JOB CYCLE

Andy Law has joined Commonwealth Bank of Australia as manager of risk management sales in London, replacing Sarah Pearce, who has left the bank. Law was previously assistant director on the structured derivatives sales desk at Hambros Bank in London.

Bank of America in San Francisco has hired Robert Reoch to head its global credit derivatives effort. Reoch will report to James Gill, managing director in the financial engineering and risk management unit. Prior to joining BofA, Reoch worked as global head of derivatives at Nomura International in London.

Richard Davis

has also joined BofA, where he will work with Reoch in building the bank's credit derivatives team. David comes from Lehman Brothers in New York, where he was vice president of credit derivatives and bond index derivatives trading.

Lisa Polsky, managing director and chief derivatives strategist of Morgan Stanley, has been appointed to the advisory board of the University of Chicago's newly created programme on financial mathematics.

The five member board helps guide the programme, which is designed by the university's mathematics department. The programme teaches graduate students the use of mathematical models in the financial marketplace.

FNX, the Wayne, Pennsylvania-based vendor, has hired Julian Cook as managing director of foreign exchange products. Cook will oversee development of FNX's foreign exchange, spot/forward and options systems.

Previously, Cook was a senior consultant at Inventure for their Fenics product line. Before that, he was an options trader at Chase Manhattan Bank for eight years.

Integral Development, the California-based capital markets technology vendor, has hired Tim Westhoff, as general manager for sales in North America. Westhoff was previously a vice president of sales at SS&C Technologies.

Patrick Thorton-Smith will join Rolfe & Nolan next month as sales and marketing director for R&N's futures and options software division. Previously, Smith was director of marketing at BZW Futures.