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TurnPoint Foreign Exchange Signs Agreement to Expand Presence

Salt Lake CityTurnPoint Foreign Exchange announced today that it has entered into an exclusive referral agreement with the Bank of Utah to better serve the corporate foreign exchange marketplace.  The agreement provides TurnPoint with a national footprint and adds a new line of service for Bank of Utah.

Jason Langston, TurnPoint CEO said, “This agreement is a game-changer in corporate foreign currency exchange allowing us to expand our footprint nationwide. Additionally, it gives us the chance to attract top-level talent and liquidity providers.”

“We have built strong online banking, commercial lending, cash management, corporate trust and wealth management services through the years. Foreign exchange service is one more arrow in our quiver that will allow us to better help our customers,” added Doug DeFries, President and CEO of Bank of Utah.

Establishing foreign currency exchange services has been a goal for the Bank, according to Roger G. Shumway, Bank of Utah’s Executive Vice President and Chief Credit Officer. “We’re pleased that the right opportunity and the right caliber of people have come together at this time, so that Bank of Utah may offer foreign exchange services to our customers locally and globally.”

Bank of Utah has appointed Doug Reichman as Vice President and Manager of Foreign Exchange. “After spending my career at various commercial banks, I am excited about this ground-level opportunity at the Bank of Utah.”

Mr. Langston is a 25 year veteran in corporate foreign exchange services. Formerly, he was a founder of GPS Capital Markets, a private FX boutique where he served as Managing Partner and CFO. Previously he worked as a foreign exchange advisor for Wells Fargo Bank and First Security Bank. He graduated from the University of Utah with a bachelor’s degree in accounting and was a board member of the David Eccles School of Business Alumni Association.