Goldman Sachs to revive FX desk in Sydney

Superannuation fund growth attracts the bank, as Australia and New Zealand clients represent increasing proportion of regional FX flows

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Goldman Sachs is reopening its foreign exchange trading desk in Sydney, Australia, in a bid to tap into opportunities stemming from the growth in superannuation funds in the region, FX Week has learned.

It is understood that Goldman is relocating Scott Sloman, who has been with the firm since 2017, from Hong Kong. The bank declined to comment.

A driving force behind the firm’s decision is the increase in locally managed savings through the growth in superannuation funds, says a source familiar

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