Standard Chartered Bank Cuts And Hires In New York Strategy Shift

- By FX Markets Staff
- @FXMarkets_
- 30 Oct 2000

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New York--UK bank Standard Chartered has cut four FX trading jobs in New York, but is creating four new sales jobs. This shift of strategy follows a 27% drop in global treasury profits at the bank in first-half 2000.

In the re-shaped operation, "multi-product" traders will focus more on the currencies of emerging economies in Asia, Latin America and Africa, backed by a drive for US corporate clients from the expanded sales team, says Standard Chartered New York treasurer Nick Wood.

"We see great

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