Shearson, Buoyed By Amex, Courts Institutional FX Business


American Express Co.'s decision to purchase all the remaining shares of Shearson Lehman Hutton Inc. has given its institutional foreign exchange department new hope.

"I think [the acquisition] gives some clients who were a little bit leery of dealing with Shearson, a lot more confidence in dealing with us [now]," says George Miragaya, a first vice president and head of institutional foreign exchange sales, which includes corporations, international fund managers and central banks.


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