Jefferies cut its global electronic FX business, including marketing making and algos, but is keeping its FX prime broking and FX voice businesses, according to sources. These sources say New York-based Michael Porzio, SVP and eFX product manager, and SVP Shawn Egger, as well as London-based Tom Robinson, MD and head of European FX sales, […]
TrueFX, a venture between Integral Development and Jefferies FX prime brokerage business, has announced the launch of the TrueFX Clearing Member network, with Axicorp, FXCM and Velocity Trade as the first members. Clients of the venture, which was announced in November 2019, will have the option to clear through Jefferies FXPB, the central credit counterparty […]
Integral has partnered with Jefferies to launch a new liquidity network called TrueFX, which aims to leverage the former’s technology and the latter’s credit intermediation services to reduce trading costs for buy side firms, which includes retail brokers, macro hedge funds, prime of primes, and regional banks. Essentially, the aim of this initiative is to […]
Bryan Seegers, senior vice president responsible for global eFX trading, algo execution and liquidity management at Jefferies in New York, has left the firm. His next destination could not be confirmed by press time. Seegers joined Jefferies in mid-2017 from ADS Securities, where he spent nearly five years, last as co-head of global e-FX coverage […]
Jefferies has added two FX traders to its team in New York with Paul Kohn and Matt deMarzo joining the FX desk today, according to sources.
The pair both spent the past couple of years at ANZ, Kohn most recently as a director, and deMarzo as a vice president. Kohn joins Jefferies as a managing director, FX sales/trader, reporting to Brad Bechtel, global head of FX at Jefferies, while DeMarzo joins as a vice president, sales trader, reporting to Kohn.
Capitolis has gone live with a foreign exchange credit switching service, Capitolis Switch.
In a release issued today, Capitolis says that its mission is to address capital markets constraints in the financial system and claims that, with the launch of Capitolis Switch, a key credit issue is addressed. The firm says that this service will enable the unbundling of execution, processing, capital and risk in FX prime broking (FXPB).
Capitolis says it is working with Citi, Jefferies and FXCM in launching this new service.
Tom Robinson has joined Jefferies as managing director in London to help build the firm’s e-FX business. He will report to Ray Kamrath, head of FX at Jefferies.
Robinson joins from a senior sales role in London at MahiFX, a role he took up in March 2015.
Prior to Mahi, Robinson spent with years at Goldman Sachs, ending his spell there as global head of e-FX sales. Before Goldman, Robinson spent almost five years at Barclays in the BARX e-sales team.
Jefferies has hired Michael Porzio as SVP, head of e-FX product, Bryan Seegers as SVP, quant relationship management, and Patrick McInerney, SVP, sales trader.
All three will be based in New York and will report into Ray Kamrath, global head of FX at Jefferies.
Porzio started his career in financial services when he joined Merrill Lynch in 2005. Following the acquisition of Merrill Lynch by Bank of America, Porzio was made regional lead, VP of e-FX client services in 2010 of the newly minted Bank of America Merrill Lynch (Baml). In 2012, he was named as VP, e-FX sales, America at the bank.
Jefferies has hired Brandon Mulvihill and Anthony Mazzarese, both formerly at FXCM, as the firm looks to strengthen its FX business by expanding its prime brokerage capabilities.
Mulvihill has been named as managing director, global head of FX prime brokerage, and Mazzarese has been appointed as senior vice president, FX prime brokerage sales. Both will report into Ray Kamrath, global head of FX at Jefferies in New York.
Prior to this, Mulvihill was the global head of FXCM Pro. Mazzarese was a senior vice president at FXCM Pro, and before that, worked in an FX sales role at Citi.
David Hitchins, managing director and head of the London FX team at Jefferies, passed away unexpectedly on Monday morning.
“We are extremely grieved to inform you of the untimely passing of an important and well-loved member of the Jefferies family,” said an email that went out from Jefferies announcing the news.
The email continued: “An industry veteran with twenty years of experience trading FX and FX derivatives, David was considered a visionary leader and an incredible team player who possessed a formidable work ethic. He was a loyal and trusted friend to many and a true gentleman. He will be greatly missed by all who knew him.