Stephane Prunier Joins CIBC Europe in FX Sales

The Canadian Imperial Bank of Commerce (CIBC) Europe has hired Stephane Prunier as a Director of FX Sales Europe in Luxembourg this month, according to market sources.

Prunier is an experienced Head of Sales with a demonstrated history of working in the financial services industry. He is skilled in FX Hedging, Interest Rate Derivatives, FX Options, Interest Rate Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term, and Fixed Income.

Headquartered in Toronto, CIBC is one of the “Big Five” banks in Canada. Forty-five thousand employees provide a full range of financial products and services to 10 million clients in Canada, the United States, and around the world, according to the bank.

Extensive industry experience

Prunier moved to the firm from Societe Generale, where he was Head of FX and EM FI Sales France, Switzerland, and Benelux.

Prunier had joined the French bank in 2011 as Head of Institutional Sales France, Benelux, and Switzerland.

He also worked as Head of Corporates at the firm.

Prunier’s career started PARIBAS in 1991. He spent more than 11 years in FX sales at PARIBAS/BNP Paribas, before becoming Head of French Financial Institutions.

He also served as Managing Director, Co-Head of French Sales at Bear Sterns, and in Financial Market Sales France at Standard Chartered Bank prior to moving to Societe Generale.

Bear Sterns was a New-York based global investment bank, securities and brokerage firm that failed in 2008 as part of the global financial crisis and recession, and was subsequently sold to JP Morgan Chase.