Madrid a magnet for FX
NEWS
The decision to downscale or completely move FX desks and treasury offices out of Spain in the past seriously affected client relationships, said Javier Alario, head of FX sales and risk management at HSBC in Madrid. Alario said as a result, banks are now deciding to add to their teams in Spain to help build relationships.
"Historically, lots of Spain-based banks moved their FX business out to bigger financial centres like Paris, Frankfurt and London," he said. "London was a popular choice for
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