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Buy-Side Traders Face Redundancy at Chase

Traders Magazine, September 1999

Peter Chapman

The seven traders at Chase Manhattan Bank's equity management unit in New York could be out of work soon under a reorganization plan for the bank's equity portfolios. Altogether, the reorganization puts 32 employees at risk.

Chase is combining its equity portfolios managed in New York with those run out of its Houston operation. New York oversees $10 billion in stocks while Houston manages $25 billion.

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