ICBC Standard Bank closes Tokyo metals branch

Reuters | May 17, 2019 at 12:50 PM
  • ICBC Standard Bank said on Friday it would close its metals branch in Tokyo this year and move the business to hub offices in London and Singapore.
  • Majority owned by Industrial Commercial Bank of China (ICBC), ICBC Standard has expanded in metals in recent years, becoming one of London’s few precious metals clearing and vaulting banks.
  • It has around two dozen metals trading and sales staff around the world.