BNY Mellon Onboards Paresh Shah from HSBC to Join FX Team

BNY Mellon ‏has named Paresh Shah as global chief operating officer in its foreign exchange business. He replaces and also reports to Jason Vitale, who was promoted in July to the global head of the firm’s FX, fixed income and trading unit.

Shah has been working in the banking and FX industry for nearly 25 years, starting his career with E.ON UK in London and then moving to New York in 2001 to trade with Deutsche Bank.

He joined the Wall Street bank from HSBC, where he held an analogous position for more than two years. During this period, he served as the UK lender’s COO of Americas for FX, Commodities & Corporate Sales.

Prior to joining HSBC in early 2018, Shah spent 16 years with Deutsche Bank in various positions, most recently global COO of FX and EM debt for Latin America. He also led the German bank’s FX & Commodities business in Americas following several years in institutional equity sales.

Shah has spent the bulk of his career in the investment banking industry. He was also involved with client marketing, training staff, as well as developing Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term and research tools.

BNY Mellon rolls out more FX products

Earlier in 2018, BNY Mellon‏ ‏launched a prime brokerage service taking on rivals such as Citi, Deutsche Bank, and JP Morgan. The service enables clients to trade and margin their FX through a counterparty that oversees more than $30 trillion of assets under custody.

BNY Mellon also rolled out its foreign exchange (FX) options products back in 2018 to allow its clients to better hedge currency exposure. The bank‏ ‏has ventured into the options space to complements its existing foreign exchange business, which consists of FX custody, Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, and hedging.