One in, One out: BNP Paribas’ FX Sales Director Leaves to RBS

Royal Bank of Scotland has hired a former senior trader of French lender BNP Paribas to head its FX sales.

Martin Amann is joining RBS as its director of 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 where he will focus on enhancing its product offering and expanding the client franchise.

Amann has been a mainstay in the FX industry for the past twenty years, working at multiple lenders, including BNP, Credit Suisse and Lehman Brothers, based out of several locations.

He initially made his foray into the financial services space back in 1997 as a VP FX spot/option, with global insurance company AIG. During this period, Amann was based out of New York, following his tenure as Credit Suisse’s director of the global macro sales division.

He quit BNP Paribas after a more than 4-year tenure, having joined the bank in 2013, also as head of FX sales, his LinkedIn profile shows.

BNP Paribas has seen a raft of departures from its FX team to rivals over the past few months, most notably moving to Japanese investment bank Nomura. This included bringing in Asa Atwell, who was part of the same team, as its new Head of FX and Emerging Markets. Before joining Nomura, Atwell spent the bulk of his career with BNP Paribas in a mix of options and FX trading roles.

RBS Axes Jobs

Amann joins Royal Bank of Scotland while the bank, which is still majority owned by British taxpayers, ‎accelerates its job-cutting scheme, axing further jobs and closing more ‎branches as customers increasingly turned to online banking.‎

At the beginning of May, RBS let around 792 employees go from its UK operations. The news of job losses came despite the state-backed lender reporting its first full-year profit in a decade.‎

Britain’s state-rescued lender agreed in August to pay $4.9 billion to settle charges that it misled investors with residential mortgage-backed securities that it sold in the run-up to the 2008 financial crisis.