Crédit Agricole Cuts Three In New York Blaming 'Unsatisfactory Performance'

- By FX Markets Staff
- @FXMarkets_
- 28 Aug 1995

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Crédit Agricole (CA) in New York has let go FX manager Jean-David Borges, as well as its two forwards traders, according to Jean-Claude Gelhaar, first vice president and head of treasury for the U.S. Gelhaar says the three were let go because performance on the desk was "unsatisfactory," denying market rumours that the forwards traders were overstating profits and not hedging properly.

"Performance of the forward desk had been unsatisfactory for some time and that was the reason these people were

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