Citibank Shifts Frankfurt FX Trading To London In Globalization Drive

BANKS

Citibank is continuing its globalization and consolidation drive in FX by closing down its interbank trading desk in Frankfurt and transferring its operations to London from September 1, officials confirm. However, Citi Frankfurt's FX sales operation remains intact, reporting to global sales chief Martin Dyer.

According to UK FX chief Richard Moore, it is too early to say exactly what will happen to the roughly 10 Frankfurt interbank traders, including chief dealer Joe Licci, or whether Citi

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