First Union National Bank Expands In Foreign Exchange, Derivatives

BANKS

First Union Bank of North Carolina has recruited two derivatives professionals to lead the bank's push to gain a bigger piece of the Southeast U.S. market. The Charlotte-based bank has been expanding its foreign exchange operation over the past six months, and this latest effort taps into the currency market accordingly.

The two-man derivatives operation plans to begin operating February 15. The bank hopes the group will be expanded to six or 10 staff by summer.

First Union set the group in

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