ABSA Bank Starts FX Desk In NY And Plans Restructuring In UK
BANKS
South Africa's ABSA Bank has started a new forex operation in New York under recently recruited Kai Herbert. The bank is also restructuring its London office and last week hired Tony Coveney from Lazard Brothers as the new assistant general manager for treasury.
Herbert, who joined on August 1, says he is setting up the bank's trading capabilities in New York and the desk should be ready for business by October 1. Meanwhile, Coveney says it is premature to speak of plans for the London office
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