As Singaporeans go to the polls today (and enjoy a public holiday in the process), here are some of the key moves in Singapore and across Asia over the past week that we think you need to know about.
Standard Chartered names new Singapore CEO
Standard Chartered has named Judy Hsu as CEO of Singapore, taking over from Neeraj Swaroop. Hsu, currently Stan Chart’s head of the global wealth management, will start her new job from 1 October and will remain responsible for wealth management for a transition period. Swaroop is leaving the bank. Stan Chart CEO Bill Winters has been reshuffling the bank’s senior management team since June.
Credit Suisse loses several senior bankers
Five senior investment bankers will be leaving Credit Suisse in Asia as the Swiss bank undergoes a shift of strategy away from investment banking and towards managing wealth for rich clients. They are: David Cheng, head of corporate finance for Asia; Jan Metzger, Asia-Pacific head of technology, media and telecommunications; Catherine Liu, head of media and technology for China; Harry Zen, a Jakarta-based director in the investment banking division; and Abhishek Pandey, a Singapore-based director in the investment banking division.
Haitong Bank hires new head of Chinese thematic research
Miranda Carr has joined Haitong Bank to become a senior analyst and head of Chinese thematic research. Haitong Bank is part of Chinese investment bank Haitong Securities. Prior to joining Haitong, Carr founded her own independent consultancy Mulan Advisory & Investment, which researches China’s impact on the global economy and investment markets.
J.P. Morgan appoints head of Asia FX strategy
Jonathan Cavenagh has joined J.P.Morgan from Westpac to take up the role of executive director, head of EM Asia FX Strategy. He will be based in Singapore, working on research and investment recommendations for emerging markets Asia currencies. Cavenagh was most recently chief Asian strategist at Westpac.
HSBC makes senior hire in APAC
HSBC has appointed Andrew Maynard as head of sales trading and execution services for its equities business in Asia Pacific ex-Japan. Maynard joins from CLSA, where he was global head of trading and execution services. Prior to that, he worked for about 16 years at Bank of America Merrill Lynch. Based in Hong Kong, Maynard will report to Rakesh Patel, co-head of equities for Asia Pacific.
Citi creates new role for Asia central banks
Citi has named David Ratliff as Asia Pacific head of public sector banking, a newly created advisory role focusing on clients like sovereign wealth funds and central banks. Ratliff will be the main point of contact at Citi across a range of functions and desks including investment banking, corporate banking, markets and securities services.
Soc Gen names new APAC DCM head
Societe Generale has named Laurent Morel as head of debt capital markets (DCM) in Asia Pacific. Morel is taking over from Yves Jacob, who is moving to take charge of the bank’s relationships with global financial institutions. Now based in Hong Kong, Morel first joined Soc Gen in 1994 in Paris.
Goldman banker goes to boutique
Hsin Yue Yong, a former Goldman Sachs banker, has joined Wilmar International — the world’s biggest palm-oil processor. Yong was previously Goldman’s head of Southeast Asia investment banking. She joined Wilmar in July as general manager for special projects, a role centred around strategic development and dealmaking which could involve mergers and acquisitions.
Citibank appoints new head of retail banking for Singapore
Citibank has promoted Charles Wong to head of retail banking for Singapore. He will also be overseeing wealth management, bancassurance, and sales and network distribution. Prior to the promotion, Wong was the regional head of Citibanking, Citi@Work and global banking. In his new role, he will report to Citibank Singapore CEO Han Kwee Juan.
Vontobel gets one more relationship manager
Boutique private bank Vontobel has hired Tony Lai as an executive director and senior relationship manager, bringing its total number of private bankers in Asia to six. Lai joined in late August from EFG private bank, where he had been chief of staff since 2013. Based in Hong Kong, he will report to Alex Fung, CEO for Asia. A niche player, Vontobel only entered Asia in 2013 and has just 20 staff there, all based in Hong Kong.