Daiwa Bank Closes Down Trading Of Interbank Spot In London
BANKS
Daiwa Bank has closed its interbank spot trading desk in London, bank officials confirm. The bank made redundant its dealing team of four, chief dealer Richard Burrows, assistant chief dealer Dave Cassetari, senior spot dealer Keith Nicoll and spot dealer Steve Tatum. So far, only Cassetari has resurfaced, joining Bayerische Hypotheken-und-Wechsel Bank (Hypo Bank) in London as a spot yen dealer, a Hypo executive confirms.
"We decided to pull out of speculative business and market-making in London
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