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Foreign Exchange

TD Securities boosts US FX division; hires two from Morgan Stanley

TD Securities, the investment banking arm of Toronto Dominion Bank, has hired two people from Morgan Stanley to strengthen its US institutional FX business.

TD has appointed Glenn Juhlin, former head of real money sales at Morgan Stanley, and Paul Aston, who was head of global quantitative solutions and strategies. Juhlin will run TD’s 10-strong US institutional sales and trading team in New York. He had been at Morgan Stanley since 2009, having joined from Royal Bank of Scotland. Previously he held positions at Dutch banks ABN Amro and Rabobank.

Aston has been appointed into TD’s FX structuring division, also in New York. He left Morgan Stanley last month.

While there he was involved in developing Morgan Stanley Fix, the bank’s OTC algorithmic trading product launched a year ago, which provides institutional clients with flow-weighted average pricing in currencies.

Juhlin and Aston were unavailable for comment.

In Euromoney’s 2011 FX Survey, TD climbed six places to number 30, with a market share of 0.28%. The bank will be looking to rise even higher in the 2012 survey. To help that push, TD hired Steve Smith in March last year from Crédit Agricole to run FX institutional sales based in London.

Smith reports to Mark August, the bank’s head of European FX sales.


 
 Source: Euromoney Market Data
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