HK
Company: UBS
Having a global boss based in Asia could be very good for your career
The past couple of months have seen some investment banking heads relocate to Asia from the West. It’s easy to see why; after all the region has been repeatedly described as the engine of growth. Having your top people here truly matters from a business standpoint. As Jes Staley, chief executive of J.P. Morgan’s investment bank, [...]
Daily Dispatches: Large Facebook losses for UBS and Citi
The market-making arms of UBS and Citigroup suffered combined losses of about $US50m on trades made during this month’s glitch-plagued listing of Facebook on the Nasdaq Stock Market. (The Australian) Dealogic league table roundup, May 25: Goldman Sachs continues to lead the Asian league tables for equity capital markets, while HSBC heads the debt capital [...]
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: UBS shareholders slam banker pay packages; China Renaissance grows in Hong Kong
More than a third of UBS’ shareholders rejected its pay plans. In particular, they were against the US$4.4m sign-on fee for incoming chairman Axel Weber. (Reuters) Beijing financial firm, China Renaissance Partners, hired two senior people from US investment bank Cowen Group, to run its Hong Kong business. The firm plans to transform into a [...]
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: 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: More investment banking cuts to come; Mitsubishi UFJ recruits
Expect even more “right sizing” on Wall Street – everyone from Goldman Sachs, Citigroup, J.P. Morgan and Morgan Stanley are expected to cut dozens of jobs. (The Wall Street Journal ) Mitsubishi UFJ will hire 50 currency and interest-rate derivatives traders; while the lending unit Bank of Tokyo-Mitsubishi UFJ will recruit 150 sales and research [...]
Fly on the wall: Here’s what it’s like to be a graduate trainee at UBS
If you’ve ever wondered what it would be like to be a bright young thing being groomed for greater things at a global bank (read: graduate trainee) – wonder no more. Last week, eFinancialCareers sat in on part of a business dynamics course for 26 UBS graduate trainees from across Asia Pacific. All hail from [...]
Daily Dispatches: A former UBS banker is implicated in Singapore’s online vice ring; Citigroup’s CEO has his pay package rejected
The former executive director of operations in UBS Investment Bank, Juerg Buergin, is among one of 48 men who allegedly paid for sex with an underaged girl in Singapore. (The Straits Times) Shareholders reject Citigroup Chief Executive Vikram Pandit’s US$15m pay package, which could herald more of the same at other firms.(Los Angeles Times) UK-based [...]
Daily Dispatches: BoA Merrill Lynch successfully poaches yet another UBS banker; HSBC gears up to sell off Asian units; China sentences a “shadow banker” to death
Yet another UBS banker appears to have been wooed over by Bank of America Merrill Lynch’s president for Asia Pacific, Matthew Koder. Rodney Ward joins as the new chairman of Asia-Pacific global corporate and investment banking. Other former UBS alumni the firm has lured include James Fleming and Philip Wong. (FinanceAsia) HSBC is in the [...]
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