Augusto King, Asia head of debt capital markets at Royal Bank of Scotland, has resigned from the firm after nine years. The news comes as another blow to RBS, which recently announced that it was cutting bonuses for 2012 and clawing back bonuses for previous years to cover its $612m Libor fixing fine. King is a banker of stature who helped establish the bank’s debt franchise in the region, including its offshore renminbi business. He is reportedly going to another bank in a debt capital markets role and will remain based in Hong Kong.
More about Singapore, “the world’s newest Monaco”, becoming a playground for millionaires. (WSJ)
BNP Paribas plans to double Asian private banking assets and revenues over the next three to five years. (Bloomberg)
SWIFT, the financial messaging provider, has opened a new corporate services centre in Kuala Lumpur, Malaysia. (Asian Banking & Finance)
Banks across Europe are racing to amend executive pay deals by the end of the month in an attempt to adhere to new EU bonus rules and secure shareholder approval at upcoming annual meetings. (FT)
You are most likely to pass the CFA exams if you have both worked in finance and been educated in finance, but you still have a fair chance if you’ve done neither. (300 Hours)