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Foreign Exchange

FX people moves: RBS loses EMEA institutional sales chief

Sources report that Enrico Casini has left Royal Bank of Scotland. Casini, according to his Linkedin profile, was “in charge of institutional sales for all FX and FX derivatives products into Europe, Middle East and Africa plus central banks globally” and that his “managerial duties are supported by strong producing skills (individual P/L of $25 million pa)”. A profit (and I assume he means profit when he says P/L) of $25 million is quite impressive – unless you are one of his clients.

Casini was a long-term RBS employee, having joined NatWest as head of European FX sales in 1997 from Nationsbank. It is not known where he is headed.

RBS has leaked some high-profile staff over the past few months, most recently Chris Fleming, head of EMEA flow sales and Steve Ashley, head of rates trading (FX news: RBS goes for quick FICCS). Both subsequently joined Nomura in London and Tokyo respectively.

On the subject of Nomura, we conjectured that the Japanese bank might be the destination of Barclays’ ex-head of EMEA institutional FX sales, Richard Longmore (FX people moves: Barclays Capital reshuffles as Longmore departs – but where to?).

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