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Daily Dispatches: BoA wants to build in China

Bank of America plans to expand its business in China and the rest of Asia, chief executive officer Brian Moynihan said during his first visit to the region since taking over at the beginning of the year, but offered few details. (Wall Street Journal)

DBS is reportedly among the foreign banks that will open more branches in Taiwan this year. The Commercial Times says foreign banks, including DBS, Standard Chartered and HSBC will open at least 30 branches in Taiwan this year. (938 Live)

Two senior executives are to leave AIA, the Asian businesses of stricken US insurer AIG, just weeks after its US owner announced plans to sell the company to the UK’s Prudential for $35.5bn. Mark Wilson, AIA chief executive, told Hong Kong staff on Wednesday that Steve Roder, chief financial officer, and Peter Cashin, chief legal counsel, intended to quit the company, people familiar with the matter said. (Financial Times)

Mark Robinson, Citi’s head of South Asia for the past 15 months, has left the bank for a senior regional role at ANZ. Investment banking head Pramit Jhaveri is tipped to take over. (Finance Asia)

Chinese consumers spent more using their bank cards last year, indicating rising confidence, according to UnionPay, China’s sole bank card transaction operator. (Shanghai Daily)

AMP chairman Peter Mason has used AMP’s annual report to reinforce the company’s continued interest in acquiring AXA Asia Pacific’s Australia and New Zealand operations. (Money Management)

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