Credit Suisse Adds Chris Fuligni to FX Sales Team in New York

Swiss bank Credit Suisse has onboarded Chris Fuligni from Credit Agricole to join its foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term sales in New York, per an FXWeek report.

The appointments follow a number of senior hires that Credit Suisse has made to its e-FX division in the US, signifying what the bank calls a commitment to the region and focus on building a client-focused franchise. The bank hired Dr. Günter Grimm, former executive director of FX institutional sales at fellow Swiss bank UBS, in May as a 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 strategist.

Phil Tretola and Sam Osterman also joined Credit Suisse as directors in its foreign exchange team. The hires underscore the bank’s efforts to expand its flow business and enhance its currency product coverage. The new recruits report to managing director Mahesh Sinkar, based in New York.

Prior to Credit Suisse, Fuligni worked at Crédit Agricole CIB in FX sales to build out the FX options client business, similar to the advanced FXO business done at RBS. He also launched the FX derivatives trading business at Bracebridge Capital from ground zero.

Credit Suisse sued in the US for FX rigging

With around 25 years’ experience working in the FX industry, Fuligni has also held several senior roles at major financial institutions, including managing director of FX/hybrid derivatives structuring and sales at RBS. During his eight-year tenure with the Royal Bank of Scotland, he was responsible for client pricing of all complex option products.

Mr. Fuligni is assuming his new role as the lender lines up more industry veterans at a challenging time for an FX sector, which is being ravaged by regulatory and structural change. Earlier in May, a group of investors has sued Credit Suisse, along with 15 other global banks, for allegedly rigging prices for their own benefit by sharing confidential orders and trading positions.

A New York judge overseeing the litigation narrowed the charges of rigging rates in the foreign exchange market but refused to dismiss antitrust lawsuits against Credit Suisse Group AG.