BAML continues restructure; evolves to meet regulations

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Bank of America Merrill Lynch (BAML) continues to reorganise its business post-merger and ahead of forthcoming regulations, resulting in management changes in FX and the launch of a futures and derivatives clearing service.

The foreign exchange business has seen the departure of Joe Ziccarelli, New York-based managing director and chief operating officer of global foreign exchange. Ziccarelli joined the US bank in 2006 from HSBC, where he was a managing director in FX and global metals sales and

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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