FX survey 2014: National Australia Bank
The star performers in the Euromoney global FX survey over the past three years are clearly the big-three Australian banks. Each has been beefing up its presence in FX, and since the financial crisis they have also benefited from maintaining high ratings, which has helped them to win business from real-money clients.
|David Jones, global head
of foreign exchange
trading at NAB
ANZ has achieved an amazing 725% increase in volumes over that period. Westpac has jumped 10 places and its volumes have risen 241% since 2011. Both are in the top 20 overall banks by market share this year.
But the biggest climber of the overall rankings over the past three years is National Australia Bank, which has risen from 48th to 23rd since 2011, with a rise in volumes of 694%.
“We realize we can’t compete with the top-tier global banks in FX. But we can tactically deploy our strengths across the globe and continue to grow our business,” says David Jones, global head of foreign exchange trading at NAB. “We’ve grown our institutional business. We see great opportunities in Asia, notably in CNH and in retail, which will be two of the biggest drivers of volume in the coming years.”