FXHedgePool Hires from Refinitiv for Business Development Head

Peer-to-peer FX matching platform FX HedgePool has named Karen Phillips as head of business development.

Based in New York, Phillips joins from Refinitiv, where she worked for 21 years, most recently as Americas head of transaction sales and relationship management for FXall and Matching, and reports to Jay Moore, CEO and co-founder of FX HedgePool.

The firm says Phillips’ hire is part of a broader expansion of FX HedgePool, which recently closed an $8 million equity financing round. The platform has over 30 institutions now active and is accelerating its multi-product strategy starting with an FX spot matching service for the WM/R benchmark. It says this natural extension of its product offering will serve to reduce market impact, tracking error, cost transparency and operational inefficiencies for the buy-side, while sell-side providers can reduce exposures and monetize under-utilised credit lines.

“When we set out to fill this role, we were looking for a unique set of skills,” says Moore. “Few people can claim to have done so much in their career in FX as Karen, so the choice was obvious. She’s got a long history of building strong relationships and delivering product solutions to meet the ever-changing needs of both the buy- and sell-side and we couldn’t be happier to welcome her to our growing team.”

Phillips adds, “I am thrilled to be joining Jay and the amazing team at FX HedgePool and look forward to working closely with market participants to continue building innovative solutions for the FX community. I am excited to again be at an early-stage company introducing new technology and ideas to the FX market.”