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Daily Dispatches: SCB recruits 500 in Hong Kong

Standard Chartered plans to hire 500 employees this year for its wealth management business in Hong Kong. The bulk of the new hires will be “frontline” staff. (Bloomberg)

When Citic Private Equity Funds Management Co closed the largest local-currency private equity fund in China’s history last month it could not have looked more different from the previous funds to hold that title. (Financial Times)

American and European banks are finding themselves in hot competition in their traditional strongholds for high-quality corporate clients with Chinese banks that have expanded overseas through equity acquisition or setting up branches in the developed market. (China Stakes)

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