First Chicago Prunes London Team With Focus On Advisory Business

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LONDON--First Chicago has eliminated 12 FX positions from its London operation as part of a strategic overhaul aimed at refocusing the business on advisory client relationships, confirms Peter Mesrobian, global head of FX.

Among those who left the bank last week was Mel Mayne, European FX trading and sales manager, Mesrobian confirms.

"Mel worked with me on the new strategy but has decided not to stay with the bank," Mesrobian says. "He is currently considering other options."

The move follows

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