One of Standard Chartered’s trading heads has left the bank according to market sources. Neal Thomson, who was head of options trading in New York reporting globally to Richard Leighton, global head of FX, reportedly left on 17 October.
One market source says that Thomson’s departure resulted from the internal movements within the bank including that of Keith Underwood, the former London-based head of FX trading, UK and Europe. Underwood relocated to New York on 1 June to take up Todd McDonald’s former role as head of trading, Americas, when the latter headed to Singapore as global head of foreign exchange electronic pricing and trading (see Squawkbox, 1 September).
Sources report that Steve Chan who joined the bank last Monday as a director (Squawkbox, 20 October) was not brought in as Thomson’s replacement but given the circumstances he may assume the head of options trading role.
Thomson is headed for the buy side, according to a source, although his exact destination remains unknown. The bank did not respond to enquiries by press time.