BNP Paribas Promotes Gaurav Tholia to Head of Institutional FX

The Singapore office of French investment bank BNP Paribas has just announced the promotion of Gaurav Tholia to Head of Institutional FX Sales. The news comes a bit over a year after Tholia was promoted to Head of FX Flow & Structured Sales.

Tholia has been working at the APAC office of BNP Paribas for a bit under three years. His career at the company started back in August 2016 when he started as Head of FX Flow Sales for Asia Pacific.

Over the years, Gaurav has been working at several major investment banks, including Standard Chartered, JP Morgan, Barclays, and ANZ. His promotion comes amid a challenging period of low FX Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term across the board.

Major investment banks have been reporting much lower trading volumes and profits in the first quarter of this year, as the markets have been stuck in low gear. EUR/USD volatility is close to all-time lows, as uncertainty about future policy action on the part of major central banks has cornered the market into a heavy trading range.

Challenging Market Across Asset Classes

While the FX market is stagnating, other asset classes haven’t provided enough breathing room for major banks. Trading is subdued, while investors await more outcomes from political developments across the globe.

The present high probability for the Fed to continue its pause in rate hikes is also underpinning a positive sentiment for Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term, but political uncertainty globally remains high and is keeping investors on the sidelines.

Earlier today, Goldman Sachs reported that its net income declined by a fifth, resulting in a 20 percent cut in salaries at the investment bank. Fixed income, currencies, and commodities (FICC) revenues were lower by 11 percent when compared to a year ago.

Despite the challenging time from a volatility standpoint, historically such periods are typically followed by a more lucrative market. While the present low volatility environment is clearly impacting earnings of banks and brokers, revenues should rebound back to normal as the cycle turns.