Mansoor Mohi-uddin, UBS Group AG’s former global head of foreign-exchange strategy, and Gareth Berry, who worked with him at the Swiss bank, began new roles at two different firms in Singapore Monday.
Macquarie Bank hired Berry as a foreign-exchange and rates strategist, Nizam Idris, head of currency and fixed-income strategy at the bank, said by phone.
Bloomberg News reports that the analysts are returning to the industry at a time when traders are split on the possible timing of the Federal Reserve’s first interest-rate increase in almost a decade. Fed funds futures show a 40% probability of a rate increase when policy makers next meet in September, and a 70% chance of one by year-end.
'The biggest challenge now in the FX markets is determining when the Fed will start raising interest rates', said Mohi-uddin, who left UBS last year. The analyst, who studied under former Bank of England Monetary Policy Committee member Charles Goodhart at the London School of Economics, moved to Singapore from Zurich in 2010.
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