First Chicago Corp. Closes New York FX Desk Advisors Get Job Offers, Traders Get The Boot?
BANKS
After months of speculation, First Chicago Corp. shut down its New York foreign exchange trading operation Monday, November 19. Although the bank maintains that it closed the desk in order to consolidate operations, sources inside the bank's New York office say that losses and dissension among its staff helped seal the coffin.
"It's a well known fact in the market, that the New York operation has had substantial turnover in personnel for about three years now," says one ex-First Chicago New York
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