Manufacturers Hanover's N.Y. FX Traders Fire Back In Response To Hohorst Remarks

BANKS

A number of the foreign exchange traders at Manufacturers Hanover Trust Co. in New York took exception to comments made recently by managing director Jim Hohorst in this publication (FX Week, March 8), and were eager to tell their side of the story. The rift underlines the often delicate, if not precarious, relationship between the managers and the traders on the desk.

Hohorst told FX Week in its recent roundup of bonuses at some of the U.S. money center bank that "we had a couple of guys who