FX Markets

ANZ Closes FX Desks In Chicago, L.A. & Toronto Move Follows Three Year Review Of Operations

BANKS

The Australia & New Zealand Banking Corp. (ANZ) closed its foreign exchange trading operations in Los Angeles, Chicago and Toronto on May 1. As a result, ANZ only makes prices out of its New York office now, officials at the bank say. Management's decision to shut those offices follows a three year review of its treasury operations, sources at the bank say.

"For us to have a separate infrastructure in Los Angeles, Chicago and Toronto was not necessary," says John van Aken, regional general

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