FX Week

Kleinwort Benson's Dealing Gains Increase By 59 Per Cent In 1993


Kleinwort Benson, the U.K. merchant bank, reported last week that it increased its dealing income by 59 per cent to £121 million in 1993, contributing to a doubling of overall profits to £112 million. Although Kleinwort does not report separate foreign exchange income figures, this is the first time the merchant bank has even broken out dealing income - which it did in compliance with recent European Union directives.

According to Robert Harvey, Kleinwort's foreign exchange, money markets and