HBOS FX casualties


LONDON -- Two spot FX dealers have left HBOS in London, which formed through the merger between Halifax and Bank of Scotland (BoS) on September 10.

Billy McCartney and Martin Johnson, both from Bank of Scotland, are the only staff to leave the banks’ FX divisions, but a spokesperson for HBOS in Edinburgh would not rule out further job cuts.

The departures reflect a "duplication of resources resulting from the merger", Richard Franks, chief dealer for spot FX at HBOS in London, told FX Week.