Continental Bank To Reorganize FX Departments Cutbacks, Transfers Due In Tokyo, Hurcik Says

BANKS

Continental Bank Corp. will reorganize its foreign exchange operations in London, Chicago and Tokyo along the lines of product development departments, according to Igor Hurcik, Continental's newly appointed managing director of global foreign exchange.

Rather than sticking to transaction business and position-taking, which generally constitutes the bread and butter of most FX departments, Hurcik says Continental "will be looking to do off-balance sheet transactions where value is added. You

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