BNP Paribas hires FX sales head from Nomura

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BNP Paribas has appointed a former Nomura and Deutsche Bank veteran to head FX banks sales in North America, the French bank confirms.

New York-based Jake Rue will also take on the role of head of eFX-distribution in North America for BNP and will report to George Nunn, head of FX and emerging market sales for the region. Rue joins BNP from Nomura, where he worked from 2009. Before that, Rue had long stints at Deutsche Bank, where he worked on FX bank and structured product sales between 1999 and 2009, and Bankers Trust, where he moved from the middle office to become a an FX forward trader between 1990 and 1999. BNP Paribas slipped from 12th to 20th position with banks in North America, according to this year’s Euromoney FX survey, with its market share falling from 1.3% to 0.56%.