| LONDON, April 29
LONDON, April 29 Royal Bank of Scotland's
head of foreign exchange trading in Europe, James
Pearson, is taking a five-month sabbatical, leading to a
temporary restructuring of the bank's forex desk, RBS said on
"He is taking a sabbatical for entirely personal reasons.
This is in no way linked to any investigation," an RBS
spokeswoman told Reuters.
RBS is among several major banks assisting regulators around
the world who are investigating allegations of collusion and
price-rigging in the global currency market, by far the world's
largest financial marketplace.
Pearson was part of a group of chief dealers in London who
met up to four times a year with senior Bank of England
officials to discuss the main issues and events affecting the
currency market until those meetings were discontinued last
Pearson could not be reached immediately for comment. He was
still listed as "active" on the Financial Conduct Authority's
register of approved individuals.
London is the hub of the global foreign exchange market,
accounting for around 40 percent of the $5.3 trillion-a-day
RBS is the seventh-largest foreign-exchange trading bank in
the world, according to Euromoney magazine, seeing almost 6
percent of the daily global flow. It has suspended three traders
in London as part of its investigations.
Pearson's responsibilities will be shared among three
employees on the foreign-exchange desk in addition to their
current roles, RBS said.
Damon Reynolds will run the voice cash and NDF business for
Europe Middle East and Africa, Simon Manwaring will take on
technology-based trading and Scott McMunn will take on the role
of head of EMEA currency trading.
(Reporting by Jamie McGeever; Editing by Erica Billingham)