Deutsche in FX drive

Deutsche Bank has named Gordon Wallace and Nitin Gulabani as co-heads of global foreign exchange trading.

Wallace will remain in London, where he had been head of foreign exchange trading since 2002. Prior to this, he was head of forex trading in Tokyo for four years.

Meanwhile, Gulabani will continue in Singapore where he headed the bank’s forex team in the Asia-Pacific. He joined the bank in 1995 as a swaps trader in London, later becoming head of the foreign exchange forwards desk there. In 1998, Gulabani transferred to Singapore, becoming head of the forex team in Asia-Pacific in 2002.

Both will report to Jim Turley, global head of foreign exchange and commodities in London.

Since the beginning of the year, Deutsche has hired nine new forex sales people in London, Frankfurt, New York, Tokyo and Madrid. These include Alessandro Cummunale, who was hired from Lehman Brothers as head of forex sales for southern Europe and the Middle East, and Shinya Sasaki, previously a senior member of Goldman Sachs’ foreign exchange operations in Japan, who joined Deutsche’s corporate forex team in Tokyo at the director level.