Goldman Sachs partner Steven Barg is leaving his Singapore-based job as co-head of investment banking for Southeast Asia to take up a new position in New York. Coincidentally, according to Goldman, Barg is departing just as Kate Richdale, a banker with a strong client base in Singapore and Southeast Asia, joins Goldman as head of investment banking services for Asia ex-Japan.
Many more cuts at HSBC. (FT)
Shanghai wants to allow foreign hedge funds to raise yuan capital on the mainland to make investments in overseas securities. (South China Morning Post)
Mukesh Ambani set to quit Bank of America board. (Times of India)
Bank of China boss quits to become head of China’s securities regulator. (Shanghai Daily)
Vietnam helps Canada reform its banking system. (Asian Banking & Finance)
Hedge fund pay rose 15 percent last year. Employees of the best performing hedge funds took home $200k bonuses. (FinAlternatives)