Standard Chartered, one of the most active recruiters in Singapore’s banking sector, has made two senior appointments into its foreign exchange division.
It has promoted Chris Allington to global head of FX and hired Neh Thaker as global head, options and platforms.
Thaker’s move demonstrates Standard Chartered ability to pull people from the bulge bracket in Asia. He joins from Bank of America Merrill Lynch, where he has worked his whole career.
Both appointments also show the continued importance of Singapore to Standard Chartered, which, although headquartered in London, earns about 90% of its income and profits in Asia, Africa and the Middle East. Recruiters in Singapore say FX is one of the few bright spots in investment-banking hiring in Asia.
Spending up (WSJ)
Lenders from around the world are fuelling a boom in short-term loans across Asia.
China chief (Shanghai Daily)
Huaibang, the former head of the Bank of Communications, has been appointed Party Secretary of China Development Bank.
Pulling back (FT)
Some of the world’s biggest commercial banks are pulling back from selected operations in fast-growing markets in the Middle East and parts of Asia.
Third works (Asia One)
There are no further plans to tighten the foreign worker policy in Singapore unless their numbers rise well above the targeted one-third level.
Government banking (Sydney Morning Herald)
Westpac is eyeing opportunities to sell banking services to governments.
Income poor (Straits Times)
Many Singaporeans risk retiring asset-rich but income-poor, according to a new report by Manulife Asset Management.