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ANZ Expands Hong Kong Currency Trading Operation
Australian banking major ANZ says it intends to add as many as 80 new hires to its Hong Kong based currency trading operation, as it seeks to extend its presence further into Asia.
“Three years ago our dealing room had less than 10 people, today we have 120 and probably we’re on the way to 200.” said Gilles Plante, ANZ deputy chief executive for the Asia-Pacific, Europe and America.
ANZ has the largest presence in Asia of any Australian lender, and has embarked on a strategy that will seek to derive as much as 20 per cent of its income from the region.
Last year ANZ acquired several businesses across key Asia Pacific countries from troubled UK lender RBS. Last week the lender won in principle regulatory approval from the Chines government to open a wholly owned domestic Chinese subsidiary, and says it plans to have 20 branches in China by 2012.
The number of people ANZ employs in the region has leapt by nearly 45 per cent to 8,000 over the last couple of years, and since the end of 2008, ANZ has made 214 hires in China.
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