J.P. Morgan has lost a leader in Southeast Asia. Philip Lee, who was appointed head of investment banking for the region in 2001, has resigned after nearly 18 years with the US bank.
Although Loh has not been directly replaced, there’s no confirmation of Lee’s potential role at Deutsche. However, Lee’s experience and networks, and the fact that investment banking revenues have been strong in Southeast Asia since last year, suggest he would have negotiated a senior position.
Singapore salaries (Straits Times)
The bosses of the three local banks in Singapore were among the top earners in the country last year.
Bond boom (WSJ)
Asian bond issuance is running at record pace this year.
Asian profits (Citigroup first quarter results)
Asia is now Citigroup’s second most important source of investment banking profits after North America.
Low loans (Shanghai Daily)
China’s banking regulator has ordered commercial banks not to raise the loan amounts for local government financing platforms in a bid to curb risk exposure.
Leaving list (Asia One)
How to know if you should resign.
Asian applications (Asian Banking & Finance)
Over 100 firms vie for new Indian banking licenses.
Cash back (Sydney Morning Herald)
Australian councils that invested millions with Lehman Brothers stand to get up to half their money back under a new proposal from liquidators of the failed investment bank.