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The world of FX is full of contradictions and even though last month saw several platforms recording record days, it was also not uncommon to hear that liquidity had dried up. Here's Lee Oliver's view of what's really going on.

For several months I’ve been receiving emails from contacts asking me to join their network on LinkedIn. Perhaps it’s a sign of age, but I really didn’t see the point.

Long-term ABN Amro employee Jerome Cohen has left the bank to join Standard Chartered.

A systems failure means the system must change. Consider how, and follow through the logic of the housing bubble busting, the credit squeeze and the carry trade.

He can hardly have sat down, but it seems Peter Snasdell is off again, and this time he may even be crossing the big pond – employer-wise anyway. He started at BNP Paribas at the beginning of June on the London FX sales team [see Weekly FiX, June 22, BNP hires in London, reorganises in Paris], but this week he left the French bank. Before BNP, Snasdell was at Dutch bank ABN Amro, where he worked in its hedge fund/institutional sales team. There was no comment from BNP Paribas on the reason for this departure. Rumours have it that he is going to the Royal Bank of Canada.

Investec Bank (Channel Islands) has added to its existing treasury team with the appointment of David Douglas. Working with Greg Ahne, David will provide pricing and market knowledge to Investec’s clients. He joins Investec from Anglo Irish Bank Corporation, where he was a manager in the corporate treasury sales division. Prior to Anglo Irish, David held positions at HBOS, Bank of Scotland and Newton Investment Managers. Mort Mirghavameddin, managing director at Investec, said: “We are delighted that David has agreed to join our treasury team. He brings with him a rich history of experience and will play an important role in supporting the continued growth of Investec’s treasury and corporate markets team in the Channel Islands.”

Dropdowns:

Despite growing volumes of ABS derivative trading in the US, repeated attempts to introduce index derivative products to more effectively express nuanced views on ABS credit spreads in Europe have had mixed results.

An integrated approach to real estate has kept the bank at the top of the market for 38 years. Laurence Neville reports.

National Bank of Kuwait is a leading force in raising capital using Shariah-compliant instruments for property development in its domestic market and in the region. Nigel Dudley reports.

ING Real Estate Investment Management makes a point of co-investing with its clients in its funds, particularly in those appealing to value-added and opportunistic investors, an area it is developing. Laurence Neville reports.