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On the Move

Babic Leaves Citi

Michael Babic has left his position as an e-FX sales director at Citi.

The bank confirmed Babic’s departure but declined to comment on the reasons behind the move or if anyone has been chosen to replace him.

Babic joined Citi in June 2009 (Squawkbox, 1 June, 2009). Prior to that he was a sales specialist at FX MarketSpace between 2007 and 2008.

Before that, Babic worked as an FX prime brokerage relationship manager at Deutsche Bank.

Ogawa to Depart Goldman Sachs

Wako Ogawa, an FX salesman for Goldman Sachs in Tokyo, is planning to leave the firm, according market sources.

Ogawa, a vice president at the bank, is reportedly set to join a different financial institution later in the year. Goldman Sachs declined to comment on the news or who will be replacing Ogawa.

Ogawa has been with Goldman Sachs since 2007.

Kotecha Joins Barclays?

Mitul Kotecha is believed to have joined Barclays in Singapore as head of FX strategy, Asia-Pacific.

He joins from Credit Agricole, corporate and investment banking, where he was the Hong Kong-based head of FX strategy. Kotecha spent 15 years at Credit Agricole having originally joined the bank from Standard Chartered in late 1999.

Burroughs Exits Nomura?

Mark Burroughs, executive director, FX e-commerce sales at Nomura, is believed to have left the bank.

His destination is unknown but sources familiar with the matter say he resigned last week and is taking another opportunity in the industry.

Burroughs joined Nomura as part of the team that moved over from Lehman Brothers when the Japanese bank bought certain assets of the failed investment bank in 2008. He joined Lehman in 2006 as part of the FX e-commerce sales team.

Sagurton Promoted at State Street

Rob Sagurton has been named as global head of sales for futures and OTC clearing at State Street.

New York based, Sagurton shifts from his role as head of US sales at State Street-owned Currenex, a role he took on when he joined the bank in September 2013 from Morgan Stanley’s FX prime brokerage team.

RBC Boosts Numbers In European Rates Team

RBC Capital Markets made several appointments to its European Rates trading team, in a bid to further expand the reach of its fixed income and currencies (FIC) business.

Andrew Graham joins the investment banking arm of the Royal Bank of Canada as a managing director, head of sterling Rates trading after 10 years in a similar role at Bank of America Merrill Lynch.

Neil Weatherall was also appointed as a managing director, head of sterling inflation trading. He joins from RBS.

Based in London, they will both report to Alastair Hollingdale, head of European Rates trading.

RBC has also appointed Richard Peter, who rejoins RBC as a VP, inflation trading and Mickael Makowski, who is named as an associate, inflation trading.

Paddy Owens, previously at Morgan Stanley, has joined as an associate, cross-currency trading.

These new hires follow the recent appointments of Tom Millar as head of UK and Ireland liability driven investors and banks Rates sales, in addition to Mehdi Kashani as head of asset-backed securities and covered bond trading in Europe.

Monaghan Joins Coutts as FX Director as Sharpe Retires

Raymund Monaghan has joined Coutts & Co in London as director of FX sales and trading.

Previously, he held a similar role at UniCredit in its markets and investment banking section, which he joined as a spot trader in May 2008.

He also spent over 11 years at Deutsche Bank as a senior FX trader, having started his career at the Commonwealth Bank of Australia in 1987.

Monaghan’s appointment follows the retirement of James Sharpe from Coutts, where he held the role of FX director for over 12 years.

Sharpe was a former head of FX sales with Unibank for five years, having similar roles at Bank of Tokyo-Mitsubishi and Interfirst Bank Dallas, which he joined in 1979.

He is currently a visiting lecturer in global financial markets at the London South Bank University.

Dominy New CEO of Firma Foreign Exchange

Firma Foreign Exchange has appointed Dave Dominy as its CEO, working with Michael Oshry, chairman of the firm.

Dominy has spent 15 years in a variety of senior banking and investment banking roles with a Canadian chartered bank, as well as eight years as CEO of a private equity group in Western Canada.

As CEO of a provincial regulatory body, he was directly involved in the implementation of new liquidity and capital standards for credit unions.

Polen Named Global Head of Electronic Execution at Fidessa

Fidessa has promoted David Polen to a newly created role as global head of electronic execution.

Based in New York, he reports to Mark Ames, global head of sell-side services.

Formerly head of business development, Polen will be responsible for delivering a range of products in keeping with the evolution of the financial markets, according to the technology vendor.

Prior to rejoining Fidessa in March 2012, he was the head of systematic trading at Lime Brokerage for nearly two years.

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