ACM expands in Middle East

NEWS

The office, opened on August 1, is intended to strengthen ACM-Refco's position in the Middle East, and is the firm's representative office abroad.

Ramzi Chamat and Saber Daboussi, both from the company's Geneva head office, will manage the new office. The firm has also added five more members of staff, which increases the number of employees to 52.

Middle-Eastern clients represent, so far, 15% of the monthly volume traded on the dealing platform and Nicholas Bang, Geneva-based executive director

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Mixed forecast for FX

LONDON - Foreign exchange teams will avoid the worst of the job cuts in the City of London, although market sources warn no-one will be immune from redundancies.

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