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Foreign Exchange

FX people moves: Commerz loses head of derivatives

Sal Rubino has left Commerzbank where he was global head of FX derivatives based in London. Rubino joined Commerz earlier this year when Peter Billington moved up to become global head of FX trading.

Quite what went wrong is not known, Commerz wouldn’t comment when we got in touch. Someone we know speculated that the MIT alumnus might have been frustrated by the German bank’s rigid adherence to its “client-centric” strategy and focus on the mittelstand. But whatever Rubino’s reasons he’s no longer at Commerz. Sources say the options flow business will now be managed by Tom de Meo, located in New York, while exotic FX derivatives will fall to Michael Csorba in London.

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