UFJ BTM merger: cuts likely

PEOPLE NEWS

The merger, which will receive the final nod from shareholders and regulatory bodies on June 28 and 29 respectively, will see UFJ being absorbed into BTM. Forex staff from the former are likely to face an uncertain future, according to recruitment consultants.

However, Japanese sensibilities mean cuts to the forex teams are likely to take a while to filter through, said one Tokyo-based headhunter at a global recruitment firm. He said: “Eventually, I think BTM traders will stay and UFJ will go

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