Two leaving Icap FX team

Two members of Icap's spot FX team are to leave. Garry Munday, head of spot FX in London, will be joining WestLB later this month, and Rene Simonsen, based in Copenhagen, will be joining Nordea in December.

At WestLB Munday will have responsibility for sterling books and spot FX relationship flow sales.

Simonsen will work on the FX desk in Nordea's Copenhagen office. In his new role he will report to Mick Akjaer, head of FX and FX options trading.

Icap has also lost its Copenhagen head, Eric Schiotz, who has joined Saxo Bank's Scandinavian desk. Schiotz's position at Saxo is institutional sales manager. He remains based in Copenhagen, and in his new role reports to Thomas Dam, who heads the desk.