Weekly FiX: Dazed and confused
HVB embarks on hiring spree
HVB – part of the UniCredit markets and investment bank – has embarked on a hiring spree to beef up its FX sales force. New recruits include Paul McErlain, who joins from hedge fund BlueCrest; Russell Thomas, who joins from NAB London; Malcolm Keys, who has come from Calyon Hong Kong; and Guenter Grimm, who recently left JPMorgan and will start on Monday.
McErlain will run hedge fund sales in New York, while Thomas and Keys will be based in London and Hong Kong respectively. Grimm will manage real money accounts for Europe. All four report to Steve Turner, the banks global head of hedge fund sales, and Kenan Altunis, global head of FX distribution. Market sources suggest that more appointments are likely as HVB beefs up its FX operations.
HSBC loses two but gain one
HSBC has seen a couple of senior sales people leave this week. Claus Skrumsager, who was head of corporate sales, is rumoured to have departed. As yet, his destination is unknown. Paul Absalom, head of hedge fund and central bank sales, left HSBC Hong Kong on Monday.