Newedge Announces Organizational Changes
Newedge, a global leader in multi-asset brokerage and clearing, announced January 12 that Laurent Cunin is appointed Head of Asia Pacific Region, and Pierre Gay has been named Global Head of Fixed Income, Currency and Commodities (FICC). Gay will remain based in Hong Kong at least during the first quarter 2010 making the transition with Laurent Cunin, who will be replacing him at the Head of Asia Pacific Region (APAC). Cunin was acting CEO Americas and Head of Sales Americas. He previously spent a total of eight years in Asia, and until 2005 was the head of Fimat’s Tokyo office.
Laurent Cunin will be based in Hong Kong and will focus on expanding and strengthening Newedge’s operations in the Asia Pacific region. Cunin is a Newedge Executive Committee member, reporting directly to Patrice Blanc Newedge CEO, and Nicolas Breteau Global Head of Sales and Front Office.
Pierre Gay will be responsible for global product management and development, working with regional heads on FICC regional performance and reporting to Nicolas Breteau Global Head of Sales and Front Office.
Patrice Blanc said “These appointments reinforce our intention to offer our clients a range of products which are consistent between the different geographical regions. FICC covers Forex, Fixed Income, Energy, Agricultural & Metals businesses and will provide a better coverage of our customer base to match our global organization. It will also offer stronger cross selling opportunities between the Forex, Fixed Income and Commodities. Our global product offer will have more coherence and consistency between the different regions, including Asia Pacific, the Americas and Europe and Middle East.”
Newedge is a member of 14 derivatives exchanges in Asia Pacific and employs more than 500 staff in the region. Newedge has a local presence in 8 countries, with leading market shares in Singapore, Japan, Hong Kong and Australia, while building up its footprint and penetration on emerging Asian exchanges in Taiwan, Korea, India, and as part of a two-year old joint venture with the CITIC Group, China.