HSBC hires new North American head of FX sales and trading

HSBC has hired Ben Welsh as managing director and head of foreign exchange sales and trading for North America. Welsh joins HSBC from Goldman Sachs’ New York office, where he was head of foreign exchange spot and forward trading.

“Ben’s strong client and trading skills will help us aggressively develop our corporate and institutional foreign exchange business in North America as we work towards our goal of a top three position in forex globally,” said Stuart Gulliver, HSBC’s head of global markets.

Welsh, whose new role includes derivatives coverage, will report to Joe Petri, HSBC’s North American treasurer.

In September, HSBC set up a proprietary forex trading desk in New York, run by HSBC veteran Dominic Larche.