The New York FX Committee will appoint Jeff Feig, global head of G10 FX at Citi, as its chairman when Richie Mahoney, the current occupant, steps down in early 2010. Mahoney, head of BNY Mellon's global markets and capital markets group, is one of the most loyal people I have come across in the FX market. He has served on the committee since 1994, so Feig has a lot to live up to. I'm sure he will be up to the task.