CBA Downsizes Singapore FX Trading Room, Opting To Handle Asian Regionals From Sydney

BANKS

Commonwealth Bank of Australia (CBA) significantly downsized its Singapore dealing room last week, leaving a residual core operation in place to handle wholesale money market and client business, confirms global head of treasury trading Paul Riordan. Separately, the bank hired Andy Spencer as its new chief dealer of Australian and New Zealand dollar trading, with a coordinating role for those currencies globally.

Spencer joined CBA several weeks ago from BZW in Sydney, which two months ago do