Chase Hires First Chicago's Stambaugh To Head New Effort In FX Options Sales

BANKS

Chase Manhattan Bank is continuing its expansion in currency options--begun by its agreement with Susquehanna earlier this year--with a push in options sales. Chase has hired Fred Stambaugh, head of FX options sales at First Chicago in London, to be its new global director of FX options sales and marketing, bank officials confirm.

The position is a new one for Chase, says options chief Alan Hicks. "It's part of the globalization process in currency options for us," he says. "Sales and marketi