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Foreign Exchange

Lloyds hires Keith Underwood as head of FX trading for the Americas

Keith Underwood has been hired by Lloyds Banking Group as head of FX trading for the Americas to be based in New York, EuromoneyFXNews can reveal.

Underwood joins Lloyds from New York-based, FX Risk Advisors, a risk management consultancy firm, where he held the position of managing director.

He has more than 25-years experience in the FX industry, having previously worked at: Morgan Stanley, Lehman Brothers, Credit Agricole, and most recently Standard Chartered. He will report to Anders Henrikson, global head of FX trading in London.

In this year’s Euromoney FX survey, Lloyds improved nine places to 38th position in the global rankings, with a market share of 0.16%. In the US, the bank also improved its market share, rising 10 places to 42, although from a low base, with a market share of 0.02%. Lloyds is seeking to grow market share by launching its e-trading platform, Arena, next month and expanding its coverage of real money accounts. In July it hired Richard Chatterton from Thomson Reuters as e-commerce product manager.

A Lloyds Bank spokesman declined to comment.

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