Nomura Taps Ex-Standard Chartered Exec as Head of Electronic FX

What Does Nomura’s Appointment Signal?

Nomura has appointed Mark McMillan as global head of electronic foreign platform, strengthening its push to expand electronic trading across FX and emerging markets. The appointment places trading, sales, quantitative research and strategy for electronic FX under a single global leader, reflecting how tightly linked those functions have become in modern currency markets.

McMillan will be based in London and reports into Nomura’s global markets leadership. According to an internal memo viewn by The TRADE, the bank views the hire as part of a broader effort to scale its electronic FX platform and sharpen its competitive edge in increasingly automated markets.

In the memo, David Leigh, head of global FX and emerging markets, and Matthew Hampson, co-head of Nomura’s global markets digital office, described the timing as favourable for the bank’s FX business. “We are viewing strong franchise growth,” they wrote, pointing to ongoing investment in the electronic platform and confidence in its trajectory.

Investor Takeaway

Why Is Electronic FX Leadership Changing?

Competition increasingly centres on latency, algorithmic execution, data-driven pricing and how smoothly trading tools integrate into client workflows. As a result, senior roles that combine commercial, quantitative and technological oversight have become more common.

By consolidating responsibility for trading, sales and quant strategy, Nomura appears to be prioritising quicker decision-making and closer alignment between client needs and platform development. In electronic FX, product iteration cycles are short, and fragmented leadership structures can sluggish down improvements in execution and analytics.

The move also reflects broader pressure on FX desks to deliver scalable revenue without relying on directional risk-taking. Electronic platforms allow banks to handle higher volumes at lower marginal cost, but only if pricing, execution logic and client connectivity are tightly coordinated.

How Does McMillan’s Background Fit the Role?

McMillan brings more than a decade of experience across electronic trading, quantitative research and data-focused roles. He joined Standard Chartered in 2014 as an executive director in electronic FX trading and later moved through positions covering algorithmic trading, quant research, product management and analytics.

His most recent role at Standard Chartered focused on markets product management and data, placing him at the intersection of client delivery and trading performance. That blend of skills is increasingly valued in electronic markets, where banks are viewking to extract more value from and automation.

Before Standard Chartered, McMillan spent over four years at HSBC as an electronic FX quantitative analyst and trader, where he was involved in building the bank’s eFX quant capability. Earlier experience at Dresdner Kleinwort adds exposure to a period when European investment banks were rapidly expanding electronic .

How Does This Fit Nomura’s Broader Strategy?

The appointment sits alongside wider changes in Nomura’s . David Leigh, who overviews FX and emerging markets, previously held senior FX roles at Deutsche Bank during a period when electronic execution became central to that franchise. Matthew Hampson has been closely involved in Nomura’s digital markets initiatives, including efforts to industrialise electronic trading across multiple asset classes.

The hire also comes against a backdrop of strategic expansion elsewhere in the group. In late 2025, Nomura completed its acquisition of Macquarie’s US and European public business, a deal designed to deepen overseas revenue and broaden its asset and wealth management footprint. A larger international client base typically increases demand for efficient FX execution and hedging, particularly in liquid currencies.

Electronic FX platforms play a key role in meeting those needs, offering consistent pricing and scalable execution as volumes rise. Strengthening leadership in this area supports Nomura’s ability to service growing cross-border flows without a proportional increase in risk or cost.