Prudential Securities has added two foreign exchange staffers, whose responsibilities include over-the counter derivatives sales and trading. Peter Graham will join in New York from a similar role at Bank Julius Baer, while Mark Davison has joined in London from Société Générale, according to John Fallon, senior v.p. and head of foreign exchange and precious metals global derivatives in New York. Davison declined comment and Graham could not be reached.
Fallon said the hires follow an internal reorganization, which brought together Prudential's precious metals and foreign exchange derivatives operations. One reason behind the reorganization was to better enable cross selling and co-operation between the businesses. In addition, the merging affords the firm to grow both businesses, he said, noting that further hires are likely.
At SG, Davison reported to Simon Winn, head of treasury spot arbitrage in London, who referred calls to Maria Brookes, spokeswoman in Paris. Brookes said Davison has been replaced by Paul Lamb, who joins from a similar role at American Express.