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Royal Bank of Canada has been carrying out a bit of a reorganisation of its FX business. Ed Monaghan is due to relocate to London from Toronto as global head of FX trading, where he will be joined at some point in August by Mark Gibson and Rein de Gier, who are coming over from Sydney/ Gibson will be global head of non-CAD FX spot trading, and de Gier will head up non-CAD option trading. Meanwhile, Wayne Baker will head up global CAD FX Spot trading and Patric Booth will head up Global CAD and CAD crosses FX Options. Both will be based in Toronto. RBC also recently employed Stan de Groot for its team in Sydney, where he will be head of Asia FX Options. De Groot previously worked at ABN AMRO.

Chris Smith has joined Deutsche Bank in London as director, FX investor sales in London. Smith, who joins from Citi, reports to Chris Hansen head of FX investor sales for Europe.

When Deutsche talks, market participants and observers listen.

As Lars Seier Christensen, joint chief executive of Saxo, is fond of telling me, I’m slipping up. In the past, I have frequently called him to ask about some deal I’ve heard about through the grapevine. But recently, Saxo has announced initiative after initiative of which I have had no inkling.

Saxo opens in Japan

It was off to the ACI UK’s summer party last night. It was an excellent evening. The party was well attended and most of the guests were in good spirits. However, there was a bit of muttering about what had gone on in the earlier trading session, when European Central Bank President Jean-Claude Trichet came out and showed his almost Germanic anti-inflationary credentials. Cue a sudden reversal of the euro and the unwinding of all of Fed chairman jawboning from the day before. He might as well have finished his speech by saying: “Buy euros now, wear diamonds later. How you left Ben?”

Well-placed market sources say that Steve Walker has left MF Global, where he worked as a prop trader in London, to join Société Généralé’s spot desk.

Rudy Alexis resigned this week from Bank of America, where he had recently been promoted to head of FX sales Europe. He is believed to be taking the short walk through Canary Wharf to Barclays, where he will have a role of similar seniority.

After 150 years of unbroken history in both China and India, Standard Chartered has decided to take a new step into uncharted territory by opening a branch in Paris. The bank says that around 10% of its European client revenue stems from French corporates and financial institutions and it believes the new branch will help French firms looking to capitalise on huge investment flows the banks see between its key markets in Asia, Africa and the Middle East.

Noel Singh resigned this week from FXMarketSpace (FXMS), where he was a vice president, sales, in London. Singh is a passionate character, and he was always swift to defend his company and its prospects. Sources say he is off to Integral.

Justin Low has moved from Barclays Singapore to UBS, where he will work on the spot desk.

People moves: New spot for Low