RBS expands interbank forex sales team

The Royal Bank of Scotland has expanded its interbank foreign exchange sales business, adding desks in New York and Asia to complement its existing London-based team.

The move aims to offer bank clients a bespoke cross-product service with 24-hour coverage in foreign exchange spot, swaps - including emerging market currencies - and vanilla and exotic FX options.

In London, the spot and options interbank sales teams have merged and are co-managed by global foreign exchange head Roger Hawes and Peter Rading, global head of forex options at RBS in London.

"This new global structure will allow us to co-ordinate spot and options more effectively - clients can still have one contact if they want but the options and spot side will be much more co-ordinated," said Rading.

The interbank team in London was set up about two years ago as an FX options-focused bank sales team, but the bank has seen an increasing demand for the service across its FX products.

Robert Dantone moves internally from the financial institutions sales desk to manage the new interbank sales desk in New York. An additional dealer will be hired during the second quarter to boost North American coverage, said Rading.

In Asia, Adrian Tan will relocate from the Singapore forex sales team to be located with the foreign exchange option trading desk in Hong Kong; while in Tokyo, dealer Ian Williams moves to cover interbank sales.