SocGen Overhauls Management In Forex As Revenues Plummet
FRONT PAGE NEWS
PARIS--Société Générale has overhauled its management in FX as the group announces a massive drop in revenues from its debt, currencies and commodities division.
The 95 per cent fall in revenues for first-half of 2000 took the division’s earnings to a low of just E7 million--down from E149 million for first half 1999.
Paul Wiltshire, the new treasury manager in London, says the huge drop in earnings for the group is due to an accounting reallocation, rather than any trading losses.
The French
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