Peter Gustavson, who sold his Victoria-based Custom House Global Foreign Exchange to Western Union in 2009 for $370 million,

Peter Gustavson, who sold his Victoria-based Custom House Global Foreign Exchange to Western Union in 2009 for $370 million, is two years into a new foreign exchange venture with EncoreFX.

And he’s found the old formula of keeping the customer happy still pays off handsomely.

“In the FX industry, there is a lot of automation especially for small and medium-sized enterprises,” Gustavson said. He noted banks all have good online products and keen pricing. “Where we have differentiated [ourselves] is the banks have stopped giving personal service.”

Gustavson said anyone can get on a computer

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