Jefferies merges FX operations with Faros Trading
The merger of Jeffries with foreign exchange broker Faros Trading will see Ray Kamrath take over as global head of FX at Jeffries as Faros staff prepare to move into the bank's New York office, the chief executive of Faros told FX Week.
Faros Trading is 50.1% owned by retail FX broker FXCM, which has been forced to take a $300 million loan from private equity group Leucadia National Corporations, which also owns Jeffries. The merger has raised questions about the future of existing FX staff at
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