US banks in management shake-up
Joel Holmes, chief foreign exchange dealer at Lehman Brothers in New York, resigned on Monday (January 7) after three years at the bank. Holmes joined the US investment bank in May 2004 from Deutsche Bank, where he spent a year as a senior dollar/yen trader based in New York (FX Week, April 4, 2004). Before that, he was at Merrill Lynch, where he also traded yen (FX Week, May 26, 2003). It is likely Holmes agreed a bonus payout before resigning, although his future plans are unknown.
Meanwhile
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