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Foreign Exchange

MF Global names Kemp as new FX chief

US broker-dealer MF Global has named veteran FX trader James Kemp as its global head of foreign exchange. His appointment is effective immediately, the firm said in a statement.

His brief will be to help the broker integrate its sales and distribution networks, as well as expand its capital market product offering. The firm has undergone some radical changes since former Goldman Sachs CEO, Jon Corzine, took the helm last year. Corzine succeeded former Chicago Board of Trade chief Bernie Dan.

The move is part of Corzine’s stated ambition of re-focusing the firm to provide more investment banking services. The FX and futures divisions will move closer together, as increasing client demand from the US sees more firms trading both FX and their derivatives on behalf of customers.

Kemp joins from Cogence Capital, a quantitative foreign exchange trading, where he was co-founding partner. Before that, he was an MD with multi-strategy hedge fund Tribeca Global Management, where he was responsible for the fund’s macro foreign exchange and fixed income businesses.

Kemp began his career at Citi in 1983, rising to become global head of spot trading and head of foreign exchange for North America.

“I’m confident that James’ extensive foreign exchange experience will drive our strategy to increase the firm’s presence in this market and provide greater value for our clients and shareholders,” said Richard Moore, MF Global’s managing director for Europe, in statement.

MF Global’s James Kemp should not be confused with Afme’s James Kemp, who remains London-based head of the global foreign exchange division.

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