The global investment banking, securities and investment management firm that provides a wide range of financial services, including Forex, has appointed the ex-JP Morgan Head of Foreign Exchange to run its FX Business.
A significant executive move in the foreign exchange institutional space has occurred with the benefactor being institutional banking firm Goldman Sachs, which has appointed Kayhan Mirza as Global Head of Foreign Exchange, and named him a partner of the company, Forex Magnates confirms.
Mr. Kayhan departs J.P. Morgan Chase where he was global head of Foreign Exchange options and head of FX trading in Europe most recently, and had served in a number of other roles since 1998 with JP Morgan, stationed in London - the number one ranked center responsible for the largest market share of Forex Trading volumes globally.
J.P. Morgan Loses Mirza to its Competitor Goldman Sachs
Forex Magnates' reporters spoke with a member of the company's press office, Goldman Sachs spokesperson, Michael DuVally, who commented regarding the news, "Kayhan Mirza has accepted a job at Goldman Sachs and will join the firm as a partner and global head of foreign exchange trading."
Considering the firm has a pretty sizable foreign exchange business, and appointed someone who has already held such a senior role in a similar position, makes the move a fairly important one. Forex Magnates' reporters reached out to a J.P. Morgan spokesperson who was not available for comments around time of our coverage.
FX Probe Scrutinizing Staff
The significance of this senior move is further emphasized especially in light of the recent firings and suspensions that have taken place among several major Forex dealers in the institutional space that is widely thought to be related to ongoing investigations into foreign exchange rate rigging and price manipulation.
For example, just hours ago, news broke that BNP Paribas had suspended Bob De Groot, which according to a LinkedIn profile - he is described as "Global Head of Spot trading at BNP Paribas."
In prior roles within the company, the firm's CEO and Chairman, Lloyd C. Blankfein, had management responsibility for Goldman Sachs’ Fixed Income, Currency and Commodities Division (FICC), which handles -among other key markets - the company's FX business that Mr. Mirza will now head.
Apple Executive Joins Goldman Sachs' Board
The news follows just days after the company appointed Apple CFO, Peter Oppenheimer as an independent director of the firm, expanding its board to 13 directors. Goldman's Blankfein commented in the official press release of March 3, 2014, regarding the news, “Peter’s 25 years of broad experience across important industries will add a valuable perspective to our Board of Directors,” and concluded, “We appreciate his willingness to serve as a director and look forward to benefiting from his judgment and counsel.”
The company is known for its substantial base of high net worth clients, and the commission which generates revenues, from which the firm allocates a significant portion of it back to its staff in the form of remuneration. While this traditional model of Wall Street compensation for brokers has served many firms well in terms of its sales efforts, it also brings along with it regulatory risks.
However, when revenues are high enough to overcome certain regulatory fines and costs associated with such risk and resulting violations that could ensue, then it can be looked at as just a cost of doing business, and an unavoidable result of certain salespersons or staff deviating from the rules for the sake of earning more money.
On the other side of the extreme, a firm with a too strict compliance policy or staff that does not take certain risks - could very well lose otherwise-compliant business opportunities that would have been gained if a more aggressive pursuit had been employed.
Nonetheless, this paradoxical challenge is handled differently by various companies in terms of of how the two sides are balanced, so that both regulatory history and a firm's reputation are maintained while focusing on growing revenues.
A significant executive move in the foreign exchange institutional space has occurred with the benefactor being institutional banking firm Goldman Sachs, which has appointed Kayhan Mirza as Global Head of Foreign Exchange, and named him a partner of the company, Forex Magnates confirms.
Mr. Kayhan departs J.P. Morgan Chase where he was global head of Foreign Exchange options and head of FX trading in Europe most recently, and had served in a number of other roles since 1998 with JP Morgan, stationed in London - the number one ranked center responsible for the largest market share of Forex Trading volumes globally.
J.P. Morgan Loses Mirza to its Competitor Goldman Sachs
Forex Magnates' reporters spoke with a member of the company's press office, Goldman Sachs spokesperson, Michael DuVally, who commented regarding the news, "Kayhan Mirza has accepted a job at Goldman Sachs and will join the firm as a partner and global head of foreign exchange trading."
Considering the firm has a pretty sizable foreign exchange business, and appointed someone who has already held such a senior role in a similar position, makes the move a fairly important one. Forex Magnates' reporters reached out to a J.P. Morgan spokesperson who was not available for comments around time of our coverage.
FX Probe Scrutinizing Staff
The significance of this senior move is further emphasized especially in light of the recent firings and suspensions that have taken place among several major Forex dealers in the institutional space that is widely thought to be related to ongoing investigations into foreign exchange rate rigging and price manipulation.
For example, just hours ago, news broke that BNP Paribas had suspended Bob De Groot, which according to a LinkedIn profile - he is described as "Global Head of Spot trading at BNP Paribas."
In prior roles within the company, the firm's CEO and Chairman, Lloyd C. Blankfein, had management responsibility for Goldman Sachs’ Fixed Income, Currency and Commodities Division (FICC), which handles -among other key markets - the company's FX business that Mr. Mirza will now head.
Apple Executive Joins Goldman Sachs' Board
The news follows just days after the company appointed Apple CFO, Peter Oppenheimer as an independent director of the firm, expanding its board to 13 directors. Goldman's Blankfein commented in the official press release of March 3, 2014, regarding the news, “Peter’s 25 years of broad experience across important industries will add a valuable perspective to our Board of Directors,” and concluded, “We appreciate his willingness to serve as a director and look forward to benefiting from his judgment and counsel.”
The company is known for its substantial base of high net worth clients, and the commission which generates revenues, from which the firm allocates a significant portion of it back to its staff in the form of remuneration. While this traditional model of Wall Street compensation for brokers has served many firms well in terms of its sales efforts, it also brings along with it regulatory risks.
However, when revenues are high enough to overcome certain regulatory fines and costs associated with such risk and resulting violations that could ensue, then it can be looked at as just a cost of doing business, and an unavoidable result of certain salespersons or staff deviating from the rules for the sake of earning more money.
On the other side of the extreme, a firm with a too strict compliance policy or staff that does not take certain risks - could very well lose otherwise-compliant business opportunities that would have been gained if a more aggressive pursuit had been employed.
Nonetheless, this paradoxical challenge is handled differently by various companies in terms of of how the two sides are balanced, so that both regulatory history and a firm's reputation are maintained while focusing on growing revenues.
Noel Quinn's Surprise Exit Marks End of an Era at HSBC
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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