The Belgian-based financial messaging consortium SWIFT has expanded its North American presence with the addition of an office in San Francisco to meet the needs of more than 160 customers and potential customers on the West Coast. SWIFT customers will benefit from the expertise and localised access of sales and technical support for securities, treasury and back office operations. “As a business critical, third-party service provider, SWIFT’s West Coast presence provides members of the local financial community – including asset management, hedge fund and corporates – with enhanced availability to SWIFT’s services,” said Steve Goswell, principal, Barclays Global Investors. SWIFT will initially staff the new office with two full-time employees with plans to grow to three in 2009.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
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