HK
Sector: Investment Banking / M & A
Daily Dispatches: Rumours abound about UBS selling Asian franchise; BoA talks job numbers, expense constraints and morale in Asia
If there is one prospect that has Hong Kong M&A bankers licking their lips at the moment, it is the idea that UBS – the Swiss bank rocked by a US$2.3bn alleged trading scandal, and the resignation of its chief executive – might sell its crown-jewel Asian business. (Financial Times) WSJ grills Claire Huang, who [...]
Daily Dispatches: Citibank, HSBC, DBS are among those still looking to hire in Singapore
Singapore banks are still recruiting, but on a “selective basis”. (The Straits Times) All in a day’s work: Wall Street workers duck fallen trees and forgo make-up to get to work after Hurricane Irene. (Bloomberg) Canadian bank CIBC fattens up its Asian capital markets team (FinanceAsia) Taiwanese banks are very much encouraged to open more [...]
Banker at the Top: Q&A with DBS’s Tan Su Shan, managing director and group head, wealth management
Q: Was banking what you always envisioned yourself doing? Why did you choose to go into wealth management? A: In my second year at Oxford University [Tan graduated with a Masters of Arts], I did a summer internship in London with Rothschild and visited the dealing room at Barings Securities. I was 19 and fell [...]
Forget the freeze: Here’s a job function in which three Asian banks are still hiring
Earlier this week, we highlighted M&A as an area which will potentially see more recruitment growth in Asia amid the dismal news of redundancies and headcount freezes in financial firms. And here’s more proof of life: the Singaporean banks DBS, UOB and OCBC are on a hiring drive in finance tech. Although there aren’t hundreds [...]
Asia’s lasting (but small) love affair with M&A bankers
M&A activity is looking upbeat of late which seems to indicate that M&A bankers are still pretty desirable, never mind the global market turmoil. The Wall Street Journal recently reported that Asia Pacific M&A activity has reached US$566.2bn so far this year compared with US$463.6bn in the same period last year. In particular, South East [...]
Daily Dispatches: Less expats in Singapore expected with tighter hiring controls
Business costs could rise with Singapore’s new measures curbing the number of white-collar foreigners. (Reuters) Manchester United IPO may float on the Singapore stock exchange by year end. (The Guardian) Rather than set up Asian offices, overseas hedge funds are outsourcing trading desks. (AsianInvestor) Indonesia is a bright spot even as investor confidence takes a [...]
Daily Dispatches: The dreaded spectre of job cuts looms over at Westpac
Westpac’s disappointing Q3 cash earnings means job cuts, possibly in middle management and IT. (The Australian) Tumultuous global financial markets have caused Asia’s head hunters to have some very mixed outlooks. (AsianInvestor) Hedge fund Millennium Management adds and subtracts from its Asian headcount. (AsianInvestor) SGX launched a spanking new trading machine, the “world’s fastest”- executing [...]
Guest Comment: Here is the (green) future of your Hong Kong career
With more investors focusing on environmental, social and governance (ESG) issues, the clean technology sector is booming in Asia. While the debate continues on how committed China is to becoming ‘green’ or whether the growth of solar PV manufacturing there is for domestic use or export, the fact remains that in 2010 China invested more [...]
Daily Dispatches: High school teeny boppers are sought after by Korean banks
No more prejudice: Korean banks have doubled their hiring quota for high school graduates. (The Korea Herald) Standard & Poor’s says South East Asian banks will “remain healthy”. (Reuters) Singapore’s wealth fund GIC invests more in emerging markets. “Outside the emerging economies, it’s a case of choosing between three very unpleasant outlooks in Europe, the [...]
Citi report calls on silver donut to slash staff
A new report by Citigroup analyst Wes Nason says if Macquarie made 1,000 redundancies, about 6.4 per cent of its workforce, it would help to boost the firm’s share price and annual returns. “While it has not been Macquarie’s historic path, in order to sustain competitive remuneration and help restore returns to industry standards, some [...]
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