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On the Move

Holman Departs BAML’s FX PB Business

Richard Holman is understood to have left the Bank of America Merrill Lynch’s (BAML) London-based FX prime brokerage team.

He joined the bank in April 2007 from JP Morgan, where he served in the middle office for rates exotics and hybrids trading for a year.

Citi Relocates Strategists

Citigroup has relocated two members of its FX technical strategy team to Singapore and London.

Shyam Devani, formerly based in London, has been moved to Singapore, while Dan Tobon moved from New York to London.

The changes were effective 5 May, according to an internal email e-mail from New York-based chief technical strategist Tom Fitzpatrick.

“This realignment gives us for the first time a structure with team members located in all three time zones. I feel sure this can only enhance the quality and delivery of the CitiFX Technicals product,” wrote Fitzpatrick.

Eliot Joins LCH Clearnet Board

LCH.Clearnet Group has announced that Jonathan Eliot will join the board of directors of LCH.Clearnet Ltd, the group's UK central counterparty, as a non-executive director, effective immediately.

Eliot has been chief risk officer at Man Group since 2011. Previous positions include market risk director at Barclays Bank from 2009 until 2010; two periods at Deutsche Bank, firstly from 2001-2003 and then from 2006 – 2007; and 14 years at JP Morgan from 1987 – 2001, where he was latterly head of Asia corporate risk management.

Nadex Hires Horwitz as Chief Regulatory Officer

The North American Derivatives Exchange (Nadex), has announced the appointment of Donald Horwitz as general counsel and chief regulatory officer.

In his new role Horwitz is responsible for providing counsel and guidance on all regulatory and legal matters within the exchange.

Based in Chicago, Horwitz will join as a member of the senior management team reporting to Timothy McDermott, who is transitioning from his role to assume full responsibility as Nadex’s CEO.

Horwitz joins Nadex from the Intellectual Property Exchange International, where he served as a managing director and general counsel. He has also worked as managing director, general counsel and chief regulatory officer at OneChicago.

His previous financial experience includes holding various positions for the SEC, Merrill Lynch, BrokerTec Futures Exchange, The Options Clearing Corporation and ABN Amro.

Nadex is a US-regulated exchange that offers trading of binary options and spreads on a wide range of the most heavily traded forex, commodities and stock indices markets.

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