Merrill Reshuffles Global FX Management Eyes Full Service FX Operation In Tokyo
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Merrill Lynch International Bank restructured its global foreign exchange management team last week, sources at the firm say. Those changes were sparked by expectations that Merrill will soon be granted a banking license by the Japanese Ministry of Finance that will essentially clear the path for it to engage in a full array of foreign exchange trading activities in Tokyo.
"They've received our application and we're hopeful that we'll have the license by the end of the summer," says Joe Petri
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