Northern Trust has appointed a head of local markets to its global foreign exchange team as it looks to bolster product, operational and execution expertise in currency trading.
The company said that Paul Fyda has joined in New York, working with its FX trading desks in the Americas, Europe, the Middle East and Asia Pacific regions. He will provide support and guidance to in emerging markets to Northern Trust’s institutional investor clients globally.
Fyda has 20 years’ experience working in the FX industry, most recently at Brown Brothers Harriman where he focused on emerging market currencies and products. Prior to that, Fyda worked at Sungard and Mellon Bank in FX product and client services roles.
“Paul will work extensively with our institutional clients providing them with insights and expertise in understanding how their investment decisions may be impacted by currency trading restrictions and regulations,” John Turney, head of global foreign exchange at Northern Trust, commented.
In December, Northern Trust confirmed that it had agreed to acquire FX algorithmic trading and liquidity aggregator provider BEx, after entering into a partnership with the company in 2016 to develop trading software for Northern Trust’s FX trading platform.
Turney said at the time that Northern Trust has built an FX offering that allows clients to benefit from automated trade execution, and ownership of BEx will strengthen the company’s ability to bring new products to market quickly.
“I am excited to join such a globally respected FX franchise and look forward to expanding our capabilities in these markets while working closely with Northern Trust’s growing and diverse base of clients,” Fyda concluded.