Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Goldman Seeks Sydney Beachhead, Trade Hub for Local FX Assets

Australia’s stable AAA credit rating makes it a haven with sovereign-wealth funds allocating more money here, said Simon Rothery, the chief executive officer of Goldman Sachs Group Inc.’s operations in the country and neighboring New Zealand. Photographer: Brendon Thorne/Bloomberg
Australia’s stable AAA credit rating makes it a haven with sovereign-wealth funds allocating more money here, said Simon Rothery, the chief executive officer of Goldman Sachs Group Inc.’s operations in the country and neighboring New Zealand. Photographer: Brendon Thorne/Bloomberg

March 10 (Bloomberg) -- Plans to develop Sydney as hub for trading local-currency assets, Australia’s stable AAA credit rating makes it a haven, encourages sovereign-wealth funds to allocate more money there, said Simon Rothery, CEO of Goldman Sachs Australia & New Zealand. * Moved Australian credit derivatives business from Hong Kong

to Sydney last month after bringing over bond and swaps

trading last year * “The Aussie dollar is an ever more important part of

sovereign-wealth funds, central banks and global accounts,”

Rothery said in a Feb. 27 interview in Sydney. “Everybody

wants to play the China story, but you can’t get exposure

directly so people gain access through Australia.” * Story Link:NSN N28BAT6TTDSR<GO>

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.