Private client demand soars for FX firm

SGM-FX, which launched on January 2 with 10 clients, secured interest from 30 to 40 more in January, said chairman and ex-WestLB markets head, Humphrey Percy. The firm targets small companies and high-net-worth individuals.

Larger institutions tend to overlook clients seeking FX services for overseas private purchases, providing a niche market for SGM-FX, Percy told FX Week. "FX is also in people’s consciousness with the increased volatility of sterling against the euro and a rise in prices i