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Foreign exchange broker tussles with RBS over surprise move for clients

RBS's NatWest Markets division catches JB Drax off guard with direct approach to corporate clients

Alison Rose, CEO of RBS
Alison Rose, CEO of RBS Photo: Simon Dawson/Getty Images

A row has broken out between a prominent City broker and Royal Bank of Scotland over the UK lender’s attempt to lure away lucrative foreign exchange clients.

NatWest Markets, which houses the remnants of RBS’s once-sprawling investment bank, sent an email to a small number of JB Drax Honoré’s corporate clients last week pitching its full suite of foreign exchange services.

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