Sam Hewson – previously global head of digital FX solutions and EMEA head of corporate sales and solutions (CSS) – was appointed global head of FX sales, according to an internal memo seen by The TRADE. The communication, sent from global head of foreign exchange, Flavio Figueiredo, clarified that the newly created role “brings together FX corporate and financial institutions sales”. Hewson has been with Citi for 20 years, assuming the global leadership of digital FX solutions in 2018 before becoming head of EMEA CSS in 2021.
Elsewhere, Jamie Mortimore is set to re-join Citi to lead the newly formed global rates algo trading team. Mortimore previously spent six and a half years at JP Morgan, most recently as a managing director and head of the global rates automated trading team. Mortimore previously worked for Citi for almost 15 years (before departing in 2016), where he worked on building out the first iteration of the rates algo trading offering both in North America and EMEA. He will be focused on growing the global rates algo trading team in this new position and be responsible for the research, development and execution of the rates algorithmic trading strategies.
Nelius De Groot was appointed head of markets and execution services for Asia Pacific at BNY Mellon. In his new role, De Groot will be based in Singapore and focus primarily on the growth strategy and direction of the market and execution services business across the region. De Groot has three decades of experience in the capital markets and banking sectors, having worked at major global institutions across North America, Europe and APAC. He previously held senior positions at Standard Chartered Bank, Deutsche Bank, and Mporium.
UBS is planning to make significant changes within its execution services business, specifically the electronic trading area, following increased operational complexity stemming from the previously reported merger with Credit Suisse. The electronic trading responsibility is set to be split into two distinct parts, with Chris Marsh continuing to be responsible for the electronic trading product and Mark Goodman assuming the role of head of electronic trading.
Elsewhere, UBS has made several other role changes, including Srichakri Adhikarapatti, currently head of principal quant trading for FX and US cash equities, taking responsibility of the Central Risk Book (CRB), alongside joining the Execution Services Management Forum (ESMF). Zain Nizami, global head of cash equity trading, will also join ESMF as well as having oversight of CRB risk. The ESMF appointed Stuart McGuire who will be the execution services senior relationships manager, assuming responsibility for the client agenda within execution services and working directly on monetising the investments being made as a result of the merger. Elsewhere, Simon Hards, is set to continue in his role as cross asset execution for Credit Suisse Wealth, which is now part of the Execution Hub organisation, as well as joining the ESMF.