Deutsche Morgan Grenfell Concentrates FX In Four Major Trading Hubs From January

BANKS

Deutsche Morgan Grenfell will concentrate nearly all its interbank foreign exchange trading in London, New York, Frankfurt and Singapore from January 1, as part of a major reorganisation of the bank's 450-strong trading staff worldwide, according to head of global foreign exchange Michael deSa.

FX trading will cease completely in Dusseldorf, Hamburg and Berlin by the end of the year, he says. In the offices outside Germany trading will continue in the local currency against the dollar and th

To continue reading...