Goldman Sachs Considers Hong Kong As New Foreign Exchange Trading Hub

NON-BANKS

In a departure from the current trend of banks and investment banks moving their Far Eastern foreign exchange operations to Singapore (FX Week, October 31), investment banker Goldman Sachs is evolving a plan to consolidate its Singapore FX desk into its year-old Hong Kong operation, according to Peter Gerhard, partner-in-charge of the FX trading desk in New York.

"We decided to pick Hong Kong as our strategic base for foreign exchange in that time zone as part of an overall strategy within t