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Neuer Markt banks sweat out downturn

The biggest players on the Neuer Markt are sitting out the collapse in activity and insisting that they will not follow the lead set last week by JP Morgan in slashing its team of bankers.

Last week, JP Morgan downsized its Neuer Markt team just 15 months after recruiting Rudolf Vossen and 10 of his team in a high-profile hire from Dresdner Kleinwort Benson.

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