Citi snares Achnitz from Goldman to head German FX
Citigroup has made two hires to its foreign exchange business in Frankfurt, in a move that global forex head Richard Moore said underlines its commitment to the German market.
The most important hire is Holger Achnitz, new head of FX sales for Germany, who will start on October 1. Achnitz replaces Gerhard Jaensch, who left Citi in September last year. “We’ve hired Holger to lead the initiative, to integrate with the wider capital markets businesses there and to continue to offer top quality foreign exchange advice to our customers in Germany,” Moore said.
Achnitz was previously at Goldman Sachs in Frankfurt, where he was head of corporate liability management. He had previously managed FX sales for Goldman in Frankfurt until the bank moved the business to London in 2001. Achnitz has also previously worked for Bankers Trust and Dresdner Bank in Germany.
When Achnitz joins, Dirk Reulecke, who has filled in as acting FX sales head since Jaensch’s departure, will become head of corporate FX sales in Germany.
A third dealer, Stefanie Holtze, joined on August 1, focusing on corporate customers. Holtz, who will report to Achnitz when he starts, left JP Morgan Chase in London, where she held a risk advisory and sales role.
The move to shore-up Citigroup’s FX business in Germany comes as German rival Deutsche Bank is striving to close the earnings gap between the top two players in global FX.
Meanwhile, Citigroup has also hired a new manager for the leveraged institutional sales team in New York. Scott Silver joins later this month. Silver has held trading and sales positions in the foreign exchange, commodity and risk management areas. He was previously president of Rayner & Stonington, a hedge fund with $80 million under management. Rayner & Stonington specialises in relative-value trading in volatility as an asset class across currency, equities and commodities.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on People
People: Masters moves into FNZ, Two Sigma founders step back, and more
Latest job changes across the industry
Cardano’s Max Verheijen moves to BasisPoint
Verheijen spent 24 years at the Dutch pension advisory firm
People: SocGen’s Farah replaces Salorio, Deutsche makes credit hire, and more
Latest job changes across the industry
Coex Partners hires former Citi head of FX Apac sales
Matt Long joins Coex in Singapore to oversee FX execution and trading strategy for regional clients
Athora CFO exit caps management overhaul
Entire management team at Apollo’s European insurance affiliate has been replaced since 2022
People: New brooms at NatWest and Tradeweb; MUFG splits rates, and more
Latest job changes across the industry
Bank of America’s Kris Fador elected FS-ISAC board chair
Industry consortium for cyber security also adds new board directors from Swift, PNC, Truist and CME
People: Barclays’ macro trade reshuffle, UBS board moves, and more
Latest job changes across the industry