The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

FX market round up: Keep on moving

There was a flurry of activity in the FX employment market in March as those market participants who got bonuses banked their cheques.

Those on the move included the very senior, such as Ben Welsh, HSBC New York’s head of FX, global markets and US rates, down to relative juniors. Welsh’s departure seemed entirely driven by his desire to take a break from the business, rather than a belief that the grass might be greener elsewhere. The bank also lost Claus Skrumsager as its head of corporate sales in London for a destination as yet unknown.

Bank of America seemingly hit the headlines after 10 of its staff resigned in a week. However, the attrition rate was described as no more than normal for this time of year and sources at the bank implied that as many replacements were either already in place or soon on their way in. Departures included Alain Delelis, who until earlier this year had been the bank’s head of EMEA FX. Delelis was rumoured to be headed for Credit Suisse, although neither institution would confirm this. Meanwhile, Credit Suisse hired Gordon Wallace, once of Deutsche Bank and then of hedge fund Citadel, to head up its global FX options business.

Dresdner Kleinwort also made a senior appointment in options, hiring Ira Koyner to lead its New York team.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?