Royal Bank of Scotland has hired a former senior trader at French lender BNP Paribas to head its FX sales. Martin Amann is joining RBS as its director of foreign exchange sales where he will focus on enhancing its product offering and expanding the client franchise.
Amann has been a mainstay in the FX industry for the past twenty years, working at multiple lenders, including BNP, Credit Suisse and Lehman Brothers, based out of several locations.
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He initially made his foray into the financial services space bank in 1997 as VP FX Spot/Option trader with global insurance company AIG. During this period, Amann was based out of New York, following his tenure as Credit Suisse’s director of the global macro sales division.
He quit BNP Paribas after a more than 4-year tenure, having joined the bank in 2013, also as head of FX sales, his LinkedIn profile shows.
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BNP Paribas has seen a raft of departures from its FX team to rivals over the past few months, most notably moving to Japanese investment bank Nomura. This included brining in Asa Atwell, who was part of the same team, as its new Head of FX and Emerging Markets. Before joining Nomura, Atwell spent the bulk of his career with BNP Paribas in a mix of options and FX trading roles.
RBS Axes Jobs
Martin joins Royal Bank of Scotland while the bank, which is still majority owned by British taxpayers, accelerates its job-cutting scheme, axing further jobs and closing more branches as customers increasingly turned to online banking.
At the beginning of May, RBS let around 792 employees go from its UK operations. The news of job losses came despite the state-backed lender reporting its first full-year profit in a decade.
Britain’s state-rescued lender agreed in August to pay $4.9 billion to settle charges that it misled investors with residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis.
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