Jefferies FX staff numbers down in London

Ben Welsh and Dan O'Sullivan go in shake-up

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Jefferies has reduced its foreign exchange staff count by 85% in London, while its heads of FX and FX trading have both left in New York, following the bank's decision to acquire currency broker Faros Trading in April, according to a source familiar with the situation.

There were 13 FX staff on the London desk before the merger whereas there are now only two traders, both in FX options. In addition, another member of staff runs the currency business for mergers and acquisitions the bank handles.

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