Newedge announced that Laurent Cunin has been appointed Head of the Asia Pacific region, replacing Pierre Gay, who has been named Global Head of Fixed Income, Currency and Commodities (FICC).
Gay will be based in Hong Kong for the first quarter of 2010 as Cunin makes the transition to his new position. Cunin was previously acting CEO of Americas and Head of Sales Americas for the firm. He will focus on expanding and strengthening Newedge's operations in the Asia Pacific region.
Gay will be charged with global product management and development and work with regional heads on FICC regional performance. He will report to Nicolas Breteau the Global Head of Sales and Front Office. Patrice Blanc, CEO of Newedge, said in a statement, "These appointments reinforce our intention to offer our clients a range of products which are consistent between the different geographical regions."
He added, "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."