Two northern Italian banks have both opened foreign exchange desks in London in the last few weeks: Cassa Risparmio di Verona October 26 and Banca Ambrosiano Veneto earlier in the month. Officials at Cassa di Verona refused comment. As expected (FX Week, August 17), Ambrosiano started up with a small team dealing chiefly in lire and lire crosses for its Italian corporate customers. But instead of a five-strong team, the bank has so far only four on board and for the moment, it has elected

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