SG
More mainland M&A deals mean more M&A jobs at Moelis and other boutiques
M&A in China continues to grow, despite challenging global economic conditions. Overall mergers activity in the mainland went up by 5 per cent in 2011 to 5,364 deals, the highest annual total ever, according to a recent report from PricewaterhouseCoopers. Chinese state-owned enterprises and private companies are all joining in this trend. They need experienced [...]
Daily Dispatches: Big bonus claw back at UBS
In another move to rein in compensation, UBS has notified employees it will claw back part of the bonuses due to its best-paid investment bankers, according to a person familiar with the matter. (Wall Street Journal) Deutsche Bank has told employees it will impose a US$266k cap on bonuses paying out this year, said three [...]
Daily Dispatches: Noble Group hires ex-Goldman Sachs partner
Hong Kong’s Noble Group has hired former Goldman Sachs partner Yusuf Alireza as its chief executive. The announcement comes as little surprise. Alireza quit Goldman in mid-November, just days after Noble’s previous chief executive Ricardo Leiman resigned, and it was widely expected that he would end up at Noble. (Finance Asia) UBS said on Tuesday [...]
Behold: A job sector in Asia that is very much alive and kicking
Asian insurance recruitment looks set to continue its winning streak into 2012, in stark contrast to its banking brethren. Stella Tang, associate director, Robert Half International, Singapore, is seeing open roles in general and life insurance, reinsurance and in brokerage firms. “Insurance has always been pretty robust both this year and last year. There has [...]
Daily Dispatches: Loads of banks trimmed pay in 2011; Lloyd Blankfein champions a new cause
Barclays, Lazard and Deutsche Bank have all slashed 2011 compensation. (Bloomberg Businessweek) Goldman Sachs’ chief executive Lloyd Blankfein is the new corporate face of gay marriage. (The Independent) DBS will not cut staff in Hong Kong and China. It’s also looking to hire hundreds of people on the mainland and open 10 new outlets annually. [...]
Do ING insurance employees face an uncertain future in Asia?
The prospective sale of ING’s Asian insurance business has heated up with the news that AIA, Asia’s third largest insurer, is expected to hire Deutsche Bank and Morgan Stanley for a bid. What will this mean for ING’s employees, particularly in Hong Kong, its regional headquarters? Staff could be let go – or not Retrenchments are [...]
Daily Dispatches: RBS tries to avoid future bonus backlash
Royal Bank of Scotland has set up a team of people to look at how the pay packages of chief executive Stephen Hester and other senior executives should be modified to avoid future confrontation with politicians over big bonuses. (Financial Times) It’s like Christmas all over again – for a lucky handful at least. In [...]
Daily Dispatches: ANZ’s Chinese expansion continues; Goldman Sachs and Comgest make senior hires
ANZ continues to grow in China even as it cuts in Australia. (The Wall Street Journal) Goldman Sachs appoints Matthew Westerman and Dan Dees as co-heads of the investment banking division in Asia Pacific ex-Japan. (FinanceAsia) Comgest nabs its first Asia-Pacific head of business development from First State Investments. (AsianInvestor) Most wanted: Bidders for the [...]
Daily Dispatches: Samsung Securities slashes half its Hong Kong staff
Samsung Securities yesterday confirmed that it is significantly reducing its presence in Hong Kong and will shift the focus of its international business towards Korean equities. The number of employees in Hong Kong will be cut by more than half from about 100 at present, it said. (Finance Asia) More people were employed in Singapore [...]
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 [...]
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