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Foreign Exchange

CIBC hires RBS options trader

The Canadian Imperial Bank of Commerce has hired Pauric Fallon, a former FX options trader at Royal Bank of Scotland, Fallon has confirmed with EuromoneyFXNews.

Fallon, joined CIBC last week where he will run the London currency options desk and will report to Chris Dunning, global head of FX derivatives. Fallon, like his former colleague Nick Gentle, spent over a decade at RBS as a currency options trader before leaving the bank in September.

CIBC was ranked 39th in the 2011 Euromoney FX survey, up 11 places from the previous year with a market share of 0.16%.

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