PIPS
PIPS
Daiwa Securities has announced a restructuring of its overseas operations in an effort to concentrate on its core businesses in Japan. The move will include the dismantling of the firm's FX brokerage business in London, New York and Hong Kong. The decision to wind down the FX division comes ahead of a strategic alliance with Sumitomo Bank, due to take place next year. Daiwa's New York team is already much depleted following the recent move of eight FX staff to Royal Bank of Canada (FXW
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