ABN AMRO has hired Emma Edworthy, foreign exchange options analyst at Standard & Poor's MMS in London, to boost its trading recommendations capability. Tony Norfield, global head of foreign exchange research at ABN AMRO in London, said with more currency overlay managers and corporate treasurers using foreign exchange derivatives it decided the time was right to offer regular trading strategies. The bank's research team has focused on market movements rather than trading recommendations until now. Edworthy, who started two weeks ago and reports to Norfield, did not return calls.
Standard & Poor's MMS is looking to replace Edworthy, according to Helene Ilmaier, director of European market analysis in London. The role is to report on foreign exchange options market activity and develop trading strategies for S&P MMS' clients. The analyst will report to Ilmaier and is likely to come from a bank's research desk or have been a trader or broker with a technical understanding of the market, she added.
Standard & Poor's MMS foreign exchange team consists of eight analysts: two covering the options market, two looking at fundamentals and two focusing on technicals. There is also a North American and Asian team.
