Money is Said Culprit Behind Mass Exodus Of Foreign Exchange Desks

BANKS

The relatively recent phenomenon, whereby some of the foreign exchange industry's prominent foreign exchange desks have decamped to rival organisations, is being driven by, what else? MONEY.

Industry sources, from global foreign exchange chiefs to head hunters, say the massive desk moves seen so far this year are occurring because, as one head hunter in New York puts it, FX desks are doing "so poorly that nobody's going to be making any money on their bonuses this year."

Hardest hit has been