Sec Pac FX Traders In London Await Word; No Changes Likely?
BANKS
Employees at Security Pacific National Bank’s London forex operation have been left hanging, awaiting word on their fate in the wake of last week’s announcement that Sec Pac will disband its merchant bank, cut back overseas operations, and fire some 1,400 employees in the process.
Although Robert Smith, chairman of the California-based bank told reporters December 10 that the London operations would be reduced to a few corporate loan officers, the news came as a surprise to London staffers--and
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