Westpac set to hire in institutional FX sales

PEOPLE NEWS

SYDNEY -- Westpac Corporation plans to launch a new institutional FX division, Ian MacGougan, global head of FX at Westpac in Sydney, told FX Week.

The bank will make global hires in key roles to expand business with institutional clients, he said, building on the bank's existing corporate FX sector. "Our penetration in the corporate sector is extremely high," said MacGougan, adding that growth was most likely to come from offshore institutional clients.

"We are looking at setting up an inst