Marex Spectron, the commodity and derivatives brokerage backed by several former Lehman Brothers executives, has continued the build out of its growing FX franchise with the hire of a head of algorithmic FX trading.

Sam Horowitz, previously a senior algorithmic FX trader at Lloyds Bank, has been lured to Marex to head algorithmic execution for the broker. Horowitz will focus on re-engineering Marex's electronic FX solutions in line with the overall electronic strategy of the firm, a spokesman said, with a specific focus on the intelligent risk management of the group's FX flows.