HK
Company: Credit Suisse
Daily Dispatches: Experienced bankers wanted at Coutts
Coutts is keen on recruiting senior directors in Asia, Middle East, UK, Eastern Europe and Switzerland. The firm has ramped up headcount in this area by a third since January this year. It’s also hired about 20 new senior executives, with about another 10 starting work soon. The bulk of the hires hail from Credit [...]
Daily Dispatches: Suitors galore for BofA’s private banking assets; Credit Suisse loses top banker to Temasek
The Royal Bank of Canada, Credit Suisse and Julius Baer are all keen on buying Bank of America’s non-US wealth management business.(Reuters) The global head of Credit Suisse’s mergers business, Boon Sim, has left to head up the North American operations of Singapore-based investment firm Temasek Holdings. (The Wall Street Journal) The new owner of [...]
Daily Dispatches: Credit Suisse hires private bankers in China; Hong Kong’s IPO market toughens up
Credit Suisse fattens up its China private banking team with two senior hires from BNP Paribas. (FinanceAsia) Tough new rules on Hong Kong’s IPO market could see banks being made criminally liable if the firms they sponsor lie to investors. (The Wall Street Journal) Asian family offices are relying less on their private bankers. (AsianInvestor) [...]
Daily Dispatches: Profits shrink at Credit Suisse; a former Morgan Stanley banker falls from grace in China
Credit Suisse saw its Q1 profits plummeting by 95 per cent. (Bloomberg Businessweek) Garth Peterson, a former Morgan Stanley MD and top deal maker in China, has pleaded guilty to bribery. (Reuters) Unprecedented: J.P. Morgan has relocated the New-York based head of its investment banking coverage to Asia. “We’ve never done something like this where [...]
Daily Dispatches: Cuts are probable at Credit Suisse; OCBC will grow in China and Indonesia
Credit Suisse could be cutting 5,000 i-banking jobs. (TODAY) New OCBC CEO, Samuel Tsien, has ambitious plans for Indonesia and China.He says: “We can create a better presence there, we can do more business there, and we can achieve a high level of performance in those markets.” (TODAY) Temasek Holdings will buy a portion of [...]
Daily Dispatches: There is hope after a redundancy – just look at the former employees of Samsung Securities
The retrenchments at Samsung Securities, which shut down most of its operations outside of Korea, have benefited the manpower needs of other firms. Both HSBC and Credit Suisse have hired experienced analysts from the brokerage. (FinanceAsia) UK fund house Ashmore appears to have Asian growth ambitions. It has appointed Kon Chee-Keat, formerly from Lion Global [...]
JPMorgan’s analysts have produced another report full of essential information for anyone with a career in global banking. This is what it says
Intermittently, the banking team at JPMorgan will produce an exceptional report on the state of the industry. They did it in November and they did it in February.They’ve just done it again. Their report is huge, at 232 pages. This is what you need to know. 1. Revenues are stagnating. FICC is still crucial. M&A [...]
Daily Dispatches: HSBC eyes China growth, while ING and J.P. Morgan make key hires
It’s not just DBS that will be hiring in a big way in China. HSBC also has plans to add more mainland branches and raise its stake in the Bank of Communications. (The Standard) ING Investment Management hires a new head for Asian fixed income. The team will grow to 10-people strong. (Asian Investor) J.P. [...]
Daily Dispatches: A rather frightening list of banking’s biggest compensation cutters
Morgan Stanley, Citigroup and Credit Suisse made some of the year’s biggest cuts in compensation for investment bankers, averaging as much as 30 per cent, as Wall Street firms grappled with lower revenue. (Bloomberg) The former chief executive of the Royal Bank of Scotland, Fred Goodwin, has been stripped of his knighthood by the Queen [...]
Daily Dispatches: Credit Suisse bankers in Asia ought to be grateful they aren’t in the West
Credit Suisse may slash compensation for bankers in Asia by as much as 20 per cent. Still, that’s better than the 30 per cent cut the firm is inflicting on some senior bankers in other regions. (Bloomberg) The Islamic Bank of Asia has made two senior appointments – a Singapore-based head of i-banking and a [...]
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