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Daily Dispatches: Deutsche’s big ECM push in Asia

Deutsche Bank plans to expand aggressively its equity capital markets and merger advisory operations in Asia to help push regional revenues above US$5.5bn by 2011. (Financial Times)

Local insurers in Hong Kong are trying to beef up their distribution channels by launching a franchise system and hiring more agents now that the economy is recovering. But market watchers do not expect the hunt for clients to pose a big threat to listing candidate American International Assurance. (The Standard)

National Australia Bank chief executive Cameron Clyne has taken personal charge of the negotiations with France’s AXA SA, for the $13bn-plus carve-up of the Australian wealth manager, AXA Asia Pacific. (Business Day)

David Kiely, the Macquarie Wealth adviser who was sprung by a TV broadcast on Tuesday looking at photographs of scantily clad women, has been told he will keep his job. Macquarie said in a statement today it had completed an internal review of the events on February 2 and action had been taken after discussions with the employee. (The Australian)

The Australian government’s decision to withdraw the wholesale banking guarantee is betting on the fact that there won’t be any more seismic shocks to the global financial system. Hopefully, such confidence is not misplaced. (The Australian)

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