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CBA and CMC trim staff

Commonwealth Bank made staff cuts at its markets division in Sydney, letting about 20 people go, Crikey reported yesterday.CMC Markets, a niche supplier of highly leveraged derivative trading services, and also a lender, cut about 10 jobs as the business centralised some services in London, Business Spectator reported. The firm's chief executive, David Trew, who founded the business in Sydney in 2002 will leave, to be replaced by chief operating officer Barry Odes.

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