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On the Move

Mehta Joins HSBC in FX Sales

Neel Mehta has joined HSBC in New York as a senior vice president in FX sales with a primary focus on corporate and hedge fund customers.

Mehta was previously a director in FX sales at Bank of America Merrill Lynch (BAML), which he left in April 2014 after working there for four years.

Before that he worked at JP Morgan as vice president on the hedge fund sales desk in London and in FX hedge fund sales at Lehman Brothers in New York prior to that.

He began his career in 1997 at ABN Amro in Chicago as a market-maker and proprietary risk trader in FX options.

Ng Exits BAML in Hong Kong

Sowen Ng, head of Asia-Pacific FX sales in Hong Kong, has left Bank of America Merrill Lynch.

His departure follows close on the heels of a number of senior FX sales dealers from the bank in the US, including Tony Dalton, Doug Horlick and Nicholas Zografos (Squawkbox, 18 September).

Ng joined Merrill Lynch in 2006 from Morgan Stanley, where he was executive director. BAML confirmed that Ng has left the bank.

Newedge Hires for OTC Clearing Sales

Newedge, a derivatives broker owned by Societe Generale, has appointed Jamie Gavin as head of institutional OTC clearing sales, UK.

Gavin will be responsible for both OTC clearing institutional sales and for ensuring Newedge’s product development, operations, and technology teams work closely together to develop its OTC clearing proposition. He will report to Will Davies, head of institutional and PTG sales, UK.

Prior to Newedge, Gavin was executive director of operations and global head of change for listed derivatives and OTC clearing at Morgan Stanley. He started his career at Goldman Sachs, where he focused on OTC collateral management, before joining Morgan Stanley’s prime brokerage margin group in 2005.

Lombard Risk Promotes Groetch to MD for the Americas

Lombard Risk Management, a provider of regulatory reporting, compliance and collateral management solutions, has promoted John Groetch as managing director for the Americas.

Groetch joined the company in April 2014 as regional sales director. Prior to joining Lombard Risk, he developed and executed the sales and go-to-market strategy for Markit Analytics in New York.

Before that, Groetch was head of risk sales at Calypso USA, COO of Razor Risk Technologies and CEO and co-founder of Treasury Management Systems. He holds an MBA in Concentrations Finance from the Simon School, Rochester, New York and a dual BS in Chemistry and Economics from the State University of New York.

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