Sources familiar with the matter tell Profit & Loss that Alex Shterenberg, global head of FX algos at Bank of America Merrill Lynch in New York, has left the bank.

Sources say he is moving to another sell side institution – believed to be Barclays, in a senior e-FX role.

Shterenberg joined BAML in May 2013 as head of FX e-commerce for the Americas before assuming his latest role. He joined from a six-year career at JP Morgan in New York, where he was head of FX algorithmic products. Prior to JP Morgan, Shterenberg had roles at Broadway Technology and UBS.