Bank Of America Cuts London FX Trading In Continuation Of Restructuring Process

BANKS

The restructuring at Bank of America (BofA) continues, with last week's cut of as many as 12 foreign exchange traders in London, according to sources. The bank officially says 30 dealers were shed from four areas: foreign exchange, treasury (money markets); central strategic trading; and financial engineering and risk management.

An official says all the cuts were confined to the global capital markets group in London and that FX was hit harder than the other areas. The official declines to

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