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Derivatives

JPMorgan Cuts Interest Rate Marketers In New York

JPMorgan has laid off Philip Smith and Scott Adams, v.p.s and interest rate derivatives marketers, in its New York-based derivatives marketing team. Michael Dorfsman, spokesman in New York, said the cutbacks were part of the firm's plans to cut 2,000 staffers. Smith and Adams could not be reached for comment.

Smith marketed swaps for technology, media and telecom firms and Adams had the same role for the transportation sector, according to Dorfsman.

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