The word on the street is that Merrill Lynch’s foreign exchange business posted record results in 2007. However, that appears not to have been sufficient to stop its revolving door from spinning. Uncertainty and paranoia are once again the dominant themes at the troubled bank.
The highest-profile victim is Harry Culham, who had been the bank’s co-head of global currencies. Culham was recruited as the latest in a long line of global heads of FX as recently as January 2007. But almost from his...
