West Coast Banks Face Extra Personnel Hurdle Traders Shy From Land Of Limited Opportunities

BANKS

Banks on the West Coast are finding it increasingly difficult to attract talented traders and are having to up the ante in order to lure them away from New York, West Coast bank officials and recruiters there say. While many of those who made the move have few regrets, the limited number of banks with active foreign exchange departments has kept traders away.

"At this point in time, the West Coast doesn't look like the land of opportunity that it did seven years ago," says an executive

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