Banque Worms Cuts U.K. Forex Desk Franc Forward Pricing Back To Paris
BANKS
Paris-based Banque Worms, plagued with large real estate loan losses at home, last week elected to cut costs by reducing staff and activities across the board at its London branch--including the foreign exchange desk, according to chief dealer D.G. James.
Although only a medium-sized bank, Worms has a number of international branches, including respectable dealing rooms in New York, Hong Kong, Singapore and Geneva as well as London. James says the "restructuring" of the London branch has meant
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