HSBC To Slash Forex Jobs As RepNat Takeover Closes


LONDON--Republic National Bank of New York's forex team in London will be slashed following its official integration into banking giant HSBC on December 31.

However, a RepNat official would not comment on market speculation that only a handful of sales staff--perhaps three of a trading and sales team of around 25--would move to HSBC.

He said: "there have been a number of lay-offs and only a minority will make this transition. We are, however, still negotiating internal positions for some staff."

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