Anglo Irish winds down FX desk

A hammer about to smash a piggy bank

Anglo Irish Bank is expected to shut down its foreign exchange desk over the next three to six months, as part of restructuring efforts, according to sources close to the UK-based firm.

Anglo Irish's corporate treasury team works with companies in a wide variety of industry sectors, offering spot FX rates on most currency pairs and settling FX transactions on a same-day basis, according to the bank's marketing. But the FX team has diminished in size over recent years, as it suffered heavily

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