BZW Closes Sydney FX Trading Desk Moving Responsibility To Singapore

BANKS

Barclays de Zoete Wedd (BZW), the investment banking arm of Barclays Bank, has closed its FX trading operation in Sydney as part of an overall regional centralization, officials confirm. All trading will now handled from the bank's hub in Singapore, although a sales desk will remain in Sydney.

"What we have done is similar to what a lot of banks have done in the region," says Klaus-Peter Moeritz, BZW's European FX director. "It's something of a trend to have centralized trading and

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