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Foreign Exchange

BNP Paribas expands New York FX presence

BNP Paribas has announced two more additions to its New York FX operation.

Julia Sands joins the institutional investor sales team from Morgan Stanley, where she worked for 25 years, most recently as a managing director in EM FX sales. Sands reports to Debra Solomon and Sue Evans, co-heads of FX institutional investor sales at BNP.

In addition, Vassili Serebriakov has been appointed to the FX strategy team at the French bank. He joins from Wells Fargo, where worked as a currency strategist from May 2008. Before that, Serebriakov was a senior analyst at economic consultancy 4Cast.

Last week, EuromoneyFXNews reported that BNP had hired Andy DePhillips from Credit Suisse to cover institutional FX sales in New York.

George Nunn, head of FX and EM sales, North America at BNP says the three hires support the bank’s strategy to expand its overall fixed-income flow capabilities.

“These additions are in line with our growth plans for BNP Paribas’ US foreign exchange group, and will help us achieve our goal of being a leading global FX provider with our target institutional client base,” he says.

In North America, BNP Paribas slipped two places to 12th, with a market share of 3.07%, in this year’s Euromoney FX survey.

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