Welsh uprising at UniCredit

LONDON - Ben Welsh quit his job as co-head of fixed income, currencies and commodities (FICC) at UniCredit last week (April 8), over a possible lack of future remuneration, market sources have told FX Week .

One source at the bank in London said Welsh's departure was prompted by an internal announcement at the bank last week that revealed investment banking employees would not be receiving bonuses for 2009. This is coupled with the recent announcement that UniCredit would not be paying

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