Shawmut Bank Consolidates FX; Moves Connecticut Desk To Boston
BANKS
Shawmut Bank is consolidating its two Northeast foreign exchange trading desks into one, which will be located at its Boston office. Although the move scales back the number of traders, officials say the bank actually plans to expand its FX operation once the restructuring settles.
Shawmut National Corp. currently operates two banks, Shawmut Bank N.A., Massachusetts and Shawmut Bank, Connecticut. The Hartford trading room was acquired when Shawmut bought Connecticut National Bank in 1988.
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