It is often said that foreign exchange remains a people business in spite of the surge of technology and there is no doubt that without a lot of good people, who do the right thing, this industry would be in a worse place. Today I would like to pay tribute to three people who have helped make the industry a better place, one who is stepping down from a role, one who has retired and one - tragically, who recently died.
Bill Goodbody is set to leave his position as senior vice president, head of FX, at Bats Hotspot.
A spokesperson for the company in New York, where Goodbody is based, confirms the news. There is no set date for his departure, but a transition period is planned with the broad expectation that he will officially leave the firm sometime in January 2017.
Goodbody has been working at Hotspot since before it was acquired by Bats Global Markets in March 2015, having been made a managing director at the platform in 2008 when it was owned by KCG.
Underwood FX has announced two new partnerships and a new hire in a bid to expand the expertise that the consulting firm can offer.
Barclay Leib of Sand Spring Advisors has partnered with Underwood FX to provide alternative asset consulting and securities law violation investigative intelligence.
Additionally, Jennifer Ropiak of Trusted Partner Metals has begun working collaboratively with the firm by providing experience in precious metals market structure, trading, and product development.
Underwood FX has also hired Andrew Beresin, a practicing NY State attorney that specialises in legal matters including regulatory inquiries, investigations, and enforcement defense.
Edgewater Markets has hired Imran Mahar as its new chief operating officer.
Based in the New York headquarters, Mahar will be responsible for managing the company’s day-to-day operations globally, reporting directly to Skovran Schreder, co-founder and CEO of Edgewater Markets.
Prior to joining Edgewater, Mahar spent six years with BNP Paribas New York as their director of global prime services, managing an intraday risk team covering, FX, commodities, OTC clearing and listed derivatives. Before BNP, Mahar was part of AIG Financial Products and AIG Trading as a vice president of FX sales and trading for 12 years.
RJ O’Brien (RJO) hired Daniel Staniford as executive director, responsible for the firm’s institutional business development in New York and London.
Effective today, Staniford will operate out of RJO’s New York office and travel regularly to the UK to further expand the firm’s sales capabilities in the two financial centres.
Gerald Corcoran, RJO chairman and CEO, comments: “Dan is highly respected in the industry, and he has a great track record of building enduring client relationships and recruiting talented, experienced salespeople.
Advanced Markets (AM) and Fortex have appointed Nidal Hadi as managing director of their Middle East and North Africa (MENA) operations and business development.
AM says it is a wholesale provider of liquidity, technology and credit solutions to banks and brokers, while Fortex is a financial technology company that has developed an ECN trading platform that it says facilitates $12 billion in currency, metals, energy, and CFD trades daily. Both companies are privately held. Hadi joins after spending almost three years with Swissquote, where he most recently held the position of head of institutional sales. Prior to this, he spent six years as head of institutional sales with MIG Bank.
“Sometimes right, sometimes wrong...always certain.” -CL
For those that know him, Colin’s skill is his ability to draw people out of their corporate guises, his talent is surmising what makes sense and what doesn’t across the global FX landscape, and his charm is his never- ending piss-taking, and of course, his self-effacing humour.
“We worked together at County Natwest; I was his junior on the FX desk when I was 17-years-old. Colin taught me all I know about trading FX. Something he would say to me about my trading was, ‘Think it, do it’, and I still believe in that to this day. He was my mentor for many years – such a caring, crazy person that we spent a lot of time together at work and out of work.
Stuart Crooks has left his position as head of liquidity at R5FX.
Based in London, Crooks had been with the firm for over three years. His next destination is not known at this point in time.
Prior to joining R5FX in 2013, Crooks worked as the European head of FICC e-commerce sales at RBS and was vice president, FX sales, at Flextrade. He also held FX sales trading roles at UBS.
Deutsche Bank has named Sandra Francisco as its new head of platform sales, North America – listed derivatives and markets clearing, based in New York.
Francisco took up the new role on October 7, and is responsible for developing account plans for North American clients transacting in global listed derivatives and markets clearing products.
Francisco will also be expected to develop appropriate coverage models and grow profitable market share on a global basis for One Debt, One Equity and One Markets clients in global listed derivatives and markets clearing products.
Jonas Schirm has joined Barracuda FX as senior business consultant.
Based in London, he joins from Commerzbank where he worked in FX sales for several years and reports to Fraser Devlin, global head of sales for Barracuda.