Bank Of America Merger With Continental Raises Questions On Fate Of FX Desks
BANKS
Officials at Bank of America (BofA) and Continental Bank say no decisions have yet been made about the future of their trading activities following the merger announced a week ago. Some market sources suggest that BofA could move its FX desk to Chicago along with the planned shift of its wholesale banking headquarters from San Francisco, but others argue against that. The transaction is slated to close in July.
Says Ken Cunningham, Continental's managing director in charge of financial risk
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