HK
Company: Bank of China
Daily Dispatches: Who the real muppets are; RBC wants to hire in Asia and everywhere else it seems
Here’s who Greg Smith was referring to, when he waxed lyrical about muppets. (the Guardian) Apart from its growth ambitions in Asia, RBC also plans on expanding in more established markets like the US and UK. (The Economic TImes) ICBC joins Bank of China in posting better-than-expected Q4 profits. (Bloomberg) Instead of boasting about their [...]
The Cantor case shows how Chinese firms are attracting more expat talent
Chinese banks have increasingly managed to attract non-Chinese bankers. Cantor Fitzgerald recently sued four former Hong Kong-based employees for conspiring to hurt the firm after they resigned simultaneously to join Chinese boutique bank Reorient Financial Markets. The Hong Kong High Court rejected Cantor’s claim earlier this week. Then came the news that Bank of China [...]
Daily Dispatches: Job losses Down Under as RBS shuts down FICC
RBS cuts 80 Australian jobs in fixed income, commodity and currency trading. Some of these roles will be moved into Singapore and London.(The New York Times) Chinese bankers will probably see double-digit wage growth, while their colleagues in Singapore and Tokyo won’t see much in salary increments.(Bloomberg Businessweek ) More on mainland pay: Salaries for [...]
Overseas opportunities from Asia to Africa: Why the world wants Chinese bankers
As mainland banks expand across the world, Chinese professionals are increasing eyeing up transfers to an overseas office. Emma Charnock, regional director of Hays in Hong Kong & China, says: “Most of the largest Chinese state-owned banks would have representative offices or branches located in major cities like New York, Sydney and London. So there [...]
Daily Dispatches: New leaders for China Construction Bank and Agricultural Bank of China
China Construction Bank and Agricultural Bank of China name their new party bosses, both of whom are expected to become chairmen. (Finance Asia) Banks and hedge funds in the US have long wooed undergraduates from elite colleges with lavish dinners, personalized e-mails and free trips to New York for interviews. But this year, the anti-bank [...]
Daily Dispatches: Will Europe’s banks retreat from Asia?
It’s entirely plausible that Continental European banks may pull back from Asia, but US, UK, Australian and Asian banks can and will fill any gaps, says Warren Hogan, ANZ’s chief economist. (TODAY) UBS profits are pretty decent in Q3. A trader says: “The figures are better than expected, even though they massaged them somewhat. But [...]
Daily Dispatches: China starts buying its own banks
China’s sovereign-wealth fund stepped in Monday to buy shares of the country’s battered banks, which have been caught in a selloff that analysts say reflects a broader loss of trust in the integrity of corporate earnings and government statistics. The skepticism of investors comes as China has become increasingly exposed to global markets, largely through [...]
Daily Dispatches: UBS’s tricky tightrope act between being grave over its $2.3bn loss and soaking up Singapore’s F1 glamour
Fresh off the rogue trading scandal, UBS’s board finds it hard to present a picture of austerity amid the glitz of the Singapore Grand Prix. (Reuters) One of China’s big four, Bank of China sets up its first overseas forfaiting and commodities finance unit in Singapore. (TODAY) With banks spinning off their Asia prop desks, [...]
Daily Dispatches: Rainmakers at UBS are being eyed by rivals; DBS ramps up its private banking game
UBS’s star bankers are very likely to get poached thanks to the rogue trading scandal and the prospect of tiny or non-existent bonuses. (Reuters) DBS is spending S$250m to expand its private banking business in Singapore and Hong Kong over the next five years. (Channel NewsAsia) A look at UBS vis-à-vis Lehman. (Forbes) UBS and [...]
Chinese banks need more technical skills. Their solution: hire more foreigners
The stellar results from China’s big four banks have hit the headlines recently. First-half net profits have jumped by more than 25 per cent at Agricultural Bank of China, Bank of China, Industrial and Commercial Bank of China and China Construction Bank. It’s no surprise then that mainland banks have been candidate shopping, even in [...]
Follow eFinancialCareers
What is RSS?
