S.G. Warburg Opens New York Subsidiary To Trade Forex In U.S.
NON-BANKS
London-based merchant bank S.G. Warburg is opening a subsidiary foreign exchange division in New York, S.G. Warburg Forex, and has named Lou Leone to head the business, officials say. The New York group will serve as the third link in offering global, 24-hour coverage to Warburg FX customers, says Leone. It should be operational in mid-October, he says.
"The New York operation is designed to complement, not only our proprietary trading, but also services that we provide to the rest of the group
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