Cantor Fitzgerald Hires Former Morgan Stanley Executive to Head its FX Division

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Retired Mobil Chief Urges New York to Exercise Caution against FrackingLeading financial services firm Cantor Fitzgerald & Co has appointed James Reilly as its Global Head of Foreign Exchange Sales and Trading and Senior Managing Director

“James brings to Cantor invaluable buy-side experience and extensive knowledge of the global corporate client base, which will undoubtedly strengthen our FX sales and trading capability,” said Shawn P. Matthews, Chief Executive Officer of Cantor Fitzgerald & Co.

“The FX world is going through major transformations, and it is our intent to be a significant liquidity solution for customers.  I am confident that James will build on our strong position in the global currency markets and accelerate the growth and success of our FX electronic trading business,” added Matthews in a press release on Wednesday.

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Reilly immediate last position was as the Co-Head of Forex Prime Brokerage and Executive Director at Morgan Stanley. In that role, he was responsible for day-to-day operations and strategy implementation in the Hong Kong, London and New York offices.  He also previously worked at JPMorgan in senior positions in Forex and Forex derivatives division.

In a separate report, China’s State Administration of Foreign Exchange has pledged to introduce more stringent checks on FX businesses of financial institutions this year in order to control regional financial and systemic risks, according to Reuters.

The move, which was announced in a press release posted on its website, has been taken by the market as a sign that China is committed to retaining a flexible exchange rate. It is also an indicator that it is steadily opening up its economy. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Yashu Gola at yashu@forexminute.com