BNP Paribas has hired Alan Dunne, a foreign exchange technical strategist at Bank of America in Singapore, as a London-based strategist for the major developing currency markets in the European time zone. Dunne said he will cover currency and local debt market strategy, including foreign exchange derivatives strategy and interest-rate swaps, for Poland, Hungary, South Africa, Turkey and the Czech Republic.
Dunne started at the beginning of the month and reports to Ashley Dodd-Noble, head of Central and Eastern European strategy in London, who said the position is an expansion and was established to increase the bank's coverage of emerging markets. He added interest in the Eastern European countries continues to increase as their currencies and interest-rates convergence with the euro-zone and yields on emerging market bonds remain high.
At BofA, Dunne performed technical analysis on the major seven currencies. "And I had previously worked in Asian currencies so this is a good opportunity to expand my coverage," Dunne said of the move to Paribas. He made the move to return to Europe.
He had reported to Arnold Miyamoto, BofA's Los Angeles-based head of global risk management. Miyamoto declined to comment.