Chemical To Close Geneva Unit To End Its Swiss FX Operations
BANKS
Chemical Banking Corp. said it will close its Geneva banking subsidiary, probably by the end of the year. This involves closing down its foreign exchange business in Switzerland.
Francois Larsen, managing director of Chemical Bank (Suisse) SA, said that his bank employed five dealers who were mostly involved in proprietary trading or dealing in derivative products. He said he didn't expect his dealers to have a problem finding jobs elsewhere.
Last year, Chemical Bank closed its foreign exchange
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