BT Alex.Brown closes City unit

Thursday 15 October 1998 23:02 BST

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BT Alex.Brown closes City unit

BT ALEX.BROWN, the US investment bank which bought NatWest Bank's equity operations last year, has closed its City-based Eastern European share trading business with the loss of up to 40 jobs. More redundancies may follow as the bank ,which is preparing to disclose losses of $350m (pounds 205m) next Thursday, restructures loss-making businesses. BT employs 2,400 in the City.

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