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Foreign Exchange

National Australia Bank appoints FX strategy chief

National Australia Bank has appointed a former BNP Paribas strategy head as its co-head of FX strategy.

Ray Attrill has joined NAB in Sydney and will work alongside Nick Parsons, NAB’s London-based co-head of FX strategy. The appointment underscores NAB’s commitment to AUD and NZD trading.

Interest in trading AUD in particular has surged, thanks to the currency’s role as a proxy for China’s RMB as well as Australia’s relatively robust economic performance. AUD is now the third most traded currency globally.

Australian FX banks have also prospered.

In this year’s Euromoney FX Survey, NAB rose from 48th to 39th position. It was the most improved performer with corporates, with volumes rising 166.65%, and also with real money accounts, with which it increased volumes by 187.76%.

Before joining NAB, Attrill worked in New York, as a senior FX strategist covering G10 currencies, joining the company in March 2011.

Prior to that, he was global research director for 4CAST, a leading independent macroeconomic, currency and interest rate advisory firm.

Attrill, who helped found 4CAST in 1995, was based in Australia between 2005 and early 2011 overseeing the company’s Asia-Pacific operations in Sydney and Singapore.

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