Deutsche Bank has waved goodbye to its Head of Electronic Forex Trading as he heads into retirement.
According to Der Spiegel, a news source based in the firm’s native Germany, a spokeswoman at the bank had explained that Robert Mandeno had left the company. “He chose to retire months ago,” she said, however no further comment was proffered.
Mr. Mendeno’s departure represents the second senior executive leaving the German bank’s FX division, as Global Head of FX trading Kevin Rodgers announced he will leave this June in order to pursue his personal interests.
Mr. Mandeno had recently held the position of Head of Markets Electronic Trading for Asia-Pacific in New Zealand, before relocating back to London last year, concluding two years in New Zealand. He began his new role as Global Head of Markets Electronic Trading in February 2013, taking over from Zar Amrolia, who went on to co-head the bank’s fixed income and currencies division with New York-based Wayne Felson.
The decision to leave of their own accord by two key officials of one of the world’s largest FX dealers comes at a time when authorities in Britain, United States, Asia and Europe are investigating whether traders in about 15 major banks conspired to manipulate benchmark forex rates by exchanging sensitive client orders.