FX Concepts expands into Australia and New Zealand

Under the terms of the deal, Sovereign will provide marketing and client-focused research for FX Concepts.

"The superannuation funds in Australia need a lot of attention in terms of currency management," said Philip Simotas, New York-based president of FX Concepts. "We're recreating the business model that has already been successful in Japan, where we work with a local firm with particular expertise in what we do and familiarity with the local market."

The deal involves the appointment of So