Standard Chartered Bank Cuts And Hires In New York Strategy Shift
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New York--UK bank Standard Chartered has cut four FX trading jobs in New York, but is creating four new sales jobs. This shift of strategy follows a 27% drop in global treasury profits at the bank in first-half 2000.
In the re-shaped operation, "multi-product" traders will focus more on the currencies of emerging economies in Asia, Latin America and Africa, backed by a drive for US corporate clients from the expanded sales team, says Standard Chartered New York treasurer Nick Wood.
"We see great
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