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 mo

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