Arbuthnot-Latham Bank Winds Down FX In London

Earlier this month, Arbuthnot-Latham Bank Ltd. began winding down its foreign exchange trading operation in London. The move follows a decision by the bank’s parent, British-based General Accident PLC, to sell off the bank’s remaining activities.

"The whole [foreign exchange] operation is going to be wound down over the next two to three months, depending upon how fast we can run the book down," says John Rae, a director and treasurer of Arbuthnot.

According to Rae, Arbuthnot is no longer taking