Merrill Lynch's Global FX Division Escapes Worst Amid Restructuring
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NEW YORK--Merrill Lynch's global foreign exchange division has escaped the worst of a series of cutbacks due to its continuing profitability amid deteriorating market conditions, says an official. However, this official says that the emerging markets operation, which has some regional currency oversight, experienced a more drastic restructuring and staff cuts.
The global FX division, which is run by John Key in London, is primarily concerned with G30 currencies, and oversees the bulk of global
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