Marex Spectron has hired a new FX team, in a strategic shift
where the emphasis will move from FX market-making to adopting
an agency model for this part of its business writes
A spokesperson for the London-headquartered commodity
brokers said the three new hires were expected to join the
existing team of seven later in August.
All three join as senior vice-presidents, FX sales and will
lead the new agency broking desk in London, working alongside
the existing team to offer FX services to the
broker’s core commodities clients.
FOWi understands the shift in business strategy will only
apply to the FX team, which constitutes a relatively small part
of Marex Spectron’s commodity and physical energy
Peter Snasdell joins from CIBC where he was executive
director with responsibility for FX, FX options and precious
He has also worked at Newedge, RBC and BNP Paribas.
Meanwhile, Keith Mash and Paul Spillman join from Newedge,
which joined from Calyon and Fimat respectively following the
merger that created the firm.
The announcement is the latest indication Marex Spectron
appears to be refocusing on its core business model, having
closed its FX desk in New York in May.
Its former head of FX, Chris Eagle, was appointed in January
2012 to modernise the unit, achieving notable progress
particularly in spearheading its technology platform
He left the firm two months ago, his departure coinciding
with that of Marex Sprectron’s MD Gavin