Baton Systems

Neal Thompson Appointed as BNY Mellon’s Head of FX Options

BNY Mellon - FX OptionsBNY Mellon, US based multinational banking and financial service provider recently revealed that its senior level leadership team is undergoing a change. As per the update, the firm has hired a new executive to serve as Head of its FX Options business division, however the update is a bit delayed as newly appointed executive began his term at the firm back in August with the move being made public first via changes made to incoming executive’s LinkedIn profile. BNY Mellon’s FX Options unit caters to numerous buy-side institutions which hedge their currency risks which in today’s global FX market stands at nearly US$ 6 Trillion a day. The incoming executive is a veteran with twenty five years of experience in financial services industry and is an expert when it comes to fixed income, currency derivatives, commodities, exchange traded instruments, emerging markets and equity indices derivatives.

Given his vast career history, Neal Thompson has become an expert in various key aspects of running a financial services firm such as client marketing, training staff on the desk and around the floor, hiring of personnel, involvement in the compensation process, staff reviews, monitoring risk limits, p/l postings, liaising with the quant group on projects/systems, developing risk management tools and SFA management reports. Thompson spent a major chunck of his career focused on fixed income products. But he has recently shifted his career path into buy side focused firms during which he gained experience in setting up hedge funds, prime brokerage agreements fees and capital allocations. As per information in his LinkedIn profile, his move to buy-side focused firm has enabled him to get a better understanding on greater sales / customer relationship and the need to simplify risk compared to the more complex market making ventures.

He began his career as an FX derivatives trading at NatWest in 1990 having graduated with a degree in economics from University of York. After serving at NatWest for nearly 4 years, he shifted his base to New York where he joined Credit Suisse and served as the firm’s Head of New York Desk for nearly twelve years during which he was in charge of dealing in Vanilla, Exotic and Emerging markets. He then served as Head of NY FX Options desk at Standard Chartered Bank and Portfolio Manager for Blue Crest Capital Management LLP. Before taking up his current role at BNY Mellon, he served as Head of NY FX Options at ANZ bank for two years. The incoming executive is replacing Mr. Sam Osterman as Head of BNY Mellon. Sam joined BNY Mellon back in January of 2018 as head of the newly created FX options unit since its inception and slightly ahead of the official launch of this business unit back in June of 2018 as part of the firm’s initiative to transform its FX business division. Earlier this year, the firm made the headlines for launch of its prime brokerage business division.


Internal Hyperlink: