FX Markets

Lasser Marshall Cuts Four Brokers In N.Y. Veterans Lopped; More Cuts Likely Soon?

BROKERS

In an effort to cut costs, Lasser Marshall Inc., one of the largest foreign exchange brokers in the U.S., reduced its staff by four last week and additional cuts are anticipated, possibly as early as this week. "The initial layoffs were supposed to include 15 [brokers] so I think the rest will come this week," says a source on the spot Deutsche mark desk.

The four brokers affected were Ed Paciello, who was with Lasser for 19 years, Jimmy Spataro, an 18-year veteran, and Ambrose Brown and Anthony

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