Wells Fargo Hires Currency Strategist Viloria Formerly of Gain

Wells Fargo & Co. hired Eric Viloria, previously a senior currency strategist at Gain Capital Group LLC, the company said in an e-mail.

Viloria began with Wells Fargo in December as vice president, currency strategist, and is based in New York. He reports to Nick Bennenbroek, the head of currency strategy at Wells Fargo.

“Eric’s hire will support more comprehensive coverage of Group of 10 and emerging currencies for Wells Fargo’s foreign-exchange clients,” Bennenbroek wrote.

Wells Fargo was the second-best forecaster for the euro-franc pair in the fourth quarter of 2013, according to data compiled by Bloomberg, and was third in picking the U.S. dollar-Taiwan dollar.

Argentina’s peso and South Africa’s rand have fallen 19 percent and 6.3 percent this year, leading a rout in emerging-market currencies. Assets of developing countries have been battered amid signs of slower Chinese economic growth and turmoil in its shadow-banking system. Last month, the Federal Reserve began reducing its bond-buying stimulus program that has boosted prices of assets around the globe.

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Eric Write head editor and chief at The Pluto Daily