Barclays Reports Stellar 1997 Results Amid Restructuring Of Forex Division

BANKS

LONDON--Barclays Capital Group (BCG) reports an 86 per cent increase in its annual FX and commodities dealing profits for 1997 to £132 million ($217.8 million), an improvement that chief executive Robert Diamond attributes to global head of FX Paul Thrush, who joined the bank in November 1996 (FXW, November 18, 1996).

Meanwhile, Lloyds TSB reports a 5 per cent decline in FX profits, to £105 million ($173.3 million) in 1997 from £110 million ($188 million) the year prior. The remaining three