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RepNat Shuts Fledgling Zurich Forex Operation

Less than a year after hiring a team from UBS to start a trading operation in Zurich, Republic National Bank of New York (which is currently in the midst of a merger with HSBC) has closed shop and shifted trading to London. According to a spokesperson, all the traders have been let go.

Although the spokesperson declines to name the departed dealers or say how many there were in total, sources say Urs Seiler and Adrian Spoerri were among those who have left.

RepNat’s global FX manager in London, Mark Brown, to whom Spoerri reported, referred calls to the press spokesperson.

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