Cunin had been acting CEO and head of sales for the
Americas, but has previously spent eight years in Asia, including running the
Tokyo office of Fimat, Newedge’s predecessor firm.
He replaces Pierre Gay, who becomes global head of fixed
income, currency and commodities. After remaining in Hong Kong to help with the
transition, Gay will be responsible for global product management and
development, working with regional heads on improving regional performance in
FICC.
“These appointments reinforce our intention to offer our
clients a range of products which are consistent between the different
geographical regions,” said Patrice Blanc, Newedge’s CEO. “FICC covers forex,
fixed income, energy, agricultural and metals businesses and will provide a
better coverage of our customer base to match our global organisation. It will
also offer stronger cross-selling opportunities between forex, fixed income and
commodities.”
The brokerage, a joint venture between French banks Société
Générale and Calyon, is a member of 14 derivatives exchanges in Asia Pacific,
and employs more than 500 staff in the region.
It has offices in eight countries, with major market shares
in Singapore, Japan, Hong Kong and Australia, as well as an increasing focus on
emerging exchanges in Taiwan, South Korea and India. It also has a joint
venture with the Citic Group in China.
The job changes are the latest in a series of senior hires
and promotions at Newedge. In November, the firm made John Ruskin global head
of financial futures and options execution.
In December, Newedge appointed former Morgan Stanley man
John Fay as head of its Americas operations, based in New York. Fay will
oversee the firm’s regional performance, as well as local risk, compliance and
regulatory issues.
He will also be a senior managing director on the broker’s
executive committee, reporting to Blanc and to Nicolas Breteau, global head of
sales and front office.
Fay was formerly co-CEO and co-president of Instinet, a
global institutional brokerage with one of the earliest successful electronic
communication networks. The firm was sold to Nomura in 2007. He has also worked
at Goldman Sachs.