Banks continue to invest in FXPB, despite tough hiring climate

The widespread cost-reduction exercises across the banking sector initiated in recent months have cut into the foreign exchange market and caused a wave of hiring freezes and redundancies. But FX prime brokerage remains an area for investment, according to banks and recruitment experts.

Prime brokerage is becoming an increasingly competitive part of a bank's foreign exchange business because of its association with mandatory clearing and execution. Under new regulations that will require some FX