Here's our weekly rundown of the latest people moves and product
launches:
PEOPLE:
- Retail broker Oanda Corp. has appointed Rajesh Yohannan as
Asia Pacific managing director and chief executive officer. In a
statement, Oanda said Mr. Yohannan joins from Citibank, where he
was managing director and global mobile banking head. Mr Yohannan
was also Regional eBusiness and Direct Banking Head for Asia
Pacific at the U.S. bank.
- Rogge Global Partners, a fixed-income asset manager with $52
billion under management, has named Dr. Michael Ganske as head of
emerging markets. Mr. Ganske was previously divisional head of
emerging market research at Commerzbank, responsible for both
sovereign and credit strategies.
INDUSTRY:
HSBC Holdings PLC and Royal Bank of Scotland Group PLC reported
first-quarter results in the past week, while currency trading
systems reported their April volumes and financial publisher
Euromoney Institutional Investor PLC, announced the results of its
closely-watched FX survey.
- HSBC--the world's fifth largest FX dealing bank-said revenue
from its foreign-exchange division totalled $871 million in the
first quarter of 2013, up 17% from the previous quarter but down 9%
from the first quarter of 2012.
- Royal Bank of Scotland--the world's seventh largest FX dealing
bank--said revenue from its foreign-exchange division totalled 192
million pounds ($299 million) in the first-quarter of 2013, up
almost 18% from the fourth-quarter, as greater volatility drove an
increase in volumes. Compared with the first quarter of 2012,
foreign-exchange revenue was down 22% as "currencies continued to
suffer from margin compression and subdued volumes in a competitive
and diversified market," the 81%-government-owned bank said.
- Currency trading volumes handled by ICAP PLC (IAP.LN)-owned
EBS averaged $128.3 billion a day in April, 7% higher than the
previous month. EBS--which handles flows from the biggest banks in
the business--also saw a 17% rise in April from a year earlier when
the daily average was $109.7 billion.
- CME, the parent company of the Chicago Mercantile Exchange,
said that its foreign-exchange volumes averaged 898,000 contracts a
day in April, up 18% from the corresponding period last year, but
down 18% from March when the daily average was 1.1 million
contracts.
- Currency trading volumes on Thomson Reuters Corp's (TRI) main
FX spot trading services averaged $130 billion a day in April, down
slightly from March's $131 billion, but unchanged from April 2012.
FXall, the currency trading platform acquired by Thomson Reuters
last year, reported average daily currency volumes of $108 billion.
That was down from $110 billion in March but up on April 2012's $89
billion.
- For the ninth straight year, Deutsche Bank AG (DB) was named
the world's biggest currency-dealing bank, snagging 15.18% of total
market share, according to the Euromoney poll. Citigroup Inc (C),
which came in second, tightened its grip with a share of 14.9%, up
from 12.26% last year. The top 10 list is barely changed from 2012,
but Bank of America Merrill Lynch replaced Goldman Sachs at number
10.
(Katie Martin and Jessica Mead in London contributed to this
item.)
Write to Clare Connaghan at clare.connaghan@dowjones.com