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Ins and outs at Standard Chartered in options
Standard Chartered, which has one of the best franchises in FX, has made a couple of hires as it looks to build on what the rumour mill suggests was a bumper year in 2006. First to join is Douglas Borthwick, who will be based in New York and trade Latam NDFs and options. Borthwick, who will start on Monday (December 4), was formerly at Merrill Lynch as a director in strategic trading. Elsewhere, Justin Holland joins the bank from ANZ. Holland, who was in the process of moving back to Melbourne from London, will be based in Singapore and run Stan Chart’s large commonwealth book.
...But Robbo decamps for Dresdner
Ian ‘Robbo’ Robertson has left Standard Chartered, where he was head of emerging markets options for Dresdner Kleinwort, to take up the role of head of FX trading. There is plenty of buzz about what Robertson is going to find in Dresdner’s books; the bank is said to be suffering huge time decay on a nasty position in Turkish lira. Robertson is a well-respected and much liked figure in the industry.