Barclays Capital has hired three foreign exchange salesmen to establish an fx sales group to market products to financial institutions that are not active in the inter-dealer broker market. Tanguy Cruysmans, senior fx and interest rate derivatives marketer at Bank of New York in London, joins as a director and fx salesman, Jo Hughes, global head of non-reciprocal bank sales at Commerzbank Securities in London, will be a director and fx salesman, and David Seaman, associate director in non-reciprocal bank sales at Commerzbank, was hired as an assistant director and fx salesman.
All three report to Roddy Boulton, head of European institutional fx sales in London. Boulton said the bank has taken up the new line of business as part of its goal to become a top five player in fx.
At Commerzbank, Hughes and Seaman reported to Ricardo Pascoe, global head of foreign exchange, fixed income and alternative investment strategies. Neil Brazil, spokesman in London, said Peter Hahn, head of fx sales in Frankfurt, will oversee Hughes and Seamen's responsibilities while the bank hires six sales professionals, two of which will be direct replacements. At Bank of New York, Cruysmans reported to Stephen Lawler, global head of derivatives marketing in New York.
