Noonan Closes FX Brokerage Operation In L.A. Lack Of Trading Cited, FX Brokers Feel Pinch
BROKERS
Noonan Astley & Pearce Inc. shut down its four-man foreign exchange brokerage operation in Los Angeles recently, sources there say. Noonan has chosen to consolidate its foreign exchange brokerage operation in New York instead, but will keep its money market operation in L.A. open.
"There wasn't much business going on in Los Angeles in foreign exchange," says Peter Rotundo, an executive vice president and head of foreign exchange at Noonan, who confirmed the report. In addition, those banks that
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