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FOREIGN EXCHANGE

FX people moves: You nick mine, I’ll nick yours: Merrill Lynch and Deutsche Bank

Neelkanth Parekh, Paula Mellinger

Merrill Lynch has retaliated after Deutsche Bank poached three senior exotic options traders last month, by enticing Neelkanth Parekh, head of FX structuring in Singapore, to join it. Though not confirmed, it is expected that Parekh will emerge at Merrill’s Singapore branch with three of his juniors. Meanwhile in New York, Paula Mellinger has left her role in corporate FX sales with Deutsche. It is not known where she will resurface.

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