Stephen Yau has joined ING Barings in Hong Kong as treasurer. He was previously FXmanager at Standard Chartered Bank in Hong Kong. Sources say he is succeeded at StanChart by former Union Bank of Switzerland deputy regional FX manager Anthony Ngai, in a restructured role, but this could not be confirmed by press time.

Bank Austria reportedly let go six traders in London last week. Sources say the traders were the bank's London-based Central and Eastern European currency team. Rob Bird, Bank

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