News that Tom Gillie had left his role at Credit Suisse in Singapore, supposedly to head back to Canada, has prompted several readers to call in. Most of them have, as is normal, told me that the reason why Gillie left has nothing to do with a lack of recognition at Credit Suisse, but everything to do with the lure of a bigger role. The buzz is that he is joining Bank of America/Merrill Lynch in a global position.
It’s been an open secret in FX for some time that the bank was about to start rolling the dice again and try and establish a stable business; as it has shown several times in the past, that normally involves a slash & burn of its current FX management and a new approach, which generally lasts for a couple of years, when the process begins again. A spokesman for BoA/Merrill declined to comment and there was no word back from Gillie either. If the rumour proves true, which seems odds on, Gillie will no doubt be thankful for the opportunity he has had to get some serious rest and recreation in before he starts his new job.