Garban And Icap's FX Teams Set To Survive Merger Intact
BROKERS
"There will effectively be no change at all," says the spokesperson, noting that Garban manages the greater part of the combined FX business anyway. The lack of duplication across the two FX broking teams will make the marriage relatively harmonious.
Garban's spot and forward FX operations, and Icap's FX options team will retain their existing structures and staff, unaffected by the 10-20 per cent staff cutbacks forecast for the overall group by Icap's chairman Michael Spencer, when the merger
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