Forex unhurt as ING cuts in New York

Although the spokesperson could not confirm the total number of departures from New York, recruitment sources in the city said it could have been more than 200 -- one third of the bank’s headcount in wholesale banking in New York.

A source close to the bank in the centre said the FX, interest rates, financial markets and derivatives group is a very strong business. "It’s a great platform, a very strong product," said the source.

That leaves the equities and corporate finance divisions as the b