Remember Chris De Sibert? He's the former managing director and head of foreign exchange and commodities sales to banks in Europe, the Middle East and Africa at HSBC, who joined R5FX, a currency trading platform focused on emerging markets FX last September. Guess what? He's quit fintech and returned to the banking fold.
De Sibert's LinkedIn page shows that he's recently joined RBS as a director in institutional FX sales focusing on French speaking Asset Managers and Bank ALM desks. Given that De Sibert was an MD at HSBC, the new role seems like something of a step down.
Based a fashionable-sounding studio at a Metal Box Factory in the London district of Southwark, R5FX aims to offer a new electronic marketplace for emerging market foreign exchange (EMFX) and electronic non-deliverable forwards. De Sibert was the global head of business development.
This isn't the first time he's worked for RBS. Between 1999 and 2004, De Sibert was director of FX sales at the bank. His long career in finance, which began in 1993, has also spanned Bank of America Merrill Lynch and UBS.
It's not clear why De Sibert has decided to jettison his fledgling fintech career so soon, but his return to banking below MD level could be read as a warning to other markets professionals contemplating something more exciting instead.
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