First Chicago Reduces Global FX Staff Cutting 25 Dealers In Chicago & London
BANKS
First Chicago last week cut 25 dealers between its Chicago and London offices as part of a reduction over the past month that has now shed a total of 35 positions globally, says global FX manager Peter Mesrobian.
The cuts are mainly on the spot and forward trading sides and are part of the bank's efforts to "rationalize excess trading capacity" due to enhanced technology and systems, says Mesrobian. Mesrobian says that beyond the 25 cut last week, the other 10 or so were scattered throughout the
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