BNP Paribas Investment Partners is planning to hire senior sales staff, says Asian Investor, after a flood of departures in recent months.
The firm has also merged its sales and client servicing teams in response to a near 25% decline in assets under management in Asia between June 2012 and September this year to $56 billion.
Four senior sales staff will be recruited for Hong Kong, and one in Singapore. The ideal candidates will be specialists in insurance, private banking, greater China and institutional.
Banco Santander has paid €470 million to buy HSBC’s 8% interest in Bank of Shanghai as part of its strategy to rebalance its business from Europe and Latin America to Asia, reports the Financial Times.
A permanent group of Santander staff will be sent to work in China. The FT says the latest transaction builds on a deal signed off by Chinese regulators earlier this year to buy a fifth of Bank of Beijing’s consumer finance arm, alongside an existing car financing joint venture it owns with Anhui Jianghuai Automobile, a Chinese carmaker.
Australia’s ANZ Bank has apparently hired a coal trading team from a unit of Thailand’s PTT to boost sales and marketing staff, says Bloomberg.
Statistics New Zealand is planning to cut a quarter of its senior managers – 12 of 50 managers – as part of a leadership shakeup, Bloomberg reports.
The agency currently has a total 1,118 staff based in Auckland, Wellington and Christchurch.
Japan’s Nomura Holdings plans to hire about 20 bankers in the US to regain lost share of the world’s largest mergers and acquisitions advisory market, Bloomberg reports.
The company will seek people to work on leveraged lending and building relationships with private-equity firms. Others will be recruited to cover the hotel, real estate, casino and gaming industries.