BPA Shifts Trading From London To Headquarters In Portugal
BANKS
Banco Portugues do Atlantico (BPA) is shifting its London-based interbank forex and money markets trading operations to Lisbon, as part of the bank's plans to centralize its European trading, says Manuel Costa, general manager in London.
The decision is due to the advent of the planned single European currency slated for 1999, says Costa. "The anticipated loss of the bank's niche product, the Portuguese escudo, meant BPA had to restructure its trading operations globally," he says.
Costa says the
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