Midland Bank dumped four of its seasoned veterans and hired Ken Mahaffey from Chemical Bank last week, sources close to the bank say. Pat Carr, head of Midland's proprietary desk, Karin Grapinsky, a cross rate trader, Don Hubbard, a forward trader and John Fritz, a money markets trader, were all let go last week and further changes are likely, these sources say. Though the department is clearly in flux, officials in London denied talk that Midland planned to shut down its New York desk altog

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