Trading places - August 2006

REVIEW OF THE YEAR

Eley departs Hotspot

John Eley, president and chief executive officer of electronic communications network Hotspot FX, left the company in a surprise move. A new interim management team was revealed with Robert Fleshler, managing director and global head of sales at Knight Capital and Steven Reich, chief operating officer.

Several top banks also changed senior management in August. Deutsche took Alex Scarsini as a director and head of FX hedge fund sales, from Merrill Lynch in New York. While

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