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Foreign Exchange

Can anyone topple Deutsche in FX?

When Zar Amrolia, now managing director of global finance and foreign exchange, first walked on to the then Deutsche Morgan Grenfell’s foreign exchange sales and trading floor in 1995, he wasn’t entirely sure that he had made the right career move.

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Amrolia had earned his spurs at Credit Suisse Financial Products, then the acknowledged market leader in the derivatives business. Amrolia had persuaded his team at CSFP to take the leap to Deutsche with him, where he was tasked with building a global FX options sales business.

There were 17 sales people on the floor. Amrolia wanted to get to work right away. But something was missing. "Where are all the computers?" he asked. "The only computer we have is over there," came the reply.

Amrolia took a deep breath and got to work with his colleagues. He had been sold a vision of the future by then head of FX at DMG Michael deSa, a 17-year veteran of perennial market leader Citibank who had joined Deutsche just a year earlier.

Amrolia ordered computers for the entire team. The floor’s air conditioning system could not cope with the heat the terminals generated, and the team had to work through 104 degree sweat shop temperatures in shorts and T-shirts until the problem was fixed.

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