Commerzbank's New York forex options head quits

Steve Rendon has left his position as head of foreign exchange options at Commerzbank in New York.

Tom Wood, forex options sales dealer, has taken his role until the bank replaces him, said a spokesperson.

Rendon is expected to resurface at Citigroup in New York, although a spokesperson at the US bank was unable to confirm the hire last week.

Rendon joined Commerzbank in March 2001 to set up the bank's New York options desk at a time when Commerzbank was undergoing a wholesale expansion in North America.