SG
Sector: Capital markets
Never mind the unexciting IPO market; ECM bankers are not yet an unwanted species in Asia
Sentiment has been lukewarm at best in the IPO markets of Hong Kong and Singapore, but there are still jobs out there for ECM bankers, especially in Hong Kong. Most of this year’s offerings in Singapore have traded below offer prices – with only five out of 12 IPOs closing above their offer prices, according [...]
Will China Everbright generate more IPO-related jobs?
These are exciting times for Hong Kong and China’s initial public offering (IPO) market, as activity there picks up. Just six months after China Everbright Bank raised US$3.3bn in its Shanghai IPO, the firm recently announced it plans to list in Hong Kong. The offering, estimated to be a cool US$7bn, is touted to be [...]
Deutsche gets ready to raid Citi
Now may be a good time to get your CV to Deutsche Bank – especially if you work for Citigroup. A major recruitment drive is expected at Deutsche in Hong Kong as the German giant gears up for its third-quarter 2010 move to Kowloon’s International Commerce Centre. And Citigroup high fliers could be top of [...]
Do the richest bankers live in Singapore?
‘ Forget Hong Kong, is Singapore the best place to live if you’re wealthy in South East Asia? Measured in terms of the choices of wealthy residents, it looks like the answer will soon be yes. According to a report from Barclays Wealth, Hong Kong currently has the world’s highest density of households with wealth [...]
No jobs pinch at Merrill Lynch
Merrill Lynch’s boss has eased the fears of Asian staff by confirming that the region will largely escape his bank’s global cull. Chief executive John Thain told a press briefing in Mumbai that the 4,000 job cuts taking place across the group will mainly affect the US. Prakash Krishnan, a Merrill marketing manager, tells us [...]
Bubbling demand for junior M&A bankers
The credit crisis is taking its toll on capital markets, but M&A bankers are still hot property. Morgan Stanley is the latest bank to capitalise on Asian opportunities – it announced last week that it’s transferring Scott Matlock, a senior London M&A banker, into a new position as chairman of M&A Asia. Matlock’s a senior [...]
Banks freezing, not firing in Asia
Banks may be busy slashing staff in London and New York, but Asia looks set to avoid the worst of the cutbacks. Merrill Lynch, which last week announced an additional 3,000 redundancies globally, does not plan to make significant reductions in Hong Kong and Singapore, according to a spokeswoman. “While there may be some minor [...]
UBS staff spooked in Singapore, but staying put
Staff at UBS in Singapore are sprucing up their CVs as job-cut rumours start to spread. One recruiter, who asked not to be named, says a few UBS bankers have already been in touch to discuss their careers. “I’ve definitely seen more résumés coming across my desk this month. There are certainly interesting things going [...]
Want to leave? Pay back that bonus
Investment banks are coming up with innovative ways to keep some staff on their payrolls, even while they let go of others in the wake of the credit crunch. This inventiveness mostly takes the form of long-term stock grants, or measures that let banks defer cash expenses in hopes that revenue growth will pick up [...]
What will happen to Bear Stearns’ Asian staff?
Confusion and insecurity reign supreme among the beleaguered Bear Stearns teams in Asia, as cashed-up suitor JPMorgan continues to sift through the ashes of the failed bank. While the US giant continues to brickwall on its plans for the Bear Stearns teams, one Singapore recruiter says the bank has imposed a short-term headcount freeze on [...]
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