SEB switches on to FXPB
LONDON - SEB is re-positioning its foreign exchange prime brokerage (FXPB) business under new chief, and former London-based European head of FX prime brokerage at AIG, Mark McDonnell, to capitalise on counterparty risk fears.
SEB becomes the latest dealer to refocus resources towards the FXPB business, taking advantage of a gap left by the fall of former heavyweights AIG and Lehman Brothers last autumn (FX Week, September 22). Earlier this month, it emerged that BNP Paribas is recruiting a
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