CIBC Cuts Nine In New York In Further Restructuring Move
BANKS
CIBC Wood Gundy has cut nine traders and sales staff in New York and created a global trading and sales group in Toronto, integrating its international and Canadian dollar forex businesses, officials say.
In addition to the five job losses from its London spot desk a week earlier, CIBC chopped the nine trading and sales positions in New York last Thursday, which sources say are primarily from the spot desk. One source claims the bank has let go the entire spot desk and will run its global book
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