Foreign Banks Expand In Tokyo As FX Volumes Rise In Japan

BANKS

Foreign banks in Tokyo are strengthening their foreign exchange operations in Tokyo in moves that are seen as a response to more vigorous trading on the Tokyo market (FX Week, April 26).

Union Bank of Switzerland is planning to boost its dealing staff from seven to 15 by mid-summer, says Takao Sakoh, vice president at the bank's treasury division in Tokyo. "The new staff will include a dollar/Deutschmark expert dealer from head office in Switzerland," he says. UBS apparently intends to increa