Two Traders Snatched From Chemical Quit CIBC London After 11 Months

BANKS

Forex trading manager Peter Scott and chief cable dealer Patrick Hall resigned from Canadian Imperial Bank of Commerce (CIBC) in London last week, bank officials confirm. Both had been recruited from Chemical Bank's London branch less than a year ago by treasury director Michael Cornford, who himself was previously a Chemical managing director (FX Week, March 15). The defections came as a surprise to many in the market after the bank's highly publicized efforts to raise its profile in London