FX Week

Exco Bosses Take Pay Cuts As FX Broking Profits Dive

BROKERS

Directors of the foreign exchange and money broking group Exco International have taken pay cuts of 30 per cent after reporting a collapse in pre-tax profits from £43.5 million in 1994 to £18.2 million last year (FXW, March 18).

The crisis first became apparent in September when Exco said foreign exchange had been "barely profitable" in the first half of the year and announced £15 million worth of cost reductions (FXW, September 18) .

This was followed in November by a further round of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.fxweek.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: