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Morning Coffee: Unlikely new destination for Asian investment bankers

ANZ hiring investment bankers in Asia

You hadn't thought of working here

If you’re an investment banker in Asia, and especially if you’re one with Chinese clients, you might now want to consider sending your CV to…ANZ.

While ANZ is a strong player in corporate and commercial banking in Asia, its “corporate advisory” arm – its quasi-investment banking division – remains a minnow, with just 25 bankers.

Still, there are now signs that hiring is on the cards. Martin Hanrahan, who was appointed last week as ANZ’s investment banking boss, told The Australian that the bank is now in a strong position to benefit from Asian companies taking an increasing interest in acquiring Australian assets. “One of the trends we see is an emergence of entrepreneurial Chinese groups, privately owned, that are globally expanding and they see Australia as one of the markets they want to expand into,” he told the newspaper.

Hanrahan says ANZ has a “relatively high profile” in Singapore, Hong Kong, China, Vietnam and Malaysia among clients considering M&A. And he may well have picked the right moment to start hiring more M&A bankers to service any increase in ANZ’s client base.

M&A recruitment at large banks in the region is generally stagnant and many bankers are instead moving to in-house advisory roles at expansionist Chinese corporates. But those who want to stay in the banking sector are having to shed their traditional reluctance to working outside the budge bracket. ANZ should start hiring before this situation changes.

Meanwhile:

Citi boosts leadership programmes for female staff in Singapore. (Straits Times)

DBS only ASEAN firm in new list of world’s top-50 private banks. (Channel News Asia)

BNP, Credit Suisse upgrade China brokers just as market plunges. (Bloomberg)

The Chinese government is investing Grandma’s pension fund in internet banking. (Quartz)

Singaporeans torn between work and childcare. (Asia One)


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