Commerzbank "exits London"

Market sources told FX Week that the financial institution sales team, corporate sales team and trading team are to be discarded, with all FX trading and sales to be run out of Frankfurt. The move follows the announcement earlier this month that the bank is shifting the emphasis of its business to Frankfurt from London in a bid to improve profitability.

The entire FX sales team in London will leave the bank as a result of the move, as will the trading team in London and New York. Nozar Husse