As part of an initiative to expand its foreign exchange business in the region, Barclays Capital has hired Ivan Ferraroni to head FX sales to bank clients.
Ferraroni joins from Royal Bank of Scotland in Tokyo, where he was head of FX sales and trading. In his new role at BarCap, he will be based in Singapore and will be responsible for the full suite of FX flow and derivative products to bank clients in the region. He will report to Lutfey Siddiqi, head of FX distribution and corporate FX.
"We view Asia-Pacific as a key growth area for FX, and we have been committing senior resources to broaden and deepen our FX offering across the spectrum in the region," said Siddiqi. "Banks are an important segment of our client franchise in Asia-Pacific."
The appointment of Ferraroni comes on the back of a raft of new hires to the bank's regional FX team. Gaurav Tholia has joined BarCap in Singapore as a vice-president in charge of FX derivatives sales to banks and private banks in non-Japan Asia. He joined the firm from J.P. Morgan and will be reporting to Ferraroni.
Eric Schatz, previously BarCap's head of real money FX sales for the Americas, has moved from the bank's New York office to Tokyo to take on the newly created role of head of foreign exchange for Japan. Also in Tokyo, Toshimasa Fujii and Naomi Koyama are joining the firm as directors in FX sales. Fujii previously headed Currenex's Japanese business. Koyama will join BarCap in August from Merrill Lynch, for real money clients in Japan.
