Press Release
Standard Chartered Strengthens E-Commerce position in FX with newly created role
26 August 2008, Singapore - Standard Chartered Bank today announced Todd McDonald as Global Head of FX Electronic Pricing and Trading (FX EPT)
Region: Greater China and Japan, Middle East & Pakistan, Korea, South East Asia, India and South Asia, Americas, Europe, Africa Published by:
Hsueh Mei TAN
Date:
26 August 2008
e-Business
This newly created position will enable better alignment of trading, sales and technology to deliver a world class offering with the ultimate aim of reinforcing the Bank’s standing in core currencies.
The newly created position will overlook two main trading functions:
- Delivering consistent and aggressive 24-hour pricing of the Bank’s full currency offering through a global e-Trading team based in the dealing hubs of Singapore, London/DIFC and New York. The e-Trading team will work closely with the existing FX spot, forward and NDF trading teams to manage risk delivered via the e-channels.
- Creating an Auto Trading group to deliver next-generation rules-based pricing and trading strategies with the focus to be in the forefront of the field of algorithmic trading for Emerging Market currencies.
“Standard Chartered’s New York dealing room has experienced rapid growth in revenue and productivity under Todd’s leadership. This new global role will benefit from Todd’s familiarity with our key markets and vast experience gained over the years,” said Richard Leighton, Global Head of FX.
Todd has been with the Bank for nine years and was previously FX Trading Head, Americas. He is now based in Singapore.
Keith Underwood who holds the position of Head FX trading, UK and Europe has relocated to New York to take up Todd’s position. Keith will be working closely with the existing trading team to support this continued development in a centre which is vital to the Bank’s global FX franchise.
For further information please contact:
Tan Hsueh Mei
Senior Corporate Affairs Manager, Wholesale Banking, Singapore
Tel: +65 6725 7729
E-mail: Tan.Hsueh-Mei@standardchartered.com
Or
Corina Blum-Evans
Senior Corporate Affairs Manager, Wholesale Banking, London
Tel: +44 20 7885 7261 or Mobile: +44 78 8169 4437
E-mail: Corina.Blum-Evans@standardchartered.com
Note to editors:
About Standard Chartered
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world’s most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,750 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs 75,000 people, nearly half of who are women. The Group’s employees are of 115 nationalities, of which 60 are represented among senior management.
For more information, please visit: www.standardchartered.com
About Financial Markets
Financial Markets at Standard Chartered is a globally integrated business spanning Asia, Africa, the Middle East, the UK and US. Financial Markets includes trading functions such as equities, commodities, fixed income trading (rates, foreign exchange and credit) an integrated sales platform, our capital markets business
and structured products. Our capital markets business, comprising Fixed Income, Asset Securitisation and Loan Syndications, consistently dominates league tables and rankings in markets core to our footprint. Currently in league tables we are the market leader in local currency bond issues in Asia-ex Japan and third in loan syndications in Asia ex-Japan. We have a particular competitive advantage in Islamic financing and cross border issuance capabilities. We have top competitive positions in currency derivatives (1st) and interest rate derivatives (3rd) (source: Asia Risk End User Survey 2008). We are a major participant in the global rates and FX markets, actively trading in over 100 onshore and offshore currencies. We are a market leader in the provision of emerging markets liquidity and have pioneered the development of new FX Options markets and products.
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