Abaxbank builds FX derivatives in Milan


MILAN -- Italy’s Abaxbank is looking to build its FX derivatives business this year through the hire of additional staff at its centre in Milan, Francois Semerdjian, head of the bank’s corporate division, told FX Week.

The bank has already hired 10 FX and short-term interest rate dealers this year, and currently employs around 14 FX trading and sales staff in Milan. The addition of two FX derivatives dealers this year should also boost its business with existing clients, said Semerdjian.