HK
Company: Standard Chartered
Daily Dispatches: Profits fall for UBS and SocGen; Stanchart goes candidate shopping
UBS’ Q1 profit fell by 54 per cent; however the firm managed to attract new clients in wealth management. (Bloomberg Businessweek) Société Générale’s first quarter profits dropped by 20 per cent (The Wall Street Journal) Standard Chartered, which hope to fatten income by 10 per cent, will recruit 2,000 employees this year. (The Economic Times) [...]
Daily Dispatches: Sands says Standard Chartered is happy to stay put
Standard Chartered CEO Peter Sands discusses the risks in the bank’s consumer book, the possibility of re-domiciling, the fragmenting global financial architecture and his own plans for the future. (Finance Asia) Singapore is the most liveable city in the world for Asian expatriates, ranking well ahead of regional rival Hong Kong, where the air quality [...]
Daily Dispatches: Citigroup loans to customers in Asia help to boost profits
Citigroup, which has 4600 branches in 40 countries, boasts that it is the most global American bank. That reach paid off big time in the first three months of the year. It pulled in record revenue from processing transactions for its international corporate clients, and its loans to customers in Asia and Latin America grew. [...]
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 [...]
Daily Dispatches: Top J.P. Morgan banker quits; Tata Capital eyes Singapore for its private banking operations
J.P. Morgan’s regional head of Asia, Gaby Abdelnour, resigns after six years to enjoy life and rethink his career options. The firm is looking at internal candidates to fill his shoes. (Financial Times) Tata Capital plans on opening a private banking franchise in Singapore within the next two years. (TODAY) Singapore’s financial advisory sector is [...]
Daily Dispatches: Advice for Goldman Sachs aspirants; DBS Private Bank hires yet again from a Chinese firm
An ode from Bloomberg’s editors to Greg Smith, the former Goldman Sachs executive director, who left the firm in a very public manner: “We have some advice for Smith, as well as the thousands of college students who apply to work at Goldman Sachs each year: If you want to dedicate your life to serving [...]
Daily Dispatches: HSBC sells off its insurance arms in Singapore and Hong Kong
HSBC has agreed to sell its insurance businesses in Singapore, Hong Kong, Mexico and Argentina in separate deals worth US$914m. (The Wall Street Journal) The pain’s barely begun for Bank of America, which has yet to make many of the 30,000 job cuts that it said it would. (Forbes) RBS will shift 200 back-office jobs [...]
Daily Dispatches: Some RBS Asian staff will be retained if CIMB takeover happens
Malaysia’s CIMB which could purchase RBS’s Asian assets may keep up to two thirds of the UK firm’s staff. (Bloomberg) Profits for Standard Chartered rose by 14 per cent to hit a record high of US$4.75bn. Hong Kong and Singapore were the two biggest contributors to the group’s operating profit. (The Wall Street Journal) Wall [...]
Daily Dispatches: RBS’s branch people aren’t going to be very happy
RBS paid out millions of pounds in i-banking bonuses, while branch staff got a mere 1 per cent pay rise. (Bloomberg Businessweek) HSBC and Standard Chartered are likely to see profits rise on Asian growth. (Bloomberg Businessweek) Singapore’s UOB saw Q4 profit drop by 21 per cent. That’s in comparison to DBS’s 86 per cent [...]
Redundant traders take note: here’s a potential lifeline
Even as firms lay off staff, there are still signs of life in the financial recruitment landscape. Yuan trading for instance is seeing some growth. Recruiters say bankers with yuan experience are sought after, especially in Hong Kong, Shanghai and London, reports the South China Morning Post. Already RBS, HSBC, ANZ and Standard Chartered have [...]
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