Exco Executives Look Ahead With Ownership Sorted Out


The sale of some 27 percent of Exco to Caledonia Investments (FX Week, June 5) comes as a great relief to the firm's chairman Richard Lacy. "We are very pleased that the matter has been resolved," he says. "It has occupied a lot of management time in the past two years." Now that the money broker is now longer chiefly in the hands of administrators--which it has been ever since its parent, British and Commonwealth, went under in 1990-- means that management can refocus attention on the busin