Saxo Bank, the Copenhagen-based FX, and multi-asset broker, has appointed James Dewdney to a senior sales role within its institutional business based out of London.
Dewdney will be focused on further developing the global sales of Saxo Bank’s rapidly growing prime of prime brokerage, as well as technology sales and client acquisition.
Prior to landing at the Danish broker, he spent more than two years as vice president of Citi’s FX prime brokerage business in Singapore, preceded by one year at CFH Clearing, one of the leading interbank prime of prime (PoP) liquidity providers.
Earlier in his career, James joined the institutional FX agency desk at Market Securities, a part of Kyte Broking, where his role expanded into e-FX, regional banks, sell-side firms, and CTA hedge funds.
Later in 2013, he joined ISAM to serve as an agency broker covering institutional sales but more recently has focused on e-FX sales and prime of prime services as a part of the IS Prime’s e-FX sales team where he managed to secure a number of key clients.
Citi consolidates FX business
James graduated from University in Bristol in 2009. Having been a voice broker for many years and then gone into the world of eFX, he has a wealth of experience, knowledge, and contacts.
Dewdney left Citigroup just as the US bank revealed plans to combine its foreign exchange & local markets and G10 currencies units under one integrated department. The two merged operations retain their current branding and offerings though they already have similar product suits and share sales and technology resources.
Citigroup has made changes as it conducts an enterprise-wide review in the wake of a series of consumer scandals. Citi’s FX prime brokerage unit has come under fire after losses of as much as $180 million in loans to an Asian hedge fund. The unit was reportedly pulled from the currency trading division and put instead under the oversight of the lender’s prime finance and securities services unit.
Citi is the fifth-largest currency trading firm by market share last year, after the likes of JPMorgan and UBS.