Lloyds Shifts Non-Japanese FX To Wellington And Sydney Desks

Lloyds Bank has formalised plans to transfer non-Japanese foreign exchange business from Tokyo to Wellington and Sydney, officials say. Meanwhile, Tokyo continues to handle all the Japanese corporate business, as well as some group orders on local arrangement between Tokyo and several other regional branches, says Alan Ward, Lloyds' chief manager, treasury.

Contrary to some press reports that say Lloyds is withdrawing FX from Tokyo altogether, Ward explains the UK-based bank actually does not