BNY Mellon Appoints John Velis as FX and Macro Strategist

BNY Mellon, a US worldwide banking and financial services company, announced on Thursday that it has appointed John Velis as FX and Macro Strategist for the Americas.

Velis is the latest in the Wall Street bank’s hiring spree for its Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term division and another significant addition to its global strategy team. In this new position, Velis will share his insights through market commentary. This will be distributed to the bank’s clients and through the media.

Velis will be based in New York while working for the bank. He will report to Simon Derrick who is the Chief Currency Strategist.

Velis brings his extensive experience in the finance industry, with a focus on investment strategies. He joins the US bank from State Street Global Markets, the investment management unit of State Street Corporation.

At State Street, Velis worked in Multi-Asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term strategy. Here he helped run a Macro Research function. This function applied internal data on investor behavior, market-risk modeling and real-time inflation analysis to the firm’s client base.

Before working at State Street, Velis worked at Vanguard Asset Management. During his time working for the company, Velis was based in London. While in London he also worked for Russell Investments and ABN AMRO.

BNY Mellon continues its hiring spree

Velis is the third hire this month for the New York-based bank. Only this week, Finance Magnates reported on Monday that forex veteran Harry Moumdjian was appointed as the Global Head of forex sales for the company.

Moumdjian joined the company from Morgan Stanley, ending an eight-year tenure. Most recently, he was the head of the firm’s DeltaFX and e-FX sales functions. His extensive experience also expands across fixed income, currencies and commodities desks. He has worked at several top-tier banks including Citibank and Nordea Markets (Formerly Christiania Bank).

The appointment of Moumdjian echoes the shift in focus of the firm towards forex services. This saw Matthew Berson being appointed as the head of its FX prime brokerage business earlier this month. Berson has held numerous senior roles within the clearing space.