director, G10 FX options trading in both London and Singapore.

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