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BofA moves to replace lost FX staff

Bank of America (BofA) hired four senior foreign exchange traders and three institutional forex sales staff in April, in an ongoing expansion of its foreign exchange division, following a number of forex staff leaving the US bank last year.

    • Sophie Brown
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The seven hires - just some of the 30 the bank said in January it would add in forex this year - represent a shift to a more aggressive risk-taking strategy, said Larry Baum, global head of spot, forward and proprietary trading at the bank in New York.

Baum is himself a recent recruit, having joined Bank of America from Barclays Capital in the City a few weeks ago. "We’re focusing on traders who will work more closely with our client base as well as take the risk transference from our clients,"

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