German Banks Recruit Currency Dealers After Bumper Year In Foreign Exchange

BANKS

After strong foreign exchange trading performances in 1992, a number of German banks are seeking to strengthen their dealing room staffs. Demand is particularly marked for top spot U.S. dollar/mark traders, dealers in currency crosses, such as Deutsche Mark/yen and mark/guilder, and derivatives traders, say sources in Frankfurt.

In 1992, Commerzbank posted operating profits up 20.7 percent to DM2.2 billion, with net earnings for the year up 53 percent to DM837.8 million (FX Week, March 29). "

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