Newedge, a multi-asset brokerage and clearing provider, has appointed Laurent Cunin as head of the Asia-Pacific region and Pierre Gay as head of global fixed income, currency and commodities (FICC).
Cunin, who was Newedge’s acting CEO of Americas and head of sales, Americas, will be replacing Gay as head of the Asia-Pacific region. He will be based in Hong Kong and focus on expanding and strengthening Newedge’s operations in the region.
Cunin is a member of Newedge’s executive committee, reporting directly to CEO Patrice Blanc and Nicolas Breteau, global head of sales and front office.
Gay will remain in Hong Kong for at least the first quarter of 2010 to hand over the reins to Cunin. In his new role as head of global FICC, Gay will be responsible for global product management and development, working with regional heads on FICC regional performance and reporting to Breteau.
“These appointments reinforce our intention to offer our clients a range of products which are consistent between the different geographical regions,” said Blanc in a statement. “FICC covers foreign exchange, fixed income, energy, agricultural and metals businesses and will provide a better coverage of our customer base to match our global organisation. It will also offer stronger cross selling opportunities between foreign exchange, fixed income and commodities.”
He added, “Our global product offering will have more coherence and consistency between the different regions, including Asia-Pacific, the Americas, Europe and Middle East.”
Newedge is a member of 14 derivatives exchanges in Asia-Pacific and employs more than 500 staff in the region. The broker has a local presence in Singapore, Japan, Hong Kong, Australia, Taiwan, Korea, India and China, through a two-year-old joint venture with the CITIC Group.