People moves: HSBC appoints head of eRisk
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Foreign Exchange

People moves: HSBC appoints head of eRisk

HSBC, which has clearly stated its desire to be a top three player in FX, is now taking steps to update its ecommerce offering.

To that end, it has appointed Richard Anthony to the new role of head of e-risk of FX and metals. Anthony, who will start in January, was previously global head of e-FICC at Dresdner Kleinwort.

In an internal memo sent to staff yesterday afternoon, Freddy Boillereau, HSBC’s global head of FX and metals, said: “Richard will ensure the efficient management of the global FX e-flow, including the electronic pricing of FX and effective management of risk across all FX e-distribution channels.”

Boillereau added: “He will be responsible for setting our pricing and risk management strategy in partnership with trading, sales and e-distribution in order to increase our market presence in the electronic flow business. The growth of our e-commerce business and delivering a best-in-class online offering for our FX and metals products across HSBC’s network is a key strategic objective for us in servicing our clients and for our FX prime services business.”

It is interesting to note that HSBC is starting to talk about its prime services business, which given its balance sheet it should be well positioned to build on. According to the memo, the bank is also poised to appoint a head of e-distribution, “to help us build market share in this important growth area”.

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