Finance Magnates can confirm that French bank Societe Generale has undertaken a strategic push into the foreign exchange market after on boarding three new top executives in recent weeks. Looking to increase its market share in foreign exchange, the company has chosen to expand its team at a time when many firms in the industry are taking a lean and mean approach.
Starting with the FX options desk, Societe Generale has appointed Sanchit Jain as Head of Emerging Market Options in Asia. He has been dealing in the FX options space since getting hired by JPMorgan Chase in 2008. Jain has been on-boarded from Credit Suisse where he spent almost 6 years and was last serving in Singapore. His new position is located in Hong Kong.
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The Global Head of Institutional Sales at the French bank, Marc Zaffran has bolstered his team with the hire of Julio Castro Zuazo, who is going to be based in Madrid and will serve as Director of FX Sales. He’s been working in the sphere since 2007, when he was hires by Goldman Sachs. Castro Zuazo has spent 6 years at Merrill Lynch before joining Société Générale.
The last hire worth highlighting and confirming the substantial investment in talent which Société Générale is committing to the FX market is that of Ben Rosswick. After Stephane Petermann has been internally appointed to lead the French bank’s Global FX Options unit, he on-boarded the former Head of G10 FX Options desk in Asia at Bank of America Merrill Lynch.
Rosswick will serve as Head G10 FX Options Asia for Societe Generale from Hong Kong. He’s been in the industry since 2004.