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Daily Dispatches: Goldman i-banking boss to retire

Goldman Sachs co-head of investment banking for Asia, Ravi Sinha, is retiring from the bank in June and will be replaced by David Ryan, currently the investment bank’s chairman for Southeast Asia. (Reuters)

Barclays Wealth hired Helen Pun as Hong Kong market head on April 8, to manage the team of private bankers covering the territory. Head of North Asia Joanna Chu, to whom Pun reports, previously held those responsibilities. (Finance Asia)

Citigroup, which was forced to scale back its Asian ambitions as a result of its bail-out by the US government, is looking to boost its presence in the region by opening 100 “smart banking” branches that use state-of-the-art technology to make banking more appealing. (Financial Times)

China’s banking regulator told lenders to report on their risk exposure to borrowers including local-government companies by the end of June to help prevent the nation’s record credit boom from causing more bad loans. (Bloomberg)

The Bank of Communications yesterday opened its second rural bank in Zhejiang Province with a registered capital of 150 million yuan (US$22 million) as it expands its presence in the rural sector. (Shanghai Daily)

Global private equity firm The Carlyle Group has raised more than $US2.5bn (A$2.7bn) for its third Asian fund to take advantage of the Asia-Pacific’s strong bounce from the global financial crisis. (The Australian)

Singaporeans are complaining that employers prefer to hire foreigners over them. But investigations by a tripartite panel that looks at work discrimination issues found that the accusations were invariably unfounded. (Asia One)

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