Banco Ambrosiano Veneto Set To Open London Desk
BANKS
Banco Ambrosiano Veneto (BAV) plans to open a London branch in October that will include a foreign exchange trading desk with a staff of five, say bank officials. The new desk will trade primarily spot and forward lire and lire crosses, with some FRA and money market activity as well, says a BAV spokesman.
The bank, the largest in Italy without any state ownership, has already recruited two traders, John Stafford, the new London treasurer and Doug Cormack, says a spokesman. It is currently
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