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Foreign Exchange

People moves: BNP beefs up in eFX

BNP Paribas is quite open about its ambitions to break into the upper echelons of the foreign exchange market. To achieve its goals, it will need to compete with the established leaders in its online platforms.

 

FX Poll: Top five VS BNP

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 Source: Euromoney Market Data

BNP Paribas was one of the big movers in the Euromoney poll last year, breaking into the top 10 globally with a market share of 2.26%. But it did not figure in the top 10 for e-trading.

A number of hires announced by the bank show that this effort is now in full flow:

Luke Waddington (ex-RBS and HSBC) has been appointed as Head of eCommerce for Asia and Japan, based in Tokyo.

Dan Osborne (ex- CitiFX and FXall) joins the eCommerce team in the US, based in New York.

BNP has also confirmed the hiring of Thomas Soede (ex-Lehman) as global head of eCommerce, as exclusively revealed by the weeklyFiX last month.

Thomas played a key role at Lehmen Brothers Europe before its demise, where he was responsible for the build-out of global distribution in FX and spearheaded the Electronic Distribution business.


BNP Paribas are hoping to match the success Lehman had with its eCommerce


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