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Daily Dispatches: Pru appoints Devey to lead AIG integration

Robert Devey, the chief executive of Prudential UK and Europe, is to lead the integration of the UK-based insurer’s Asia division with AIG’s Asian life assurance business (AIA), it was announced on Wednesday. Devey, who joined Prudential only last year, will take up the role with immediate effect and will split his time between London and Hong Kong. (Financial Times)

Singapore, a bellwether of the world’s fastest-growing economic region, tightened monetary policy after reporting its swiftest expansion on record, in the latest sign that Asia is recovering far more rapidly than the West. More evidence came from South Korea, where a spurt of hiring in the manufacturing sector helped push jobless numbers sharply lower and Moody’s Investors Service raised the country’s credit rating to its highest level since the 1997-1998 Asian financial crisis. (Wall Street Journal)

Standard Chartered has snapped up convertible bond specialist Nathan McMurtray to become its new global head of origination for equity-linked securities, a job left vacant when Ronnie Potel left in March to join Morgan Stanley. The hire is somewhat surprising as McMurtray, according to several sources, was set to join Citi this month as a senior banker in its four-person CB team in Asia. (Finance Asia)

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