Standard Chartered Brazil Names Rates and FX Trading Team
New York, June 7, 2010
In conjunction with the launch of its trading operations in Brazil, Standard Chartered is pleased to announce the formation of its Brazil Rates and FX (RFX) trading team. The team will encompass both onshore and offshore Rates and FX products and will allow stronger coordination on behalf of clients.
Renato Fonzar will assume the role of head of RFX Brazil. Fonzar joined Standard Chartered in March this year, having previously worked at Itau BBA in Sao Paulo as senior FX trader. He will continue to be based in Sao Paulo and will report jointly to Peter Hirsch and Todd McDonald, heads of rates and FX trading for the Americas, respectively.
Eduardo Hargreaves will continue as head trader for offshore Brazil FX. Hargreaves joined Standard Chartered via its purchase of American Express Bank in 2008. He will continue to be based in New York.
Luciano Jimenez will be the head trader for Brazil rates. Jimenez joined the bank in May from BNP. He will continue to be based in Sao Paulo.
Luiz Lu will be the trader responsible for onshore Brazil FX. Lu joined the Bank in November 2008 via Standard Chartered’s purchase of Lehman Brothers’ operations in Brazil. He will continue to be based in Sao Paulo.
In April the Brazilian Central Bank granted Standard Chartered authorization to begin investment banking operations from its branch in Sao Paolo. The license allows Standard Chartered to offer on-shore FX and interest rate products, BRL-denominated products on local exchanges, OTC derivatives and cash instruments to local clients and local capital markets origination and underwriting.
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About Standard Chartered
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Group earns around 90 per cent of its income and profits in Asia, Africa and the Middle East, from its Wholesale and Consumer Banking businesses. The Group has over 1600 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs around 70,000 people, nearly half of whom are women. The Group's employees are of 125 nationalities, of which about 70 are represented in the senior management.
About Standard Chartered, Americas
Standard Chartered Bank operates in 11 markets in the Americas region, including the U.S., Canada, Mexico, the Caribbean, and, in Latin America, Argentina, Brazil, Chile, Colombia, Peru, Uruguay and Venezuela.
Standard Chartered has both a wholesale bank and a private bank in the Americas. The wholesale bank provides financial products and services to corporations, financial institutions and development organizations in the Americas. Key products include trade finance services, cash management, treasury, foreign exchange and interest rate products, commodity finance, and structured import and export finance services. Its primary function is to facilitate trade and investment flows between the Americas and the Group’s core geographies of Asia, Africa and the Middle East. The Standard Chartered Private Bank in Miami services clients based primarily in Latin America. It maintains an advisory center in Miami and client offices in Uruguay and Chile.
For more information, please visit: www.standardchartered.com