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Chemical Bank lost Varick Martin, the head of its corporate desk in New York, to National Westminster, sources at Chemical confirm. Martin, who left Chemical Wednesday, couldn't be reached for comment by press time. Interestingly, NatWest snagged David Reason, the head of Chemical's corporate desk in London, earlier this year (FX Week, June 5).

Paul LoFreddo, who left Bank of America, New York two weeks ago (FX Week, July 27) is set to join Dresdner Bank in New York later this month, sources

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