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Foreign Exchange

SocGén restructures FX division

Société Générale has reorganized its global markets business by merging four separate units into one business called fixed income and currencies (FIC), which sees several of its corporate FX salespeople being promoted to senior roles under the new structure.

The FIC group brings together the old fixed income and currencies business, the Treasury department, and interest rate and FX derivatives, and is effective from April 2, the French bank says. The FX division within the FIC group will be now run by Gian-Luca Fetta, who had held the position of global co-head of equity flow since 2009, and has an extensive background in equity volatility products during his 14 years with SocGén.

He will report to Danielle Sindzingre, who has been appointed head of the FIC division, another SG veteran of 15 years, who had run the treasury and repo business at the bank since 2008. This appointment effectively replaces the position left vacant by the departure of David Knott, co-global head of flow fixed income and currencies, who left the bank in January.

To run the combined FX sales teams, which were previously split between global finance (GLFI) – effectively corporate FX sales – and the financial institutional sales (FIC), the bank appointed Didier Latouche, as head of financial institution and corporate FX sales. He had previously run sales for the GLFI group. The financial institutions sales role had previously been run by Mike Burton, who also left the bank in January.

Latouche will report to Fetta in addition to Albert Loo and Pascale Moreau, global co-heads of fixed income and currency sales, who had previously run the interest rate and FX derivatives corporate sales business globally.

In the US, Anna Faustini, previously head of corporate sales, has been promoted to head of FX sales for the Americas, while Mark Landis remains head of sales for the Americas.

Meanwhile, in Asia, Sylvain Cartier has been appointed head of FIC for the region, focusing on trading activities, while sales will continue to be run by Yann Garnier.

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