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Foreign Exchange

Westpac appoints ex-HSBC director for institutional FX sales

Westpac Banking Corp has hired Dean Heiden for its FX institutional sales team in London, a company spokesperson has confirmed.

Heiden will take up his position at Westpac on March 28 and will report to Janet Dawson, head of the institutional FX sales desk for the UK and Europe. Heiden left HSBC in November after the bank announced a series of job cuts in its FX division in London and New York.

Westpac, Australia’s second-largest bank by assets, ranked 19th in Euromoney’s 2011 FX survey with real-money clients, registering a market share of 1.46%. Although its market position fell two places from 2010, the bank’s client volumes grew 35% year-on-year, according to Euromoney Market data.

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