PaineWebber Staffs Up In N.Y., London In Scheme For Major FX Expansion


PaineWebber Financial Products Inc. is expanding its foreign exchange operation in both New York and London. After several senior appointments last fall, the group, a wholly-owned subsidiary of investment bankers PaineWebber Inc., has made a number of new hires, according to sources at the firm.

One well-informed source says PaineWebber's decision to expand in forex stemmed partly from customer demand. "About seven months ago, PaineWebber determined it would really like to develop its foreign