Lehman Brothers Chooses Singapore Over Hong Kong In Latest Defection
NON-BANKS
Lehman Brothers is making Singapore its regional foreign exchange hub, joining just two other major investment banks that also have the bulk of their forex business there, officials say. In a separate move, Lehman has finally obtained a Japanese banking licence and so will conduct some forex, essentially sales, in Tokyo as well.
William Toh, senior vice president and head of foreign exchange for the Asia Pacific region, will relocate from Hong Kong to Singapore, along with chief dealer Saw Tuay
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