Trading places

Commerzbank has promoted Nozar Hussein to manage foreign exchange options in London on a temporary basis, a spokesperson told FX Week. Hussein replaces Behnouche Mostachfi, who left Commerz late last year along with one other options trader, one FX sales dealer and one spot trader (FX Week, December 16).

In addition to his new responsibilities for options, Hussein is also global head of proprietary FX. In the past nine months, Commerz has lost at least eight FX staff, including head of Europe