Buying back Vermont
HVB take on two more
HVB, part of the UniCredit markets and investment bank, has hired a further two people in the last week – taking their number of new recruits to six in the past six weeks. Jared DeCore joins the bank from HSBC in corporate sales and Veda Russo comes from Standard Bank to work in institutional sales. Both started their new roles this week and are based in New York. The two report to Kenan Altunis, global head of foreign exchange sales at the bank. “There will be more hires to come in both NY and London,” says Altunis. Watch this space.
Citi lose one in sales and one in trading
Grant Scott Douglas left Citi last Friday and heads across Canary Wharf to join Credit Suisse’s Global FX sales desk. A start date is yet to be confirmed, so no doubt he is enjoying the pleasant weather during his gardening leave. Meanwhile, Danny Brader left his position as vanilla euro/dollar options trader at Citigroup two weeks ago to go to Dresdner Kleinwort. The Kiwi is due to start at his new role as director, senior trader in currency options on May 1 and he will report to Ian Robertson, head of FX trading at Dresdner.
But make hires in exotics
As fast as the two go through the out door, Barry McCarthy and Chirag Patel are coming in as exotic option traders. “Barry and Chirag will bring to Citigroup a real depth in exotic trading experience,” Citi’s global head of FX trading Marcus Browning told the Weekly FiX. The two are both well known to Browning, who managed them at former shop Merrill Lynch. They will start at Citi in July after the obligatory three months out of the market.
While Merrill makes replacements
Merrill’s rebuilding of its FX business is continuing apace. The bank has hired Chris Dunning from Royal Bank of Scotland as a senior options trader based in London reporting to Tim Carrington, global head of FX trading; Mike Choi joins from Morgan Stanley and Toby Hsieh come across from HSBC. The latter two will be based in New York and report to Rob Bogucki, head of FX trading for the Americas. Merrill has also lured Chris Weiss from Bank of America. He will be based in London and report to Yacine Kanoun, head of rates structuring EMEA
Quessey forgives Brevan Howard
It is rumoured that Brevan Howard has rehired Andrew Quessey, who left reportedly on bad terms in 2005. Quessey was at Goldman Sachs for a period.
Remers goes to Barclays Wealth
Last week the Weekly FiX reported that Michiel Remers had left JPMorgan, where he was head of foreign exchange hedge fund sales, EMEA. We can now confirm he is off to Barclays Wealth as an investment specialist within the investment management team in London.
Brian Cordischi, head of investment management, says: “Michiel brings extensive capital markets experience and core foreign exchange skills to Barclays Wealth. His experience in analysing and managing assets in a cross-border context will bring additional strength to our investment management and advisory offering.”
