HBOS sheds London staff

The departures last Wednesday (January 8) of Peter Davey, head of FX sales and Richard Franks, head of spot FX, have removed a "management layer", enabling the bank to manage FX as one desk, said the spokesperson. FX sales dealer Mark Cooper was the third departing staff member.

"As the FX business continues to grow we want our technology to do most of the work, leaving our people more time to manage our risk and service our customers," said the spokesperson.

As part of the reorganisation, FX

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