BofA moves to replace lost FX staff

The seven hires - just some of the 30 the bank said in January it would add in forex this year - represent a shift to a more aggressive risk-taking strategy, said Larry Baum, global head of spot, forward and proprietary trading at the bank in New York.

Baum is himself a recent recruit, having joined Bank of America from Barclays Capital in the City a few weeks ago. "We’re focusing on traders who will work more closely with our client base as well as take the risk transference from our clients,"

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