Trading places

"We’re reviewing all our trading activities to streamline and co-ordinate our branches," he said, adding that the reorganisation would be focused on the bank’s European operations and would see a break from the existing regional focus. "We want to ensure co-ordination between our headquarters in Munich and with London," he said.

Meanwhile, the bank has not yet replaced London-based head of FX options, Trevor Carr, who left to join HBOS Treasury Services in London last month (FX Week, October