Italian bank UniCredit pumps new blood into its foreign exchange business with the appointment of Tibor Gergely, formerly of BAML, as Director in FX eCommerce.
Tibor joins UniCredit from Bank of America Merrill Lynch where he worked for six years managing the development and deployment of the bank’s system for online FX trading and options, including price generation and algorithmic trading development for auto hedging within a high-frequency trading environment.
UniCredit’s e-commerce unit is active in the areas of securities sales and trading, investment banking, private wealth and asset management, direct and venture investments, as well as personal investment and finance.
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Mr. Gergely most recently served as sole front-office employee in the trading hierarchy in EMEA looking after electronic FX agency products: execution algorithms with transaction cost analysis (TCA), benchmark fixings and resting orders.
He originally joined BAML in 2011 as a quant trader in electronic FX market making. Earlier in his career, he occupied a similar position with BNP Paribas for more than two years where he co-developed high-frequency automated pricing mechanisms and algorithmic-based hedging strategies for the spot FX market-making trading desk.
Before his time at BNP Paribas, Tibor worked for a number of banks in a variety of FX-related roles, mostly in New York.