FX Analysis Booms As Banks Compete In Shrinking Market

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NEW YORK -- Lehman Brothers and JP Morgan Chase both hired senior analysis personnel last week -- continuing a recent trend in banks to invest heavily in FX research.

Lehman Brothers has secured the services of James McCormick, who becomes deputy head of foreign exchange research. McCormick joins the bank from JP Morgan Chase, where he spent eight years working in the forex analysis group. His final position at JP Morgan was as senior G10 strategist in New York.

At Lehman, McCormick, based in

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