Donaldson, Lufkin & Jenrette Establishes FX Operation In London

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LONDON--US investment bank Donaldson, Lufkin & Jenrette (DLJ), undeterred by the recent withdrawal of many banks from currency trading in London, is setting up a full-service forex trading and sales unit in the centre.

The group plans to offer a complete range of spot, forwards, options and emerging markets coverage from the City from the end of November, to add to the existing sales team of three, Ken Gettinger, DLJ's global head of foreign exchange in New York, told FX Week. The bank only e