More FX traders for Bank One

Bank One hired two FX traders in March, continuing a build-up in spot and options trading begun earlier this year.

Frank Milnarik joins the bank in Chicago today, as head of the Asian shift for FX options. He reports to Justin Foley, Chicago-based global head of FX options.

In London, Jim Thomson joined Bank One at the beginning of March as a dollar/yen spot trader. He reports to London-based head of foreign exchange and interest rate derivatives trading Stewart Morton.

Milnarik rejoins the bank after a year trading at the Chicago Mercantile Exchange, while Thomson leaves AIG Trading in London, where he was chief spot dealer.Milnarik is the third options trader to join Bank One in Chicago in the past month, following the hires of Dan Munro and George Kapotis, who joined the bank in mid-March. It brings the FX options headcount in the centre to five.

Bank One recently set a target of hiring six forex options staff and seven FX dealers worldwide in a bid to capture more top-tier corporate clients.

Foley said the bank expects to hire two more options dealers in London in April.