FX Week

SwedBank To Open FX Desks In N.Y., London Bucking Industry Trend; February Start Eyed

BANKS

SwedBank, bucking the growing trend toward consolidation, plans to open foreign exchange trading operations in New York and London in February. The two desks, which will also trade money market instruments, will be opened simultaneously.

"We intend starting up operations in the beginning of February, moving toward full implementation of the Treasury team by the beginning of 1992," says Jim Linford, treasurer at the bank's New York office.

"From a Treasury angle we intend to have three or four