SG
Sector: FX & Money Markets
Daily Dispatches: Here’s where UBS is hiring
UBS has made a series of senior hires and internal promotions on its foreign exchange desk in Tokyo as it seeks to capitalise on Japan’s resilient currency flows. (Finance Asia) China has signed off a set of rules for its small but booming wealth management sector to temper rapid growth and prevent banks from exploiting [...]
If Nomura doesn’t want its commodity traders, plenty of banks do
Commodities traders in Asia who were suddenly and unexpectedly made redundant from Nomura last week should soon by snapped up by other banks. The firm says global job losses from its commodities team are in the “low double digits” – it does not breakdown the figures regionally. But even this handful of layoffs comes as [...]
The China Column: Is your career yuan-enabled?
Bank of China has launched trading in yuan to US customers. Although there is still a long way to go before the yuan is fully convertible, the BOC move is a milestone in Beijing’s agenda to foster the currency’s globalisation, making it more accessible to individuals as well as businesses in the US. Chinese regulators [...]
Daily Dispatches: DBS to build in private banking
Singapore’s DBS Bank has appointed Tan Su Shan as head of private banking, including asset management, to succeed Amy Yip, who remains Hong Kong chief executive at DBS. One of Tan’s immediate priorities will be to build the team, including making some senior hires, says a DBS spokeswoman. (Finance Asia) ANZ aims to add as [...]
FX employment holds firm in Asia
Foreign exchange (FX) professionals are still in demand in Asia. The sector is comparatively profitable and liquid, layoffs are limited, and small-scale hiring is still happening. But currency jobs are unlikely to save bankers in less buoyant industries – firms only want candidates who already have an FX background. “I haven’t seen many redundancies at [...]
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 [...]
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 [...]
For sale sign up at ABN AMRO Australia
Who’ll buy ABN AMRO’s Australian unit? And what will happen to its 700 local staff? With a reported AU$1bn price tag, and most banks struggling to find cash at the moment, sale advisers Lazard Carnegie Wylie certainly have their work cut out. Analysts regard ABN AMRO’s mergers and acquisition division as one of the key [...]
Lehman and Bear to draw blood in Asia?
Will the crisis at Bear Stearns, and Lehman’s plan to axe 5% of its global workforce, mean heads will roll in Asia? Lehman is making no formal comment on the plans but it’s understood that while cuts will be made across all businesses in all regions, the majority of the redundancies will bite in the [...]
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