Remember Amedeo Ferri-Ricchi? He’s the former head of EMEA FX at Deutsche Bank, who left in 2019 to become head of structured products at commodities trading firm JB Drax Honore. Both he and his team are moving on again.
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Ferri-Ricchi and his eight-person team of traders and salespeople, most of whom have been with him since the Deutsche Bank days, are understood to be moving en masse to Marex, the UK-based financial platform which raised $292m in a US IPO in April.
Ferri-Ricchi is expected to become global head of FX and interest rates at Marex, reporting to Paolo Tonucci, Marex’s head of capital markets. Marex didn’t confirm the move. Sources said Ferri-Ricchi’s team will offer a spectrum of services from FX to interest rates and commodities transactions.
During his 14-year career at Deutsche Bank, Ferri Ricchi managed a team of around 120 people and was reportedly a “top rainmaker,” generating over $100m in revenues a year. It’s thought that Ferri Ricchi’s team continued to be highly successful at JB Drax Honore, generating up to a third of trading revenues at the business in London.
After Ferri Ricchi left Deutsche Bank, he was named in court filings relating to the miss-sale of Spanish derivative products. However, his lawyer told Bloomberg that this was simply because he was the relationship manager for one of the clients involved: “He is named in the court filings because he was the client relationship manager for PHG, not because he has done anything wrong.” Bloomberg reported that Deutsche Bank had settled a €500m ($545m) claim and that the settlement was part of $200m set aside for several cases.
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