Personal FX
Private investors are moving into forex, often as an asset class in its own right. Phil Moore finds out what this means for those private banking institutions hoping to muscle in on the action
Guido Graff, head of private wealth management foreign exchange sales at Deutsche Bank in New York, recalls making a presentation on the opportunities available in the forex market to a very senior group of private bankers last October. “I asked them what came into their minds when I mentioned forex and many replied ‘George Soros’,” says Graff. “Their natural inclination was to see forex as margin trading, a high-octane vehicle mainly for highly aggressive traders.”
Those attitudes, however, are
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