Standard Chartered has boosted its public-sector investment banking coverage by hiring one of the leading HSBC bankers in the field into a senior regional role.
Jason Ving joined Stan Chart’s Corporate and Institutional Banking division (CIB) in Singapore last month as regional head of public sector, ASEAN and South Asia, according to his public profile.
He was previously a director, public sector banking, at HSBC and worked from the firm’s offices in Hong Kong and Singapore.
Ving’s move suggests that Stan Chart continues to hire in certain coverage sectors, despite reports earlier this year that it is redeploying some of its Asian industry-coverage bankers (others have been cut) into relationship manager roles in corporate banking, in a push to increase vanilla lending to key clients.
He joined the CIB division shortly before it posted a fairly healthy 7% year-on-year increase in Q1 income to $1,742m, following more than two years of restructuring in Singapore and globally.
Ving had been working for HSBC since 2012. He spent the first half of his stint there in the Hong Kong-based financial institutions team and moved into his public sector role in 2015. He began his career at Lloyds Banking Group in London in 2005, where he became an associate in debt capital markets before relocating to Hong Kong with the same bank in 2009.
His new firm, Standard Chartered, has been one of the more aggressive recruiters across job functions in Singapore during the busy post-Chinese New Year hiring season. It recently took on Nakul Beri, an experienced non-resident Indian banker, from Safra Sarasin, for example.
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