Deutsche FX Head to Retire
Posted by Colin Lambert. Last updated: April 13, 2023
Change is imminent at the top of the FX business at Deutsche Bank, The Full FX understands, with Russell LaScala, global head of FX, set to retire.
LaScala has been with Deutsche Bank since 2003, when he joined from Citi, and has worked in New York, Asia, and, as global head of FX, most recently, London. He was appointed co-global head of FX with Jonathan Tinker in 2017, and took on sole control of the business when Tinker left in 2021.
LaScala has been at the helm of Deutsche through one of its most tempestuous times with the bank’s poor credit rating impacting the FX unit’s ability to compete for business, however the past two years have seen the bank recover both in the credit ratings area and in the FX market, culminating with it winning the prestigious Euromoney award in 2022.
LaScala is believed to be moving back to the US, and sources say Singapore-based Sameen Farooqui, currently head of emerging markets, and Chris Leonard, head of Rates trading and sales in the US, are stepping up in addition to their existing roles.