NationsBank Cuts FX Trading Staff In London & Singapore
BANKS
NationsBank cut its foreign exchange teams in London and Singapore by roughly half last week, sources say, effectively reversing its actions of the past couple of years, which have focused on a build-up of its global capabilities.
Sources say NationsBank is de-emphasizing market making in those centres and will focus instead on customer business, making Chicago a 24-hour operation. However, a spokesperson in Charlotte, North Carolina says the bank continues to have a trading presence in those
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