US officials have now turned the spotlight on Morgan Stanley for its hiring practices in China, according to an exclusive on Reuters.
The bank joins JPMorgan in the US Justice Department probe into whether the hiring of the relatives of high-ranking Chinese officials by US firms contravened US bribery laws.
INSEAD says that Singapore is the second most competitive nation in the world (after Switzerland) when it comes to producing, attracting and retaining talent, according to an article in the Business Times.
The Lion City is the only Asian country in the top 20 of the rankings out of 103 countries surveyed in the Global Talent Competitiveness Index, which was launched this week by the business school.
Bloomberg reports that a private equity firm backed by the China Development Bank may evaluate an investment in Hong Kong Mercantile Exchange Ltd, which suspended operations this year.
The exchange surrendered its trading license in May after failing to attract enough revenue to support operations.
Singapore’s DBS Group Holdings and ABN AMRO are among the final bidders for Societe Generale’s Asia private bank as smaller players exit the region’s competitive private banking business.
A successful deal would make it the third major transaction in Asia’s competitive private banking landscape since the global financial crisis, as smaller players struggle to generate enough revenue to support expensive bankers and rising regulatory costs.
Asian Investor reports that the Ontario Teachers’ Pension Fund, which has $128 billion under management, is looking to expand its international portfolio, particularly in Asia, and has opened its first office in the region in Hong Kong.