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Daily Dispatches: salary hikes expected at foreign banks in China

Overseas banks have scaled back their previously aggressive recruitment plan but employees can expect a bigger salary as the lenders continue to be optimistic on the Chinese economy, according to an industry survey. (Shanghai Daily)

DBS has reported a 23% rise in first-quarter net profit on an increase in non-interest income and an overall improvement in credit quality. (Wall Street Journal)

Mark Williams, the head of equity capital markets for Asia at UBS, has resigned and will join Nomura as head of ECM for Asia ex-Japan, sources familiar with the move said yesterday. (Financial Asia)

Life insurers here such as Manulife are recruiting big time and their efforts may get a boost from the uncertainty facing some 4,000 AIA agents worried about the takeover by Prudential. (Asia One)

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