Sucden Financial has appointed Noel Singh as Head of eFX Business Development, where he will lead the firm’s development of its non-bank FX prime brokerage business.
Singh will specifically target institutional firms, including asset managers, hedge funds and prop trading houses. His appointment comes as part of a significant investment plan to expand the company’s FX business. This includes the introduction of Cobalt DL, utilising new blockchain derived technology, which can significantly cut post-trade costs and mitigate risk when trading across multiple venues.
Joining from ABN Amro Clearing Bank, where he managed their OTC FX clearing business, Singh has over 25 years’ experience in banking and currency trading. Other past positions include Head of FX Prime Brokerage for SEB and senior roles at Integral Development, Dresdner Kleinwort, EBS and also Dai-Ichi Kangyo Bank, prior to its merger.
Singh said; “I am excited to join such an established and innovative firm, which has seen a rapid growth in FX and is already a key supplier of eFX liquidity. Given the developments in the market over the past two years and the company’s financial strength and its ability to invest, we are well positioned to reach broader markets and offer the benchmark non-bank FX prime brokerage service for institutions.”
Wayne Roworth, Co-Head of e-FX, commented; “I am delighted to welcome Noel to our team. He is very well regarded in the industry and will play an important part in building our institutional client base. His expertise will help us reach new institutional clients requiring market access with lower entry requirements, the latest technology and a fully transparent service.”
Sucden Financial has been offering FX services for over 30 years, with established prime brokerage relationships and liquidity from a variety of sources, including tier 1 banks.