Fleet To Keep Half Of NatWest USA Forex Team With Bent Towards Sales

BANKS

In keeping with its focus on middle market and retail sector business, Fleet Financial's acquisition of NatWest USA in Jersey City is unfolding much as it did when the regional bank acquired Shawmut Bank last year, sources say (FXW, December 18). According to sources close to NatWest, Fleet is keeping half of the roughly 15 forex staff, while the rest will be let go by May 3.

Fleet has its main trading operation in Boston, although it is a Rhode Island-based bank holding company. The NatWest