Royal Bank of Canada hires new London MD for global Forex execution

Bloomberg’s Doug Alexander reported today that Royal Bank of Canada (NYSE:RY), the largest financial institution in Canada has hired Matthieu Herbeau from BNP Paribas as global head of Forex execution for its RBC Investor and Treasury Services unit.

Mr. Herbeau will be a managing director in London, the Toronto based bank told Bloomberg Monday by e-mail. He will lead forex business strategy and report to Elaine Skinner-Reid, Europe and Asia Pacific head in the unit’s treasury and market services group, and Chris Seip, global head of that business.

Herbeau spent 15 years at Paris-based BNP Paribas, most recently as global head of foreign exchange, according to the statement. He earlier worked at KBC Bank NV and JPMorgan Chase & Co., according to his LinkedIn profile.

RBC Investor & Treasury Services offers traders, investors and investment managers custom forex services that allows clients to focus on their primary investment decisions without concerning themselves with FX arrangements or cash-flow management.

As part of RBC’s range of FX services, clients have access to a 24-hour operation through RBC Investor & Treasury Services’ trading desks in Toronto, London, Luxembourg, Hong Kong and Sydney.

To see RBC’s report which examines the in-house vs. outsourced question for FX management and put forward some key points to consider when selecting a foreign exchange service provider, click here.

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