In Brief: HSBC Hires Deutsche Currency Execs

March 21, 2001, 2:00 a.m. EST 1 Min Read

Bloomberg News

NEW YORK HSBC Bank USA has hired Alain Delelis, Deutsche Bank AGs senior spot foreign exchange trader in New York, as well as five other currency traders and salespeople from Deutsche Bank.

Mr. Delelis will be responsible for all foreign exchange trading and sales and the companys emerging markets currency business, said Linda Stryker, a spokeswoman for HSBC.

Also joining HSBC from Deutsche are Gordon Wu, who will be responsible for foreign exchange trading; William Olderman, who will be responsible for spot trading; two other traders; and a salesperson, Ms. Stryker said.

This month HSBC hired David Johnson, head of foreign exchange sales at Barclays Capital, to run currency sales for financial institutions and hedge funds. HSBC Bank USAs parent, HSBC Holdings PLC of London, was ranked fifth in global currency trading market share last year by Euromoney magazine, with about 4.6% of the $1.5 trillion of foreign exchange trades daily. Deutsche Bank was ranked No. 1.

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