Commerzbank Centralizes German Sales While First Half Forex Results Decline
BANKS
Commerzbank is centralizing its sales effort in Germany into three centres, closing down its sales desks in Berlin and Munich. The move is part an effort to improve efficiency and control costs in the bank's FX group that has helped keep first half results for the group ahead of 1995, despite a year-on-year decline in own-account trading for the half, according to Alfred Schorno, global foreign exchange chief for the bank.
Commerz reports DM62 million in own-account income from own-account
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