FX Week

Mellon Exits London Interbank FX Market But Leaves Corporate Advisory Team Intact


In an attempt to redefine its role in the European foreign exchange market, Pittsburgh-based Mellon Bank closed its interbank foreign exchange trading desk in London last week, but left its two-man corporate advisory team intact.

"We did not see, given present market conditions, that foreign exchange trading [in London] would be a significant contributor to profits at the bank," says John O’Driscoll, a general manager at the London branch.

Those affected by the decision were its treasurer,

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: