Nomura boosts FX trading desk with senior Deutsche Bank hire

Nomura has hired Deutsche Bank’s Ruchir Sharma as global head of FX options trading.

Sharma was previously head of global FX for Asia Pacific at Deutsche Bank. He also had stints at Credit Suisse, which included time as head of APAC FX trading, and Bank of America.

Sharma will be based in London and report to Kevin Connors, co-head of global FX and emerging markets. Nomura said he would closely coordinate between the bank’s FX trading and sales teams.

Nomura has been building out its FX trading team over the past two years. Last year, the Japanese investment bank hired 10 FX traders, including four from Citi, according to Bloomberg.

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Earlier in November, Nomura hired Christian Brucher, a 13-year veteran of Credit Suisse, to its green technology unit.

In September, the bank made three senior hires to its markets division to bolster its insurance coverage. David Steckl, Sandeep Bidani, and Chakradhar Singh were appointed to Nomura’s sales team in New York.

The FX market has been undergoing a shift in recent years as regulations such as the uncleared margin rule and a standardised approach for counterparty credit risk under Basel III push more FX into exchange-traded or cleared contracts.

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