Paul Chappell, founder and CIO of currency manager C-View and director of education at ACI – the Financial Markets Association, passed away at the weekend after a short illness.
In a statement, Sue Attwood, president of ACI UK, says, “ACI UK is devastated at the loss of their colleague, supporter and friend Paul Chappell. Paul was a stalwart of the foreign exchange market – both as a veteran market practitioner with a long and illustrious career and as a committed proponent of industry best practice. We will all miss him very much. We extend our most sincere condolences to his wife Anne and his family at this time.”
Paul Chappell was a passionate advocate for the foreign exchange industry, highlighted by him taking on the role of director of education at ACI just last year in an effort, he told me, to give something tangible back to the industry. He also strongly believed that the industry required leadership and guidance as it faced the challenge of evolution – and was prepared to be a part of that.
Paul started in the banking industry in 1974 at Hambros Bank, just as the world came to terms with the oil shock, and then moved to Chemical Bank, where he spent seven years. He then was recruited by the bank with which he is most associated – Bank of America, with the brief to build the business – something he did most successfully, turning it into a foreign exchange powerhouse.
In 1996, Paul made a move that was at the time very rare – he left the banking industry to set up his own currency manager, C-View. At that firm Paul became a pioneer in so many areas, not least his advocacy of the e-channel for trading not only developed markets but also emerging markets. As part of this, he appeared as a speaker at P&L’s first ever event in 2000, “What is e-FX?” He was also inducted into the Profit & Loss Hall of Fame in 2010.
His passionate advocacy for this evolution did not sit well with everyone but such was his knowledge and gravitas, not to mention the esteem in which he was held, his views were highly respected and, not for the only time, ahead of their time.
It is inevitable that such a deep thinker about the foreign exchange industry would interact with someone in my position and I am proud to have called Paul a friend. He was as quick to praise an opinion as he was to disagree with one, but even when there wasn’t accord you knew his arguments were based upon his understanding of what was best for the industry.
So much of what Paul did was behind the scenes, in the last few years he became a strong supporter of ACI’s work and always had an encouraging word for those working to change the organisation. He was a moderniser who was reinforced by traditional values.
On behalf of everyone at Profit & Loss, I extend our deepest condolences to Paul’s family, friends and colleagues – he will be sorely missed.
Rest in Peace Paul Chappell.