Credit Agricole Reduces London FX, Money Market Trading Staff
BANKS
Last week, in an effort to slash costs, French-based Credit Agricole (CA) reduced its foreign exchange division in London by six, sources at the bank say. The cuts follow reports that the bank’s London branch has been stung by a number of bad loans. "We had losses on certain affairs," admits Denise Agostini, a bank spokesperson.
In addition to the six cut from the foreign exchange trading desk, a source at the bank in London says that nine people were relieved of their duties in the money
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