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Foreign Exchange

FX people moves: Independence day for Walsh

Mike Walsh, who resigned from ABN Amro in March to go to Dresdner Kleinwort as global head of hedge fund sales, has quit the bank after little more than a week in his new job.

Dresdner declined to comment, but market sources say that Walsh started at the bank after his three month gardening leave on June 26. He apparently resigned on July 4.

Understandably, Dresdner is not happy and it is rumoured that Walsh will have to work his notice somehow – perhaps he can fill plastic bags with money or get the sandwiches in. The conspiracy theorists say Walsh’s next destination is Royal Bank of Scotland, which is not able to hire staff directly from ABN at the moment because of the takeover battle that is taking place. RBS says it does not comment on market speculation.

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