Societe Generale has expanded its FX sales personnel, installing Neel Mehta and Susan Henschel within its New York office to cover institutional foreign exchange sales, per an FXWeek report. The move is designed to help drive and foster SG’s global FX business, part of a broader shift by the lender in the FX space.
Neel Mehta joins the French bank from HSBC, where he served for more than four years as its senior vice-president of FX sales, based in New York. Mehta had been in this role since 2014 and was responsible for building HSBC’s corporate franchise and FX derivatives business to hedge funds.
Prior to HSBC, Mehta was director of FX sales at Bank of America (BAML). He left the investment bank in April 2014, after working in hedge fund and corporate sales for four years. He began his career in financial services in 1997 at ABN Amro as a market-maker and proprietary risk taker in FX Options space.
His skill set will combine with that of Susan Henschel, who is also joining Societe Generale as director of FX sales.
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Henschel had occupied a similar role with National Australia Bank for over eight years, most recently taking a senior position on the FX and local markets sales. Overall, she spent more than two decades years in the FX industry in multiple sales roles.
Hires Amid Fines
Henschel’s tenure has also seen her focus on institutional FX sales where, among other roles, she was in charge of business across several regions.
The early stage of her career was spent at Morgan Stanley, working across several departments including FX sales, FX strategy, and credit research, extending back to 2002, according to information made public on her Linkedin profile.
Last month, the US-based broker-dealer arm of Société Générale agreed to pay $800,000 to settle claims that they issued American Depository Receipts (ADRs) without possessing the underlying foreign shares.
The SEC accuses SG Americas Securities of failure to supervise its securities lending desks which caused ADRs to be issued while not backed by actual shares, leaving them ripe for potential market abuse.