ING Barings Pares Down In NY Following Closure Of LA Division

BANKS

NEW YORK--ING Barings has pared down its FX operation, letting go four of its FX staff in New York and one in London, as part of a "general pruning of the FX operation in conjunction with the overall refocusing of our business", according to a bank spokesperson.

Officials at ING in New York say the cuts were related to the decision made two weeks ago to close the bank's Latin American emerging markets research division, which resulted in 200 staff cuts. Most of these jobs were in equity resea