Hill Samuel Bank Closes N.Y. Treasury Operation

BANKS

U.K.-based Hill Samuel Bank Ltd. closed its New York treasury operation Monday, May 6. The move, which followed a global review of operations, reflects the increasing trend toward consolidation within the industry and the difficulties of trying to maintain trading operations without the support of local corporate clients.

"We have been reviewing the global needs of our treasury operations for quite some months," says Martin Anderson, president of Hill Samuel USA. "The result of that

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