Smith Barney To Trade FX In N.Y. July Start Eyed, Traders Wanted
NON-BANKS
Smith Barney, Harris Upham & Co. is setting up a foreign exchange trading desk in New York, which it hopes will be fully operational by July, sources there say. Smith Barney has hired Jim Mulvey to head up the operation and plans to add four or five more traders to complete the desk. Mulvey was formerly assistant treasurer at Kidder, Peabody & Co.
Although Smith Barney only plans to trade foreign exchange on an agency basis initially, which will allow it to trade in the interbank market without
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