European banks cut in FX
NEWS
LONDON – FX divisions at European banks are feeling the pinch of the current economic downturn, as banks downsize or cut London treasury operations in order to move back to continental European headquarters.
The move is a continuation of a trend that started with the launch of the single European currency two years ago, and was exacerbated by technological advances that enabled banks to trade from one centre.
Banca Antoniana Popolare Veneta (BAPV) is one of the banks hit in the latest
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