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Foreign Exchange

UniCredit’s global head of FX sales departs

The global head of foreign exchange sales at UniCredit, has left the firm, according to two sources familiar with the situation.

Steve Turner spent more than six years at UniCredit, joining the bank in 2005 as global head of hedge fund sales and later European head of FX sales. Turner had run the bank’s global FX sales business since 2009.

The move comes three months after the departure of the bank’s global head of FX, Nick Crawford, who will join Commerzbank as global head of FX trading in January.

Meanwhile, Guy Laffineur, who originally took over as interim head of FX, has now taken over full-time, and Bernd Broeker, who initially joined UniCredit from Nomura as an external consultant, has been made deputy head of the bank’s FX business.

In this year’s Euromoney FX survey, UniCredit improved its standing in the FX markets, rising six places to 20th with a market share of 0.56%. It outperformed in the non-market making bank sector, registering a 183% year-on-year increase and rising from 24th to 15th place, making it the most improved bank in the client sector.

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