Morgan Guaranty Boosts Singapore Treasury By Relocating Some Dealing From Sydney

BANKS

Morgan Guaranty Trust Company of New York is planning to expand its treasury operations in Singapore including foreign exchange from early January, according to the bank's Singapore managing director, Christian Zuegel.

Morgan Guaranty in Singapore will take over JP Morgan Australia Ltd's Sydney market-making function in non-Australian dollar and non-New Zealand dollar currency products from January 1, Zuegel says.

The move follows a change earlier this year when JP Morgan closed its forex trad

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