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FOREIGN EXCHANGE

People moves: Santander starts FX build up

It may have only ranked 30th in the 2009 Euromoney FX poll, but there is no doubting the potential might of Santander. The bank ranked as the seventh-largest in the world in terms of market capitalization in 2008, which only underlines its underperformance as an FX player. However, that is all apparently going to change and as part of its planned build-up Santander has hired Marco Pelizzoli, who quit Bank of America Merrill Lynch last month, to spearhead its ecommerce push. Pelizzoli will start in early November.

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