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On the Move

Babic to Join Goldman Sachs

Michael Babic is due to join Goldman Sachs as a senior e-FX salesperson.

Goldman Sachs declined to comment on the new hire, but Profit & Loss understands that Babic will start in his new positions in late August.

The bank also declined to comment on who he will be reporting into, stating that these types of positions often have multiple reporting lines.

Babic recently left his role as an e-FX sales director at Citi (Squawkbox, 30 June) after five years with the bank.

Prior to Citi, he had worked at FXMarketSpace and Deutsche Bank.

Watson Joins Pioneer Trader

James Watson has joined the London-based FX firm, Pioneer Trader.

The former head of foreign exchange transactions for Europe, the Middle East and Africa (EMEA) at Thomson Reuters left last week in order to take on the role. 

He takes over as managing director with responsibility for developing market share and expanding the range of products and services available and will take up his role following successful authorisation from the FCA.

The firm was launched in June 2012 as PTL and rebranded as Pioneer Trader in April 2013. 

In March 2014 the parent company of ADS Securities, the Abu Dhabi-based forex brokerage, acquired a majority shareholding in PTL.

It acts as an introducing broker to ADS Securities the Abu Dhabi-based forex brokerage, which is regulated by the Central Bank of the UAE.

Watson was part of FXAll when it was taken over by Thomson Reuters in 2012.

He also previously held roles at Morgan Stanley, GFI Group, Lehman Brothers and Societe Generale, where he was head of electronic execution and sales.

FIA Elects Corcoran as New Chair

The Futures Industry Association has announced that Gerald Corcoran, chairman and chief executive officer of RJ O'Brien & Associates, has been elected as its new chairman.

Corcoran has been a member of the FIA board since March 2008 and has been serving as vice chairman since March 2013. He will serve as chairman until the next annual meeting in March 2015.

Corcoran replaced Michael Yarian, managing director at Barclays, who stepped down from the chairmanship after Barclays appointed him to a new position as head of its rates trading franchise in the US.

Yarian had been the head of agency derivatives services at Barclays, which includes the bank's derivatives clearing business.

FIA also announced the election of two new board members: Jan Bart de Boer, board member and chief commercial officer of ABN AMRO Clearing Bank NV; and Raymond Kahn, head of futures clearing and head of agency derivatives services, Americas, at Barclays.

AFEX Makes Three Hires in Australia

AFEX has made three new hires in Australia in order to support its growth in this market.

Justin Dooley has been hired as an options account executive and Jodie Gwynn-Jones as an enterprise account executive in AFEX’s Sydney office. Darren Tomich has been appointed as an options account executive in the Melbourne office.

The trio have extensive experience working in banks and FX institutions, including the likes of Travelex, Western Union and the Commonwealth Bank of Australia.

GLEIF Chooses CEO to Drive LEI Roll Out

The Global Legal Entity Identifier Foundation (GLEIF), supporting the implementation and use of a global legal entity identifier (LEI), has appointed Stephan Wolf as CEO. Wolf currently holds the position of chief technology officer (CTO) at Interactive Data Managed Solutions.

The LEI initiative is designed to create a global reference data system that uniquely identifies every legal entity or structure, in any jurisdiction, that is party to a financial transaction. Endorsed by the G20, the establishment of a Global LEI System (GLEIS) is aimed at improving measurement and monitoring of systemic risk.

Wolf has experience in establishing data operations and global implementation strategy. He has led the advancement of business and product development strategies throughout his career.

In 1989, Wolf co-founded IS Innovative Software GmbH and served first as its managing director. He was later named spokesman of the executive board of the succeeding IS.Teledata AG. This company ultimately became part of Interactive Data Corporation where Wolf held the role of CTO until 2010.

“We had a large number of excellent candidates, but Stephan’s strong background, exceptional vision and energy impressed us and we are sure he is the right person to guide the GLEIF at this important stage,” said the GLEIF board chair, Gerard Hartsink.

Wolf is expected to assume his role in the near future. Hartsink will serve as interim CEO until that time. The GLEIF conducted its inaugural board meeting on 26 June in Zurich, Switzerland.

Mortensen Named CCO of Tradable

Tradable has appointed Patrick Mortensen as chief commercial officer (CCO), who joins the firm as it doubles the size of its development teams.

Prior to joining the trading platform he held a series of managerial positions within Saxo Bank as regional head of North America and head of institutional business and institutional marketing respectively.

Mortensen joins the organisation with nine years of retail FX experience in various managerial roles within sales, marketing and business development.

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