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Dispatches: DBS on massive treasury hiring spree – plans to create new jobs in China

DBS Bank will invest $250m and hire 200 people over the next five years to expand its treasury and markets business across Asia. Most of the new jobs will be created in Hong Kong, China, India and Indonesia – all areas where the bank sees potential for growth. (Straits Times)

Mike Geoghegan will step down as HSBC’s chief executive at year’s end in an extraordinary shake-up of the global bank’s senior team. (The Australian)

Boardroom upheavals like this would have been a calamity at most banks but HSBC shareholders will not protest too loudly. (Guardian)

Deals and capital raisings in China’s booming financial services sector have outpaced those in the US for the first time since records began in 1995, fuelled by a wave of refinancings by Chinese banks needing to repair their balance sheets. There have been $36.2bn-worth of deals in China’s financial sector so far this year, compared with $26.2bn in the same sector in the US, according to data from Dealogic. (Financial Times)

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