Citi FX Veteran Richard Bibbey Joins HSBC to Head FX Cash Trading and Risk Unit

After nearly twenty years at Citigroup, Richard Bibbey is joining HSBC to become head of FX cash trading and risk management starting on June 20th, according to reports by Reuters IFR unit that cited HSBC confirming the news.

Previously, Bibbey departed his recent role with Citi where he was Head of Spot FX trading for the bank, as well as Head of eFX trading, according to a LinkedIn profile description, and as per the Reuters coverage.

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Mr. Bibbey started with Citi in 1998 at the STIRT trading division in London, and after numerous related senior roles - including as Head of FX Trading for Australia based in Sydney for nearly five years. He had taken on subsequent senior positions at the firm including his most recent roles, before departing from the bank earlier this year. Citi recently also made a senior appointment after it announced last week that Grant Carlson will head its Global Subsidiary Group (GSG).

A new FX journey awaits Mr. Bibbey as he undertakes a key position as head of FX cash trading and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term for HSBC - one of the world’s leading banks.

Mr. Bibbey will report to Frederic Boillereau, head of global FX and commodities and head of global markets corporate services, as per coverage by Reuters – which added that HSBC said the new role was created in order to combine the voice and electronic trading units into one team and support growth for its FX business.