BoS-Halifax to combine treasuries

PEOPLE NEWS

LONDON – UK banks Bank of Scotland and Halifax are to combine their treasury operations following their proposed merger to form HBOS, which could become effective by September 2001.

The combined treasury unit will be headquartered in London and managed by Gordon McQueen, currently Bank of Scotland’s head of treasury and finance director.

Spokespersons for Bank of Scotland and Halifax were unable to comment further on how the merger would affect the two banks’ existing FX operations.

One London

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