Standard Chartered is slated to have a void in its foreign exchange (FX) personnel by the years end, following the announced departure of Nitin Gulabani, its Global Head of FX, Rates and Credit. He will be parting ways with the lender at the end of December, according to a report at Risk.net.
Mr. Gulabani originally joined Standard Chartered back in 2007, having worked initially as its Global Head of Interest Rate Derivatives while based out of Singapore. Prior to Standard Chartered, Mr. Gulabani worked at Deutsche Bank in a variety of roles for over a decade. This included stints as a swaps trader as well as the Head of Global Currencies and Commodities in the group’s Asia-Pacific (APAC) unit.
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Following his departure at years end, Chris Allington, Standard Chartered’s Global Head of the Currencies Business, and Neh Thaker, the groups’ Head of Options Trading, will be assuming the responsibilities vacated by Mr. Gulabani.
The move is the latest in a long list of announcements that have been permeating from Standard Chartered over the past few months. In November, Standard Chartered reported that it would cut approximately 15,000 jobs to help jump-start its retail transformation strategy. The news came after the bank recently reported its sagging Q3 2015 revenues that yielded an unexpected -$139 million loss.