Exclusive: Molten Markets founder Francisco Heredia joins State Street as MD of Global Link

Francisco Heredia State Street

LeapRate Exclusive… He’s back in the FX game again.

After more than two years out of the business, LeapRate has learned that seasoned FX industry executive Francisco Heredia has joined State Street Corp (NYSE:STT), as a Managing Director with State Street’s Global Link trading services in Boston.

Global Link, or more formally State Street Global Markets, provides specialized investment research and trading in foreign exchange, equities, fixed income and derivatives.

We understand that Francisco Heredia’s actual role at Global Link is still to be determined, but we would imagine that he will be involved in senior decision making at the company, especially with regards to its FX business. State Street also owns FX liquidity provider Currenex.

Francisco Heredia was a co-founder of Molten Markets, a Forex technology provider for asset managers and pension funds. Molten Markets was acquired in late 2015 by EBS Brokertec, now known as the NEX Markets unit of NEX Group PLC (LON:NXG). Mr. Heredia’s co-founder at Molten Markets, Simon Wilson-Taylor, remained at EBS and still today heads the company’s institutional business at NEX. Mr. Heredia, however, left the company soon after the acquisition.

This actually marks a return of sorts for Francisco Heredia to State Street, where he worked for nearly 10 years from 1999-2009 as a Vice President at Global Link. After a brief stint at UBS he set up Molten Markets in 2011 with his former State Street colleague Wilson-Taylor.

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