Deutsche Bank Hires Galy as a Director in Currency Research

Deutsche Bank AG hired Sebastien Galy, a former currency strategist at Societe Generale SA, as a director of foreign-exchange strategy.

Galy will be based in New York and report to Alan Ruskin, the bank’s global head of Group-of-10 currency strategy. He started at the bank this month. Oksana Poltavets, a spokeswoman for Deutsche, confirmed the move.

Deutsche and Citigroup Inc. were deadlocked for the top spot in this year’s rankings of the world’s biggest currency traders, according to Greenwich Associates. Citigroup posted an 11.7 percent market share, while Deutsche garnered 11.6 percent, the Stamford, Connecticut-based research company said in March.

Galy took over in New York for Daniel Brehon, who’s moving to the bank’s London office.

Galy left Societe Generale around mid-year, people with knowledge of the matter said at the time. He had worked at the bank since January 2011. He was previously employed by BNP Paribas SA, according to data compiled by Bloomberg.

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