Bank of America Merrill Lynch announced today that Bryant Park, head of global FX sales, is departing, according to an internal memo seen by Financial News. According to the media outlet, the bank has named Eugenie Curtil as his replacement.
Curtil has been working as Head of FX Sales for the European Union at Bank of America. Prior to her current role, Curtil worked as Head of EMEA Real Money FX Sales and FX Sales Director. Overall, the executive has been working for over 11 years at the company.
Before joining Bank of America Merrill Lynch, she worked as Vice President of FX Sales at Bank of America in the London branch between 2008 and 2010 before the rebranding to Bank of America Merrill Lynch. Between 2005 and 2008, Curtil worked as an FX Sales Associate at Lehman Brothers.
She pursued studies at Lycée Sainte-Geneviève and ESSEC Business School between 1998 and 2004.
Curtil will report to Denis Manelski, the company’s global fixed income and currencies director. She will be based in Paris, where Bank of America has been building its trading division and shifting high-level personnel to establish a hub
Hub
A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method used by cryptocurrency exchanges. This method provides transparency and allows traders to see the depth of the market. It also allows for more competitive pricing because there is no trading desk and no price manipulation. The disadvantage of this type of platform is that sudden market volatility can shift all traders to one side of the market or the other. There can be all buys and no seller or all sellers and no buyers. Liquidity Hubs ExplainedThis leads us to a liquidity hub, which platforms and brokers use to process each trade on their platform. When many liquidity providers join together to form a liquidity hub, they can also process trades whether they are more buys then sellers or vice versa. Deals can be processed faster for lower costs. Liquidity hubs allow brokers to deliver tight spreads into their traders and execute client orders at the best available prices from multiple liquidity providers. Liquidity hubs are traditionally hosted in premier data centers with a high concentration of trading participants such as Hong Kong, Chicago, or New York. These hub services provide full redundancies on the equipment and network supporting them, including the international pipe to primary and secondary data centers.
A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method used by cryptocurrency exchanges. This method provides transparency and allows traders to see the depth of the market. It also allows for more competitive pricing because there is no trading desk and no price manipulation. The disadvantage of this type of platform is that sudden market volatility can shift all traders to one side of the market or the other. There can be all buys and no seller or all sellers and no buyers. Liquidity Hubs ExplainedThis leads us to a liquidity hub, which platforms and brokers use to process each trade on their platform. When many liquidity providers join together to form a liquidity hub, they can also process trades whether they are more buys then sellers or vice versa. Deals can be processed faster for lower costs. Liquidity hubs allow brokers to deliver tight spreads into their traders and execute client orders at the best available prices from multiple liquidity providers. Liquidity hubs are traditionally hosted in premier data centers with a high concentration of trading participants such as Hong Kong, Chicago, or New York. These hub services provide full redundancies on the equipment and network supporting them, including the international pipe to primary and secondary data centers.
Read this Term in the aftermath of Brexit.
Bank of America’s Financial Results
Recently, Bank of America released its financial results for the first quarter of 2022 and reported better-than-expected earnings per share (EPS) of $0.80. Net income came in at $7.1 billion. Consumer banking generated a net income of $3 billion, which was driven by strong growth in the number of new clients.
Net income related to Global Markets reached $1.6 billion in Q1 of 2022. Sales and Trading revenue took a hit of nearly 7% in the recent quarter. Fixed Income Currencies and Commodities (FICC) revenue reached $2.7 billion and Equities
Equities
Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling partial ownership in the company.There are many reasons for individuals investing in equities. In the United States for example, equity markets are amongst the largest in terms of transactions, investors, and turnover.Why Invest in Equities?Overall, the appeal of equities the potential for high returns. Most portfolios feature some portion of equity exposure for growth.In terms of investing, younger individuals can afford to take on higher levels of equity exposure, i.e. risk. Consequently, these people have more stocks in their portfolio because of their potential for returns over time. However, as you are planning to retire, equity exposure becomes more of a risk.This why many investors or holders of retirement accounts transition at least part of their investments from stocks to bonds or fixed-income as they get older.Equity holders can also benefit through dividends, which differ notably from capital gains or price differences in stocks you have purchased.Dividends reflect periodic payments made from a company to its shareholders. They’re taxed like long-term capital gains, which vary by country.
Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling partial ownership in the company.There are many reasons for individuals investing in equities. In the United States for example, equity markets are amongst the largest in terms of transactions, investors, and turnover.Why Invest in Equities?Overall, the appeal of equities the potential for high returns. Most portfolios feature some portion of equity exposure for growth.In terms of investing, younger individuals can afford to take on higher levels of equity exposure, i.e. risk. Consequently, these people have more stocks in their portfolio because of their potential for returns over time. However, as you are planning to retire, equity exposure becomes more of a risk.This why many investors or holders of retirement accounts transition at least part of their investments from stocks to bonds or fixed-income as they get older.Equity holders can also benefit through dividends, which differ notably from capital gains or price differences in stocks you have purchased.Dividends reflect periodic payments made from a company to its shareholders. They’re taxed like long-term capital gains, which vary by country.
Read this Term revenue touched $2.0 billion. Bank of America’s Global Wealth Management and Investment Management saw a net income of $1.1 billion. Merrill Wealth Management added nearly 6,900 new households.
Bank of America Merrill Lynch announced today that Bryant Park, head of global FX sales, is departing, according to an internal memo seen by Financial News. According to the media outlet, the bank has named Eugenie Curtil as his replacement.
Curtil has been working as Head of FX Sales for the European Union at Bank of America. Prior to her current role, Curtil worked as Head of EMEA Real Money FX Sales and FX Sales Director. Overall, the executive has been working for over 11 years at the company.
Before joining Bank of America Merrill Lynch, she worked as Vice President of FX Sales at Bank of America in the London branch between 2008 and 2010 before the rebranding to Bank of America Merrill Lynch. Between 2005 and 2008, Curtil worked as an FX Sales Associate at Lehman Brothers.
She pursued studies at Lycée Sainte-Geneviève and ESSEC Business School between 1998 and 2004.
Curtil will report to Denis Manelski, the company’s global fixed income and currencies director. She will be based in Paris, where Bank of America has been building its trading division and shifting high-level personnel to establish a hub
Hub
A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method used by cryptocurrency exchanges. This method provides transparency and allows traders to see the depth of the market. It also allows for more competitive pricing because there is no trading desk and no price manipulation. The disadvantage of this type of platform is that sudden market volatility can shift all traders to one side of the market or the other. There can be all buys and no seller or all sellers and no buyers. Liquidity Hubs ExplainedThis leads us to a liquidity hub, which platforms and brokers use to process each trade on their platform. When many liquidity providers join together to form a liquidity hub, they can also process trades whether they are more buys then sellers or vice versa. Deals can be processed faster for lower costs. Liquidity hubs allow brokers to deliver tight spreads into their traders and execute client orders at the best available prices from multiple liquidity providers. Liquidity hubs are traditionally hosted in premier data centers with a high concentration of trading participants such as Hong Kong, Chicago, or New York. These hub services provide full redundancies on the equipment and network supporting them, including the international pipe to primary and secondary data centers.
A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method used by cryptocurrency exchanges. This method provides transparency and allows traders to see the depth of the market. It also allows for more competitive pricing because there is no trading desk and no price manipulation. The disadvantage of this type of platform is that sudden market volatility can shift all traders to one side of the market or the other. There can be all buys and no seller or all sellers and no buyers. Liquidity Hubs ExplainedThis leads us to a liquidity hub, which platforms and brokers use to process each trade on their platform. When many liquidity providers join together to form a liquidity hub, they can also process trades whether they are more buys then sellers or vice versa. Deals can be processed faster for lower costs. Liquidity hubs allow brokers to deliver tight spreads into their traders and execute client orders at the best available prices from multiple liquidity providers. Liquidity hubs are traditionally hosted in premier data centers with a high concentration of trading participants such as Hong Kong, Chicago, or New York. These hub services provide full redundancies on the equipment and network supporting them, including the international pipe to primary and secondary data centers.
Read this Term in the aftermath of Brexit.
Bank of America’s Financial Results
Recently, Bank of America released its financial results for the first quarter of 2022 and reported better-than-expected earnings per share (EPS) of $0.80. Net income came in at $7.1 billion. Consumer banking generated a net income of $3 billion, which was driven by strong growth in the number of new clients.
Net income related to Global Markets reached $1.6 billion in Q1 of 2022. Sales and Trading revenue took a hit of nearly 7% in the recent quarter. Fixed Income Currencies and Commodities (FICC) revenue reached $2.7 billion and Equities
Equities
Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling partial ownership in the company.There are many reasons for individuals investing in equities. In the United States for example, equity markets are amongst the largest in terms of transactions, investors, and turnover.Why Invest in Equities?Overall, the appeal of equities the potential for high returns. Most portfolios feature some portion of equity exposure for growth.In terms of investing, younger individuals can afford to take on higher levels of equity exposure, i.e. risk. Consequently, these people have more stocks in their portfolio because of their potential for returns over time. However, as you are planning to retire, equity exposure becomes more of a risk.This why many investors or holders of retirement accounts transition at least part of their investments from stocks to bonds or fixed-income as they get older.Equity holders can also benefit through dividends, which differ notably from capital gains or price differences in stocks you have purchased.Dividends reflect periodic payments made from a company to its shareholders. They’re taxed like long-term capital gains, which vary by country.
Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling partial ownership in the company.There are many reasons for individuals investing in equities. In the United States for example, equity markets are amongst the largest in terms of transactions, investors, and turnover.Why Invest in Equities?Overall, the appeal of equities the potential for high returns. Most portfolios feature some portion of equity exposure for growth.In terms of investing, younger individuals can afford to take on higher levels of equity exposure, i.e. risk. Consequently, these people have more stocks in their portfolio because of their potential for returns over time. However, as you are planning to retire, equity exposure becomes more of a risk.This why many investors or holders of retirement accounts transition at least part of their investments from stocks to bonds or fixed-income as they get older.Equity holders can also benefit through dividends, which differ notably from capital gains or price differences in stocks you have purchased.Dividends reflect periodic payments made from a company to its shareholders. They’re taxed like long-term capital gains, which vary by country.
Read this Term revenue touched $2.0 billion. Bank of America’s Global Wealth Management and Investment Management saw a net income of $1.1 billion. Merrill Wealth Management added nearly 6,900 new households.
Source: https://www.financemagnates.com/executives/moves/eugenie-curtil-becomes-bank-of-americas-fx-sales-head/