Steve Bassi resigned from First Chicago last week, where he was head of spot FX trading in London. An official confirms his departure, but declines to comment further. A bank source says that despite rampant market speculation surrounding Bassi's departure, he was always the "consummate professional", and that the bank regretfully accepted his resignation. Bassi could not be reached for comment by press time and his whereabouts could not be determined.

James Bovery has joined WestLB in New

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