HK
Sector: Capital markets
Comment: Who’s your father?
The return of Margaret Ren as head of China investment banking to Merrill Lynch is proof that, despite the rise of the private sector, the days of the ‘Red Princelings’ – the offspring of senior officials – are far from over. Ren, who’s married to the son of former Chinese Premier Zhao Ziyang, was suspended [...]
Islamic finance goes mainstream
Do you know what Mudaraba, Murabaha and Musharaka are? If you do, you could be in luck. By several accounts, bankers trained in Islamic finance will hot property in Asia in 2007. “We expect the Islamic financing wave to lap up against Hong Kong sometime next year,” says Stephan McAlinden, a managing partner at Eban. [...]
China IPOs fuel ECM hiring
A record number of Chinese IPOs is fuelling demand for equity capital markets (ECM) staff in Hong Kong. The world’s largest IPO, the $19 billion Industrial and Commercial Bank of China (ICBC) deal, was executed last month and there’s more to come. UBS officials told the New York Times they’re working on two dozen Chinese [...]
Hong Kong hiring quadruples
Investment banks the world over are bulking up their acquisition, finance and underwriting teams in Asia to meet the demand from private equity groups. Reuters says financial sponsor teams have quadrupled in size in less than a year at some banks based in Hong Kong. The major regional players in private equity M&A include Citigroup, [...]
Capital markets hiring hot in 2007
Equity finance and debt capital markets (DCM) will be the two main areas for hiring in Hong Kong next year, recruiters say. Merrill Lynch, HSBC, Citigroup, Goldman Sachs, UBS and Deutsche Bank are all said to be in the market for equity finance professionals. Chris Baker, the head of equity finance at Citigroup in Hong [...]
Booming Aussie markets attract expats
Australia’s equity, debt and foreign exchange markets have surged over the past few years, creating opportunities for senior Aussie bankers who left the country to work abroad. “We are starting to see Australian expats returning to the Sydney market due to its increasing influence in the region,” Matthew McCloghry, Sydney based partner at Anton Murray [...]
Citi to beef up hybrid trading
News reports suggest Citigroup is preparing to follow in the footsteps of Goldman Sachs, JP Morgan and Morgan Stanley in forming a regional hybrid trading desk in Asia. Derivatives Week says the new desk will be a standalone joint venture between the debt and equity divisions, staffed by an initial team of three people. At [...]
CDOs power ahead but RMBS hiring may falter
UBS is preparing to add collateralized debt obligation staff (CDO) in New York, London and Asia according to a news report. Securitisation News says the Swiss bank is understood to be looking for between four and six origination and structuring professionals for its 12-strong New York-based CDO product development group. In London, it is said [...]
Derivatives structurers: appetite is massive
Are you a derivatives structurer? If the answer is yes, banks in Hong Kong and Singapore are eager to hire you – particularly if your forte happens to be structuring equity derivative products. Hong Kong recruiters say banks’ appetite for derivatives whiz kids is being stoked by soaring hedge fund investment, by Asian investors’ growing [...]
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