Commerzbank cuts in London

Among the departures was Behnouche Mostachfi, a senior FX options trader, the source confirmed. Another un-named options dealer, one FX sales dealer and one spot trader make up the remainder of the job losses.

Although a spokesperson for Commerzbank in London refused to confirm the names or positions of departed staff, he said the bank is in the process of cutting jobs due to a "cost-cutting offensive" at its investment bank, Commerzbank Securities.

The bank announced on November 12 that

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