NatWest Rejigs London Forex Management, Plans Major Expansion In Frankfurt And Asia

BANKS

National Westminster Bank has reorganised its London trading room in the wake of global foreign exchange chief Michael Cornford's sudden departure this summer (FX Week, August 1). U.K. and European treasury director Paul Winchester says he has taken on more day-to-day responsibility for FX in London and divided the chief trader's job into two parts, one risk-management-oriented spot chief position and a business management job.

As previously reported, NatWest has decided not to replace Cornfo