In a recent update released by Swiss-based multinational banking service provider Credit Suisse, it has hired a new executive to be part of its forex team. As per the statement released by the bank, it has on-boarded Mr. Chris Fuligni to work as part of its foreign exchange sales division in the New York office.
This news of appointment comes shortly after the bank’s recent updates which saw the bank hire several executives to serve in senior management level capacity in its forex division across its various branches in the United States. This move can be interpreted as the bank’s commitment to the US market which displays a clear desire and focuses on building a client-focused franchise. Most recently, the bank announced the appointment of Dr. Gunter Grimm to the role of Director and FX strategist.
Mr. Grimm is a veteran of more than two decades of experience in handling forex, credit and rates markets having served in multiple multinational investment banking service providers such as UBS, RBS, Uni Credit, JP Morgan, and Goldman Sachs. Aside from Mr. Grimm, the bank also hired Mr. Phil Tretola and Mr. Sam Osterman earlier this year to serve in the capacity of directors for its forex division.
These hires are aimed at boosting and supporting the bank’s efforts to expand its flow business and enhance its currency product coverage. In his new role as part of the FX sales team, Chris will be reporting to Mr. Mahesh Sinkar, Managing Director based out of Credit Suisse’s New York office. Before taking up his current role at Credit Suisse, Chris worked at French co-operative bank Credit Agricole CIB in its FX sales division.
While at Credit, Agricole CIB, Mr. Fuligni helped shape the lender’s FX Options client business into one which is very similar to advanced FX options business done at RBS. Earlier in his career, he also helped Bracebridge Capital launch its FX derivatives trading business from scratch. Mr. Fuligni is also a veteran with several decades of experience working in the FX industry similar to other executives who currently make up the bank’s Forex team.
During his 25-year long career, he has held several senior-level managerial and leadership roles at major financial institutions the most notable of which was his eight-year-long tenure at RBS.
While at RBS, he was responsible for client pricing of all complex option products and held the roles of Managing Director of FX/Hybrid derivatives structuring and sales at RBS. Chris’s new role with the Swiss lender comes at a critical time given its damaged reputation following anti-trust lawsuits which were filed by a group of investors for allegedly rigging prices for personal benefits by sharing confidential orders and trading positions.