SBC Bolsters New York Forex Presence With Key Hires And Reshaped Strategy

BANKS

With the recent additions of two senior traders and a slight restructuring in New York, Swiss Bank Corporation (SBC) officials say the bank has solidified a strategic plan and claim to be in a position to increase its currency range.

The bank hired John Riesmeier and Michael Velardi as senior traders in the core market-making division (FXW, April 3). Riesmeier was formerly at Morgan Guaranty while Velardi worked at Lloyds Bank.

Meanwhile, SBC shifted Jay Greenberg over to run its Daylight Over