JP Morgan and Goldman Sachs have made senior management changes to their foreign exchange divisions that will come into effect early next year.JP Morgan is introducing a new reporting structure for forex in London ahead of the departure of Adam Burke, London-based head of currencies and commodities for Europe. Troy Rohrbaugh, head of global forex options and head of forex trading in London, Brian Tomeo, head of sales in London, and Jamie Bonic, head of the custody business, will all report to Rob Lichten, New York-based global head of forex. The change in reporting will come into effect at the end of January when Burke leaves to take an eight-month sabbatical.
Lichten said that JP Morgan had a record year in forex in London and New York: "Everything is heading in the right direction for us," he said. He added that Burke had been planning the sabbatical for some time, and will not be replaced.
Meanwhile, Goldman Sachs is said to be merging its global forex group with rates under the New York-based head of North American rates, Ashok Varadhan. The change follows the forthcoming transfer of Bob McTamaney, co-head of global forex, from London to Tokyo. It is also understood that his counterpart, Gregg Tebbe, will retire at the end of the year. McTamaney will move to the bank's pan-Asian securities business.
More on People
Boyle replaces Yates at Citi, as Baml picks up Stolz and Lee
Chief economist moves to oil giant
UK regulator announces three appointments to expand management capacity
Spencer Dale will join oil giant in October as chief economist
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.