Healey joins Lloyds TSB in e-FX

LONDON - Lloyds TSB Corporate Markets has created a new head of electronic product management role to help boost its electronic foreign exchange offering.

The bank confirmed Jon Healey will join in London at the start of September and will work alongside the bank's trading team to construct a new FX rates engine. He will also have responsibility for developing a new e-portal for the bank, which will enhance clients' ability to manage risk, the bank said.

Healey will report to Clare Francis, head of sales and derivatives structuring at Lloyds in London. "Jon brings a wealth of experience in e-commerce, and specifically in FX and money markets, which will be invaluable in the development of our e-trading products," Francis said.

Healey was most recently at HSBC in London, where he was head of e-FX for Europe, the Middle East and Africa. In his 12 years at HSBC he helped develop the bank's electronic platform from scratch.

Healey's appointment continues the bank's restructuring of its senior management team following its merger with HBoS. Market sources say the bank is looking to hire a head of FX sales to complete the forex team. Currently, FX sales to corporates and institutions are overseen by Colin Devo and Ted Holloway, respectively (FX Week, June 15).