Word reaches me that Deutsche’s FX operation will emerge relatively unscathed when 900 jobs are cut in its global market’s division. The same is true at Citi – but with 52,000 jobs going, it’s inevitable that there will be fall out in its FX business, regardless of the fact that it has apparently had a record year. And with cuts scheduled at Morgan Stanley and Bank of America/Merrill Lynch, it really does feel that we are now deep in the bleak mid-winter.
Bollox to this! I’m off to sunnier climes
