Daiwa Securities Shuts Down London FX Trading Operation
FRONT PAGE NEWS
LONDON--Daiwa Securities Trust & Banking closed its London foreign exchange trading operation last week, with the loss of 22 staff.
The entire eleven-strong trading team, which covered forex and proprietary trading, left the bank last Monday (July 31). The other 11 redundancies were in support roles.
Head of treasury Tony Cox was among the casualties, says deputy chief executive, Mike Gray. The bank will not confirm names of the other ten FX traders.
The bank has decided to stop foreign exchange
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