Wachovia hires institutional foreign exchange dealers

London-based director Nils Johnson and vice-president Duncan Frost will develop non-dollar product relationships with institutional clients across Europe, reporting to Mark Gargano, managing director and head of non-dollar products at the bank's headquarters in Charlotte, North Carolina.

Johnson was previously at Credit Agricole Indosuez in London, where he was senior credit officer. Frost was formerly an international sales specialist at Bank One in New York. They will work alongside the bank’s six institutional sales dealers in Charlotte, who trade internationally and in different time-zones.

US-based Lynn Tierney, vice-president of currency risk management at Wachovia, said the expansion would be helped by the bank’s existing distribution network.

"We’re committing resources to the institutional market by leveraging what we have. There are not that many banks who have 32 representative offices around the world. It’s fabulous to use that talent," Tierney said.

The bank is targeting financial institutions, funds, asset managers, government entities and internal institutional clients.

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 copy this content. Please contact info@risk.net to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here