FX Week

BNY’s Jainu-Deen Resigns; Successor To Be Named

BANKS

The London branch of the Bank of New York (BNY) recently lost the head of its spot trading operation, Raschid Jainu-Deen. Although Jainu-Deen resigned several weeks ago, a successor has yet to be named and several sources inside the bank say his replacement will probably come from within the organization.

According to a number of sources at the bank, Jainu-Deen resigned from the bank "after a sizable Sterling position he had went sour," as one source at the bank put it. Although the size of t