HSBC Leans on Ashwath Venkataraman as Global Head of FX Options

HSBC’s acting Global Head of Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (FX) Options, Selene Chong, has taken a temporary sabbatical, paving the way for veteran Ashwath Venkataraman to fill the void for the foreseeable future, according to an FX Week report.

Chong has been a mainstay at HSBC for over fourteen years, having worked at the global bank exclusively relegated to FX. Chong has been based out of HSBC’s Hong Kong headquarters in the role dating back to 2001.

In Chong’s stead will be Ashwath Venkataraman, who assumes the mantle of responsibility as HSBC’s newest Global Head of FX Options. Prior to the elevation, he served as the Head of FX Options for Europe, Middle East and Africa (EMEA) region at HSBC. He has been based out London during his tenure with HSBC, with a penchant for emerging markets.

Between 2009 and 2014, Mr. Venkataraman worked as HSBC’s Global Head of Emerging Market FX Options. It is presently unknown how long the sabbatical will last, though Mr. Venkataraman is slated to fill the position indefinitely until Chong’s return.

In other news, HSBC recently reported its Q2 2015 operating metrics. The bank saw pretax profits soar to $13.63 million during H1 2015, corresponding to a 10.2% growth YoY from $12.34 million in H1 2014. Earlier this year, HSBC oversaw the cut of nearly 25,000 jobs across its Brazilian and Turkish units, following its decision to scale back its IT and back office operations.