Midland Traders Move To HSBC, N.Y. Lockett Announces His Resignation

BANKS

The merger between Midland Bank and Hongkong & Shanghai Banking Corp. (HSBC) took another step forward this week. In fact, Midland's foreign exchange and money market traders were slated to move into HSBC's office in New York on Monday, August 10. Meanwhile, Midland suffered another casualty ahead of the merger, this time in London.

Tom Lockett, Midland Bank's high-profile, long-serving foreign exchange director in London, is to retire in one year, he confirms. His decision follows the

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