Midland Bank To Close FX Desk In Australia, 40 Jobs Eliminated

- By FX Markets Staff
- @FXMarkets_
- 01 Feb 1991

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Midland Bank announced last week that it plans to close its Australian foreign exchange trading operation, which will result "in a loss of about 40 jobs," says Kyle Frazier, a bank spokesman. However, its merchant bank and interest rate management group will remain operational.

The wholly owned subsidiary, Midland Montagu Australia Ltd., had a foreign exchange trading and sales staff of 18 professionals, which included eight interbank spot traders, two forward traders, four currency options

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