Reliable sources close to Nairametrics indicate tier one
lender Zenith Bank could earn close to N100 billion or more as gains from
derivatives and treasury bills trading in the 2018 financial year.
The bank has consistently made hefty trading income in the
last few years rising from N20 billion in 2016 to over N60 billion in the 2017
financial year.
The trading desk of the bank is headed by Michael Anyimah.
He is a 1997 graduate of Actuarial Science from the University of Lagos. He
also obtained an MBA from the same institution in 2003. In addition, he is a
CFA charter holder.
From July 2005 to March 2008, he was an FX trader with
Citigroup Nigeria. While there, he was responsible for developing foreign
exchange risk hedges for clients. He was also responsible for the active
foreign currency balance sheet management.
He joined Zenith Bank in March 2008, as the Head of Foreign
Exchange trading and Derivatives Sales and Trading. At Zenith, he manages the
FX Trading Unit which trades the G7 currencies and the Naira against the G7
currencies. G7 currencies comprise currencies of the 7 industrialized countries
namely the United States, Germany, France, Canada, Italy, Japan, and the United
Kingdom.
He also heads the unit in charge of Derivative sales and
trading, taking proprietary positions and providing hedging solutions to
clients foreign exchange and interest rate risks
Zenith Bank is currently trading at N24.20 in today’s
trading session on the Nigerian Stock Exchange, up 1.25%.
