WestLB loses its forex head
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Trevor Cowan, head of rates at WestLB in Düsseldorf, who oversaw the bank's FX business, left last week, the desk confirmed. It is understood that Cowan's departure was mutually agreed between himself and the German bank.
Cowan leaves following a series of restructurings at WestLB's FX business over the past year. In February, the bank shut down its FX trading desk in New York to focus on beefing up its Dusseldorf team (FX Week, February 14). At the time, the bank said the changes were made owing
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