Global Head of Foreign Exchange at Deutsche Bank Kevin Rodgers to Retire in June

After a loyal set of 15 years of service, the global head of FX at Deutsche Bank, Kevin Rodgers has announced that he will be retiring to concentrate his efforts on his scholarly interests and hobbies according to a statement issued by the biggest German bank.

With the banking 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 trading environment in dire straits after the launch of a formal investigation by the FCA on FX fixing methodologies, Bloomberg reports that according to an emailed statement sent by Deutsche Bank, Mr. Rodgers has come to “a personal decision to retire from the industry to pursue other ambitions including academia and music."

With the foreign exchange probe rolling heads across the industry, it seems like a good time for successful executives to retire from this business. While challenging times are ahead for most of the banks participating and involved in the probe, Mr. Rodgers might still keep in contact with regulatory authorities which are continuing their investigation of the FX fixing scandal.

Rapidly developing technologies for FX divisions at major banks to become fully automated are changing the business model of banking Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term business fast, so an experienced executive at the prime of his career can afford to leave his prestigious position, despite the ongoing deep investigations as to how exactly dealings were conducted at major FX desks. Similar moves are certain to be closely monitored by the dozen of regulators involved in the FX probe as suspicions are raised across the industry.

Deutsche Bank has reiterated repeatedly that it is fully cooperating with authorities in relation to the ongoing investigations.