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Currency Traders Get Respite From Job Cuts as Revenue Sinks

Photographer: Anthony Kwan/Bloomberg
Updated on

Currency traders are finally catching a break after six years of job cuts thinned the ranks at the world’s biggest investment banks.

Headcount rose 1.2 percent last year for front-office staff covering Group-of-10 foreign exchange, including sales and trading personnel, the first increase since at least 2010, according to Coalition Development Ltd. The gain was recorded even as revenues in those divisions plunged 21 percent, according to the provider of research and analytics for the financial industry.