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Daily Dispatches: Morgan Stanley poaches from SCB

Morgan Stanley is making a big push into convertible bonds in Asia with the hire of five industry specialists, including a highly regarded sales trader and two origination bankers from Standard Chartered. (Finance Asia)

The Monetary Authority of Singapore (MAS) on Thursday announced new plans to tighten leadership at local banks and insurers, asking for both more independent and more knowlegeable people to sit on their boards. (Asia One)

Bankers, accountants and lawyers have been leading the recovery in the Australian jobs market while shop assistants and truck drivers who resign are not being replaced. Employment in the finance sector, which was at the centre of the global downturn, has completely recovered, with the same 411,000 people employed now as in August 2008, before the crisis developed. (The Australian)

Nomura’s goal of building a worldwide mergers and acquisitions franchise is one many of its London-based bankers should be familiar with. In Europe, the bank has been recruiting bankers for sectors such as oil and gas and financial institutions, while in the US, plans are under way to hire across all 11 main industry groups. (Financial Times)

Deutsche Bank has hired the president of Mitsubishi Corp.’s fuel-trading unit, Kenichiro Yamaguchi, to meet growing demand from Japanese power utilities for hedging commodities against price swings. (Bloomberg)

A New Zealand investment banker who spent millions of stolen dollars on prostitutes was caught after one of his clients watched a documentary on US fraudster Bernie Madoff, a court was told yesterday. Stephen Versalko, 51, was sentenced to six years in prison for stealing nearly $NZ18 ($14million) over nine years from 2000. (Daily Telegraph)

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