The Education Business segment includes corporate seminars, technical analysis course, and foreign exchange dealing courses.
It is among several banks believed to have been contacted by regulators in recent weeks about foreign exchange dealing.
Kellaway, who is 57, joined the FT in 1985 after working in a foreign exchange dealing room and then at the Investors Chronicle.
Global Markets was primarily focused on sales and trading activities, foreign exchange dealing; derivatives trading and structuring, risk management and other market related functions.
In its biggest one-day fall in four years, the Russian currency sank 40% against the D-mark; the central bank gave up trying to support the currency, and suspended foreign-exchange dealing.
It plans to offer a range of financial products, such as spot and forward foreign-exchange dealing, currency and interest-rate swaps, by linking corporate buyers of these products with a range of providers.
Such dodges are popular because until recently, if you sent money through a formal bank, the government confiscated most of it, by means of a rigged exchange rate.Mr Gono has made official channels more attractive by reducing the amount the government confiscates, and by cracking down on illegal foreign-exchange dealing.
Wall Street's biggest private partnership will for the time being go back to naming new partners, and retiring others, as usual.London remains by far the biggest foreign-exchange dealing centre, with average daily turnover rising from $464 billion in 1995 to $637 billion this year, a slower growth than New York's but still a greater turnover than New York and Tokyo combined.
"From our initial investigation," the banks said in a statement, "it is clear that the foreign exchange deals were transacted in the normal manner.
There is no certainty, they say, that a tax could be imposed comprehensively on bilateral financial transactions, such as over-the-counter derivatives and foreign exchange deals, without simply driving the business offshore.
He is taking over as the bank braces itself for another wave of payouts to customers after admitting last month that it had set aside £290m as compensation for mistakes in the way foreign exchange deals were priced.
