Asiamoney - China Coverage

Hong Kong

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HKEx consults market on renminbi futures

02 Sep 2010 Structured products, Foreign exchange
The operator of Hong Kong's stock and derivatives exchanges is consulting the market over the introduction of renminbi futures. The tools would greatly help companies hedge currency risk, and help spur more liquidity in the offshore market for the currency.
J.P. Morgan names new Asia commodities chief

02 Sep 2010 Commodities, Market move
The US bank has appointed Ray Eyles to be its new CEO for commodities in Asia. He replaces Oral Dawe, who has retired from the bank.
BarCap bulks up Asia equity research team

01 Sep 2010 Broking, Market move
The UK investment bank announced six appointments to its regional equity research team, as it aims to expand in the equities market in Asia.
Credit Agricole shifts Lainé to head Asia FIG

01 Sep 2010 Investment banking, Bonds, Market move
The French bank has moved Frédéric Lainé to a new role heading financial institutions group coverage in its investment banking division. Lainé was formerly head of Credit Agricole's fixed income markets in the region, a position being taken by Graham Williams.
BoA-Merrill anoints equity retail sales chiefs

31 Aug 2010 Structured products, Market move
The US bank has internally appointed Arif Mansuri and Benjamin Tsai to replace the recently-departed Abhinav Gorawara in running equity structured solutions and third-party distribution.
Citi appoints new head of electronic platforms for Asia

30 Aug 2010 Cash management, Market move
The US bank has hired Endre Markos from Bloomberg to head electronic markets and platforms for its securities and fund services business, as the bank aims to gain a greater share of online trading in the region.
Study finds variations in algo performance

27 Aug 2010 Stock & exchange
An analysis of algorithm transactions carried out by trading technology provider Tora discovered a weaker performance from Singapore and Hong Kong than Japan. Levels of liquidity and volatility were key factors for the difference in performance.
Four UBS bankers follow Henry Cai to Deutsche

26 Aug 2010 Investment banking, Market move
The Swiss bank has had four recent departures from its China investment banking department to join Deutsche Bank. They are expected to start in October.
Nikko AM’s Pickerell plans pan-Asia growth

26 Aug 2010 Interviews, Asset management
The Asian veteran fund manager has been appointed by the Japanese fund management firm to grow in the region. He tells asiamoney.com why it is such a good time to be planning such expansion.
HSBC hires six in renewed enthusiasm for equities

25 Aug 2010 Broking, Market move
The UK bank has hired six people into different Asian markets to bolster its cash equities coverage. It is part of HSBC's latest drive to build its regional equities capabilities, following several failed attempts before.
Opinion: HSBC plans a pan-African adventure

24 Aug 2010 M&A, Editorial
The UK-headquartered bank has bid for 70% of South Africa's fourth-largest bank by assets, Nedbank. If it succeeds HSBC looks set to help Nedbank expand across Africa to take advantage of the continent's good economic growth and rising trade links with Asia.
University gets first real-time trading laboratory

23 Aug 2010 Structured products
International derivatives exchange Eurex has announced plans to set up the world’s first real-time finance trading laboratory at the Chinese University of Hong Kong. It will give students insight into the growing area of algo trading.
UBS reels in Wei Cai to replace Henry Cai

20 Aug 2010 Stock & exchange, Investment banking, Market move
The Swiss bank has hired Wei Cai from Morgan Stanley to replace the recently departed Henry Cai. While he lacks the lengthy track record of his predecessor, the new Cai will help bolster the bank's equity capital markets credentials on the mainland.
Citi hires Hodes and aims to expand investment division

20 Aug 2010 Market move, Private banking
The bank named Paul Hodes as Asia-Pacific head of traditional managed investment products for wealth management in a newly created role. It is seeking to expand its 175-strong investment products team in the region.
UBS Wealth Management hires India desk head

19 Aug 2010 Market move, Private banking
The Swiss firm has appointed Jaya Jayaram from Deutsche Bank Private Wealth Management as head of its India desk based in Hong Kong. She replaces Jagdish Upadhyaya, who is taking up another role within the bank.
Deutsche Bank adds Asian equity strategy team

18 Aug 2010 Stock & exchange, Market move
The German bank has appointed former hedge fund founder Ajay Kapur as head of Asian equity strategy in Hong Kong, along with Priscilla Luk and Ritesh Samadhiya. The trio all previously worked for Mirae Asset Securities.
EFG Bank lures Chien from UBS Wealth Management

18 Aug 2010 Market move, Private banking
The private banking subsidiary of Swiss firm EFG International has recruited Adeline Chien from UBS Wealth Management to focus on growing its Greater China business. The bank is eyeing ambitious growth in Asia private banking.
Bond benchmark points the way to intl renminbi

18 Aug 2010 Bonds
Hopewell Highway Infrastructure became the first non-Chinese company to issue an offshore renminbi bond last month. Its deal reflects an increased willingness from Beijing to internationalise its currency quicker than originally expected, and bankers and investors hope a slew of similar transactions will follow.
Banks go for broke in cash equities expansion frenzy

17 Aug 2010 Broking, Market move
Asia has witnessed a year of frenzied hiring from many investment banks and brokers, but underlying markets are having a woeful year. It paints a bleak picture for revenues.
Hong Kong needs more renminbi bonds, says Leung

16 Aug 2010 Interviews, Nations & economies, Bonds, Foreign exchange
Julia Leung, the Hong Kong government’s under secretary for financial services and the treasury, tells asiamoney.com that the city needs more foreign companies to issue offshore renminbi bonds.
SocGen sees surging demand for renminbi products

13 Aug 2010 Bonds, Foreign exchange
New offshore renminbi assets are highly likely to gain demand if Beijing allows more such instruments because of the likely appreciation of the renminbi, says Glenn Maguire, chief Asia economist at Société Générale.
Asia debt default worries downplayed

13 Aug 2010 Bonds
Concerns about rising default levels over the coming three years as a result of a massive amount of maturing corporate debt have been allayed now that economies are growing and investor appetite is on the rise.
Asian office rents rise for first time in two years

12 Aug 2010 Real estate
Rent costs for office space in the region rose 2.1% in the second quarter, ending seven consecutive quarters of decline, according to a new report. The growth reflects the resumption of multinational company expansion plans.
ING Investment Management names new Asia chief

12 Aug 2010 Asset management, Market move
The asset manager has announced the appointment of Grant Bailey as its new Asia-Pacific CEO, subject to regulatory approval. He succeeds Alan Harden, who ‘has decided to pursue a career outside ING’, the company confirmed.
Goldman hires top commodities analyst from Deutsche

11 Aug 2010 Investment banking, Broking, Market move
The US investment bank has appointed Julian Zhu as a managing director for commodities equity research. He is set to join after a period of gardening leave, and fills a post left vacant when Song Shen left the bank in March.
CLSA sees full renminbi convertibility in five years

11 Aug 2010 Nations & economies, Foreign exchange, Broking
Amar Gill, head of thematic research at the Asia brokerage believes the country could make its currency fully convertible in five years time, leading Hong Kong to peg the Hong Kong dollar to the renminbi.
Growth in HK renminbi market could cause conflict

10 Aug 2010 Foreign exchange
The relaxation of renminbi transaction rules last month could see exponential growth in the use of the currency in the city. While this should propagate the use of renminbi products Nomura believes that it could also undermine China’s capital controls.
HSBC’s O’Malley aims to catch up in natural resources

10 Aug 2010 M&A, Investment banking, Commodities
The bank has just brought a team of five from Deutsche Bank to bolster its resources and energy group in Asia-Pacific. Its new regional head, Peter O’Malley, is set on growing the business and concedes there is room for improvement.
Citi strengthens convertible bond franchise

10 Aug 2010 Stock & exchange, Bonds
The bank adds a trio of senior staff in Asia-Pacific in response to what it says has been an increase in flows across its convertible desk. It has also added two in London to support clients investing in Asian CBs outside the region.
ABN Amro bolsters Asia private banking team

07 Aug 2010 Market move, Private banking
The Dutch firm has appointed Jimmy Kee from Standard Chartered as its market manager for Singapore and Malaysia in what is a new role. It follows several key additions this year, including Mark Chan and Arjan de Boer.
Banks face shortage of available talent in Asia

07 Aug 2010 Investment banking, Broking, Market move
Regional banks are finding it increasingly challenging to fill the increase in job vacancies because of a lack of available candidates and intensifying competition to hire top talent, according to eFinancialCareers.
Esther Heer named deputy CEO of BSI Asia

03 Aug 2010 Market move, Private banking
Swiss boutique BSI announced two more hires from RBS Coutts in a continued Asia expansion. Heer is named deputy CEO of BSI Asia and CEO of BSI Investment Advisors (Hong Kong), while Ciro Ahmad is named deputy COO of BSI Investment Advisors (Hong Kong).
China H-shares may benefit from earnings pessimism

03 Aug 2010 Stock & exchange
Despite performing badly in the first half of the year shares of Chinese companies listed in Hong Kong should begin to do better because earnings expectations for the rest of the year are so low, according to Australian investment bank Macquarie.
Citi hires Smith to run Asia electronic execution product

03 Aug 2010 Stock & exchange, Broking, Market move
The US bank has snatched Ian Smith from Credit Suisse to be its head of electronic execution product for Asia Pacific. The bank is keen to improve in this area and is targeting a top-three position in the region within a year.
ICBC Asia privatisation puts Hong Kong banks on alert

31 Jul 2010 M&A
Industrial & Commercial Bank of China's decision to take its Hong Kong-listed international unit private has led to rising speculation that the Chinese lender could seek to acquire one of the city’s banks instead.
J.P. Morgan bolsters global trade practice

29 Jul 2010 Cash management, Market move
The US bank announced a raft of senior hires across its global trade business to capture what it expects to be unprecedented growth. Many of its recruits are new appointments in Asia-Pacific, indicating its view of the region’s rich potential.
A week in Asia’s business news

29 Jul 2010 M&A, Stock & exchange, Market wrap
China’s bank regulator warns that 23% of last year’s loans to local government vehicles could go sour, Citic Group looks to IPO in Hong Kong, Panasonic aims to buy out minority shareholders of two entities and New Delhi approves a sale of 20% of its largest electricity grid provider.
RBS hires four BoA-Merrill bankers for equity derivatives

28 Jul 2010 Structured products, Market move
The Royal Bank of Scotland has hired four bankers from Bank of America-Merrill Lynch to boost its equity derivative and structured products business in Asia.
Dollar bond issuance hits record high in July

28 Jul 2010 Bonds
Pent-up demand amid the second quarter has led to sky-high levels of US dollar bond issuance this month. Debt experts believe more deals will occur into early August, before a brief two-week lull.
Asia investors dipping into dark pools, says Liquidnet

28 Jul 2010 Stock & exchange, Broking
Dark pool provider Liquidnet enjoyed a surge in trading volumes in Asia during the first half. The company says Asian investors are become increasingly comfortable with using alternative trading venues as they lose their stigma.
Jefferies grabs senior CLSA equities duo in Asia push

26 Jul 2010 Broking, Market move
The upstart US investment bank is on a regional build-out, and has begun by hiring Michael Alexander, CLSA's global head of equity sales and trading, and Chris Schutte, its head of hedge fund sales.
Regional bank hiring back to pre-crisis levels

26 Jul 2010 Investment banking
Recruitment in the region’s financial services industry is returning to levels that were last seen before the global financial crisis, according to a new report. Salaries and bonuses are now being tipped to increase in the second half of 2010.
M&A activity offers ray of hope for Asia’s markets

26 Jul 2010 M&A, Stock & exchange, Bonds
There was a dispiriting slump in Asia ex-Japan’s equity and debt markets last week, with follow-on equity offerings almost half of the previous week’s. Nevertheless, regional M&A dealmaking has rallied 20% so far in 2010 year-on-year.
A week in Asia's business news

23 Jul 2010 M&A, Stock & exchange, Real estate, Nations & economies, Market wrap
Agricultural Bank of China's IPO debut is disappointing, San Miguel aims to sell a large minority stake in its Pure Foods business, while Fortis Healthcare fights Malaysia's Khazanah for healthcare group Parkway of Singapore.
Nomura hires Asia head of corporate and risk sales

23 Jul 2010 Structured products, Market move
The Japanese bank has hired Eng Chien Chan from Credit Suisse into a new role heading corporate and risk solutions sales for Asia. He is the latest of several hires as Nomura rounds out its regional fixed income presence.
Daiwa’s Suzuki faces down scepticism over Asia plans

23 Jul 2010 Investment banking, Interviews
The Japanese investment bank CEO Shigeharu Suzuki performed admirably when facing a barrage of questions over his bank’s Asia growth strategy. However, the jury is still out on whether the Japanese bank can succeed in expanding in the rest of Asia.
Opinion: AIG’s dithering shows it pays to be decisive

22 Jul 2010 Stock & exchange, Editorial
AIG’s indecision over how best to sell out of its AIA unit may come back to haunt the US insurer now that it has returned to its original plan of floating the life insurance business in Hong Kong.
Daiwa aims to treble Asia revenue outside Japan

22 Jul 2010 Investment banking, Market move
Shigeharu Suzuki, president and CEO of Daiwa Securities Group, says the Japanese bank aims to treble revenue contributions from Asia outside of Japan next year from current levels.
Mongolian firms seek US$3 billion in Hong Kong IPOs

19 Jul 2010 Stock & exchange
Hong Kong listings of Mongolian-focused companies could raise up to US$3 billion within the next three years, according to Eurasia Capital.
BarCap bristles at criticism of its China capabilities

19 Jul 2010 M&A, Stock & exchange, Investment banking, Interviews
Asia-Pacific investment banking head Matthew Ginsburg vehemently rejects unflattering comments about the UK institution’s strength in China. But he knows that deepening the bank’s coverage of the country is key for regional success, as recent hires indicate. Peter McGill reports.
Opinion: How Henry Cai's move affects Deutsche and UBS

19 Jul 2010 Stock & exchange, Investment banking, Editorial
The China rainmaker has been lured to the German bank after months of wooing. It will hope he can build the Chinese capabilities it needs, while his departure from UBS will put its strength and depth in China coverage to the test.
Citi names Andersson to head equity derivative sales

19 Jul 2010 Stock & exchange, Structured products, Market move
The US firm announced the appointment of Paul Andersson as head of pan-Asia equity derivative and convertible sales. It also promoted Nick Smith to become head of regional convertible bonds. Karina Vachani reports.
UBS hires co-heads of regional credit sales

15 Jul 2010 Structured products, Bonds, Market move
The Swiss firm has lured Justin Yang from Citi and Ben Jones from Goldman Sachs to become managing directors and co-heads of credit sales for Asia, asiamoney.com can reveal.
Credit Suisse hires DCM veteran Shum from BarCap

14 Jul 2010 Bonds, Market move
The Swiss bank has lured Anthony Shum from its UK rival to become a director in its regional debt capital markets team, asiamoney.com can reveal. The move compliments Credit Suisse’s desire to grow its fixed income personnel by 20% this year.
BNY Mellon aims to expand broker-dealer services

14 Jul 2010 Cash management, Interviews, Broking, Market move
The US financial services institution has relocated Michael Schroeder from New York to become regional manager for broker-dealer services in Asia. The move is part of a broader plan to build the division by up to 20% in 12 months. By Karina Vachani.
Hong Kong population Asia’s most affluent, says HSBC

13 Jul 2010 Stock & exchange, Bonds, Private banking
A survey commissioned by the UK-headquartered bank says that the city’s affluent people are on average the wealthiest in Asia, but that Taiwan’s well-to-do are the most vigorous investors in equities.
Asian private equity hopes for secondary buyout boom

12 Jul 2010 Private equity
The success of three secondary buyouts in Asia-Pacific’s private equity industry is raising hopes that conditions are returning to normal. But deal sizes are unlikely to return to the massive levels last enjoyed in 2008, writes mergermarket.
Stanchart hires Simon Brookhouse to head global equities

12 Jul 2010 Broking, Market move
The emerging markets-focused bank has hired the veteran banker to run both the cash and derivatives parts of its equities business from Hong Kong. He joins from boutique UK investment bank Execution Noble.
StanChart hires Welch to head cash equities sales

09 Jul 2010 Broking, Market wrap
The UK bank announced the appointment of Tom Welch as its new global head of cash equities sales. He joins from Deutsche Bank and will be based in Hong Kong.
BTIG’s new Asia-Pac CEO aims to double revenue

09 Jul 2010 Interviews, Broking
Jesse Lentchner, the new Asia-Pacific CEO of brokerage firm BTIG, is on the lookout to hire new talent in order to grow his business and double regional revenue within 18 months.
Opinion: Iron ore swaps offer a unique opportunity

09 Jul 2010 Editorial, Commodities, Broking
Regional demand for iron ore swaps is on the rise, leaving banks and brokers with no time to waste if they want to build their expertise and become market leaders.
BarCap hires two senior investment bankers in HK

07 Jul 2010 M&A, Market move
The UK bank has appointed Vanessa Koo as managing director of mergers and acquisitions for Greater China and James Lim as head of Asia-Pacific real estate, asiamoney.com can reveal. Koo joins from Goldman Sachs and Lim joins from BNP Paribas.
Opinion: HK competition bill is crucial for the city

07 Jul 2010 Editorial
After four years of public consultation and drafting, the city’s government finally unveiled its competition bill last week. It’s a positive step, but the law’s effective implementation will prove just as vital.
Hong Kong IPOs tipped to exceed HK$330 billion

06 Jul 2010 Stock & exchange
Despite the market volatility in the first half of the year, Hong Kong IPO volume could rise to HK$330 billion this year, according to projections from PricewaterhouseCoopers.
SHK Financial sees bull run in HK, China equities

06 Jul 2010 Stock & exchange
Global economic recovery concerns present a strong buying opportunity in Hong Kong and China equities for investors, according to Sun Hung Kai Financial. It believes a slowdown in Chinese growth will also spark a likely bull run.
HSBC Global Asset Management launches bond fund

06 Jul 2010 Bonds, Asset management
The fund will initially be focused on corporate and emerging market credit. It is initially launched in Hong Kong but will be offered to a wider audience later.
Daiwa underpins Asia ambitions with KBC acquisition

05 Jul 2010 Structured products, Bonds, Broking
The Japanese bank has acquired the global convertible bonds and Asian equity derivatives businesses of Belgium’s KBC Group. The acquisition underlines its desire to build a genuinely capable business in the region.
Deutsche makes fourth hire in hot commodities space

05 Jul 2010 Commodities, Market move
The German firm has made its fourth major commodities hire in recent months, bringing Stuart Smith on board as head of corporate commodity sales for Asia ex-Japan.
HKEx’s derivative hopes depend on renminbi reform

05 Jul 2010 Stock & exchange, Structured products
Hong Kong’s primary bourse wants to leverage on renminbi internationalisation to strengthen its derivatives business. But the currency needs to see many more changes before such hopes become realistic.
Pollard positive on RBS Coutts’ outlook

02 Jul 2010 Interviews, Private banking
RBS Coutt’s new Asia CEO Nick Pollard had barely taken in September 2009 over before 90 people left his Singapore office. But he has busily hired in the months since and now says he is confident that the bank can grow assets and customers.
Credit Suisse expands UHNW offering in Asia

02 Jul 2010 Market move, Private banking
The bank has added three senior staff to its Solution Partners team for UHNW clients in Asia-Pacific. One was an internal transfer and the others were external hires who have each worked at UBS Wealth Management.
BNY Mellon aims to bring crossing network to Asia

01 Jul 2010 Structured products, Bonds
The US-based firm plans to expand a recently-launched auction marketplace for fixed income securities across Asia in coming months. It argues the network will promote liquidity in credit instruments and ensure investor anonymity.
Fund managers clash on equity market outlook

01 Jul 2010 Stock & exchange, Asset management
The volatility of equity markets in recent weeks has led fund managers to differ over how to navigate the rest of the year. Fidelity International sees buying opportunities while Aberdeen Asset Management urges caution.
Dark pools to greatly deepen in Asia, says Nomura

29 Jun 2010 Broking
Robert Laible, head of Asia-Pacific electronic trading services at the Japanese investment bank believes that alternative crossing networks, or dark pools, will grow exponentially in the region as regulation catches up with the US and Europe.
Asia loan market tipped to benefit from volatility

29 Jun 2010 Bonds, Loans
The region’s syndicated loan market could benefit from volatility in other financial markets as borrowers tap loans to raise capital, according to Phil Lipton, HSBC’s head of regional syndicated finance.
BNY Mellon transfers Daniel Smith into key Asia role

29 Jun 2010 Cash management, Asset management, Market move
The asset manager named Daniel Smith as chief administration officer for Asia-Pacific in an internal transfer from its US business. He replaces Lee Stephens, who has relocated for a senior development role in BNY Mellon’s Washington D.C. office.
Investor fears force asset managers to go boutique

29 Jun 2010 Cash management, Asset management
Funds will be forced to adapt their business models as they deal with rising investor concerns about liquidity and capital protection, a new study has found. This is expected to spawn a multi-boutique approach by asset managers.
Nomura adds oil traders as part of commodities push

29 Jun 2010 Commodities, Market move
The Japanese bank has hired two oil traders as part of its desire to establish a broader commodities business in Asia.
Asian equities set to benefit from flexible renminbi

28 Jun 2010 Stock & exchange, Foreign exchange
China’s decision earlier this month to allow greater flexibility in its currency will have positive implications for equity markets across the region, according to a strategist at Daiwa Capital Markets.
Crédit Agricole CIB hires five in fixed income

28 Jun 2010 Bonds, Market move
The French bank says the new appointments are part of its planned expansion into debt capital markets and commodities, and it is still looking out for more talent.
Credit Suisse confirms six FX sales hires

25 Jun 2010 Foreign exchange, Market move
The Swiss bank has added six new FX sales people in Japan, Singapore and Hong Kong from various banks over the last three months in a bid to drive flow business in the region. All are at director level.
Primus Financial eyes further acquisitions in Asia

24 Jun 2010 M&A, Private equity
Robert Morse, chairman of Primus Financial Holdings, says the private equity firm is keen to make further acquisitions in Asia and reiterates the company’s commitment to the stalled purchase of AIG’s Taiwan unit.
Lee joins Deutsche as Asia head of GMIP

23 Jun 2010 Structured products, Market move
Christopher Lee started today as Deutsche Bank’s head of global markets investment products and db-X platform. He was reportedly attracted by a wider remit, having been head of equity risk management products at UBS.
Citi bolsters Asia global banking business

23 Jun 2010 M&A, Real estate, Market move
The US bank has appointed Matthew Mrozinski from Deutsche Bank as head of real estate banking for Asia, and Douglas Farrell from Nomura as a director in mergers and acquisitions.
Turnover in warrants and CBBCs could rise: HSBC

23 Jun 2010 Stock & exchange
Investor interest in warrants and callable bull bear contracts could continue to rise this year, says HSBC. The bank notes range-bound Hong Kong equities mean drops in implied volatility, making warrants less expensive.
UBS’ co-head of Asia equity derivatives trading dies

21 Jun 2010 Stock & exchange
Neil McCormick died in an accident in London over the weekend, asiamoney.com understands. He had been UBS’s co-head of Asia equity derivatives trading based in Hong Kong since September, alongside John Coffeng.
Deutsche to add 30 relationship managers in Asia

21 Jun 2010 Market move, Private banking
The bank is targeting 30 relationship managers to boost its Asia-Pacific private wealth management team in 2010, regional chief Ravi Raju revealed. The bank has added a dozen bankers in North Asia already this year, asiamoney.com can confirm.
BarCap focuses on equity derivatives e-trading

21 Jun 2010 Stock & exchange, Structured products, Broking
UK investment bank Barclays Capital has launched its new COMET electronic trading platform in Asia in a bid to capture higher volumes of equity derivative and structured product trades and improve efficiency.
M&A helps lift comatose capital markets

21 Jun 2010 M&A, Stock & exchange, Bonds, League table
Although M&A activity was far lower than a few ago, it nonetheless helped boost the otherwise tepid capital markets in Asia Pacific ex-Japan.
J.P. Morgan Private Bank names new Asia CEO

19 Jun 2010 Market move, Private banking
The US firm has announced the appointment of Andrew Cohen as CEO of its ultra-high-net-worth business in Asia-Pacific. He has led the private bank’s southern California business for four years and replaces Paul Scibetta, who will be transferred.
Asian dividends could rise to US$140 billion in 2010

19 Jun 2010 Asset management
Dividends paid to shareholders by Asian companies could rise to as much as US$140 billion this year thanks to continued economic and earnings growth in the region, according to fund manager Newton Investment Management.
Deutsche grabs top debt banker from Credit Suisse

18 Jun 2010 Investment banking, Bonds, Market move
The German lender has hired Michael Lam from its rival as head of North Asia debt capital market origination. At the same time, the bank will transfer David Greenbaum from its New York office to become his south Asia counterpart.
ETFs will expand in Asia, says Russell Investments

18 Jun 2010 Stock & exchange, Broking, Asset management
Index providers see rising opportunities in Asia as local investors increasingly seek exposure to stocks outside their home markets. Russell Investments believes it could lead to more exchange-traded funds.
NAB’s push into Asia trade speaks volumes

17 Jun 2010 Cash management, Interviews
The Australian lender is playing catch-up with rivals as it strives to capture trade and investment flows between Asia and Australia. A string of senior hires underline its latest strategic push, but it will have its work cut out amid intense competition.
A week in Asia’s business news

17 Jun 2010 Market wrap
Australia’s three largest miners unify to condemn new mining tax, while Hong Kong’s most expensive property sale falls through. Agricultural Bank of China’s IPO gains sovereign wealth backing, and the Chinese bank also ties up an alliance with Standard Chartered.
UBS sets sights on Asia’s domestic wealth markets

17 Jun 2010 Interviews, Private banking
In the second part of an in-depth interview, UBS Wealth Management’s Asia-Pacific CEO Kathryn Shih and Hong Kong chief Allen Lo discuss the potential for domestic growth and also defend the business against accusations of product pushing.
Asian equities are oversold, says US fund manager

17 Jun 2010 Stock & exchange
Russell Investments, a US-based fund manager, says that the downturn of Asian equity markets over concerns about the European sovereign debt crisis and US economic recovery are overdone and marks a buying opportunity.
Daiwa seeks to quadruple Asia e-trading team

17 Jun 2010 Investment banking, Interviews, Broking
Punit Mittal, the global head of the Japanese bank’s electronic trading tells asiamoney.com that the firm plans to quadruple the staff at its e-trading unit as it aims to expand in Asia.
Asia investment banking fees hit half-year record

15 Jun 2010 M&A, Stock & exchange, Investment banking, Broking
Investment banking revenues earned in Asia have hit a record for the first half of the year two weeks before the end of June. The strong figures are a reflection of robust equity and debt issuance as well as cross-border mergers and acquisitions earlier in the year.
Junk bond defaults to drop in Asia, says Moody’s

14 Jun 2010 Bonds
The international ratings agency predicts that default rates for non-financial corporate bonds in Asia-Pacific will fall sharply this year as credit market and economic conditions continue to improve.
A week in Asia's business news

11 Jun 2010 M&A, Stock & exchange, Investment banking, Nations & economies, Market wrap
Japan gets yet another prime minister, Agricultural Bank of China’s huge IPO looks likely to be smaller than expected, AT&T begins talks with Reliance Communications about buying a stake in the Indian company and New Zealand raises interest rates for the first time in three years.
Barclays Wealth urges barbell investment strategy

11 Jun 2010 Asset management
The wealth arm of the UK’s Barclays Bank is advocating portfolio insurance against short-term volatility, going long on equities and at the same time holding US Treasuries and long-volatility positions.
AgBank set to launch US$20 billion IPO this month

10 Jun 2010 Stock & exchange
Agricultural Bank of China is set to launch its potentially record-breaking IPO later this month after receiving approval from regulators yesterday. Pre-marketing for the deal will begin next week before officially launching on June 24, according to sources.
SocGen trebles Asia research with Japaninvest alliance

09 Jun 2010 Stock & exchange, Broking, Market move
French bank Société Générale has teamed up with Japaninvest Group in a trading and research alliance that effectively trebles the size of its regional research team to 25 analysts.
NAB adds quartet to boost Asian trade footprint

09 Jun 2010 Cash management, Market move
The Australian bank has announced four senior appointments to strengthen its business and institutional banking presence in Asia. It wants to benefit from growing trade and investment flows between Australia, New Zealand and Asia.
Asian hedge funds among hardest hit in May

09 Jun 2010 Hedge funds
All regional mandates ended in negative territory last month on the back of equity market volatility and euro-zone sovereign debt trouble. Hedge fund indexes for Eastern Europe & Russia and Asia ex-Japan sank the most, finds Eurekahedge.
UBS to target rivals for hundreds of hires: Kathryn Shih

08 Jun 2010 Interviews, Private banking
The Asia-Pacific wealth management arm of UBS has announced plans to add up to 400 client advisers this year. In the first of a two-part interview, asiamoney.com talks to regional CEO Kathryn Shih and Hong Kong CEO Allen Lo about issues ranging from hiring and banker retention to bonuses.
Citi hires new securities and fund services head

08 Jun 2010 Cash management, Interviews, Market wrap
The US bank has appointed Philippe Dirckx from Euroclear Bank as regional client and sales management head for intermediaries and infrastructures Asia-Pacific. It is an area where Citi sees opportunities for growth in a changing market place.
BoA-Merrill loses one senior sales trader, gains another

08 Jun 2010 Investment banking, Broking, Market move
Well-regarded sales trader Carter Ting has quit as a managing director of Bank of America-Merrill Lynch’s Hong Kong and China team, asiamoney.com can exclusively reveal. Separately, the US firm has hired Rebecca Fu as a sales trader from Knight Capital.
Asia structured products demand on rise, says Highland

04 Jun 2010 Structured products, Bonds, Asset management
The fixed income investment firm says the recovery of the structured products market is inevitable and hopes to launch a securitisation fund later this year for Asian investors to meet rising demand in the region.
RBS makes Ho ECM head after surprise Sturmey exit

03 Jun 2010 Stock & exchange, Investment banking, Market move
The Royal Bank of Scotland announced today (June 3) that it has promoted Stanley Ho to head of equity capital markets for Asia. He replaces John Sturmey, who returned to former employer UBS as co-head of Asia global capital markets.
A week in Asia's business news

03 Jun 2010 M&A, Stock & exchange, Energy, Broking, Market wrap
Japan’s prime minister resigns as his popularity plummets, UK insurer Prudential walks away from bid for AIA, Standard Chartered completes offering of Indian Depositary Receipts in Mumbai, and Etisalat looks to buy a major stake in Reliance Telecommunications.
Tora looks to link Asia dark pools together

02 Jun 2010 Stock & exchange, Interviews, Broking
The trading technology provider aims to partner with other crossing networks in the region to give investors access to multiple dark pools from one platform. But competitors are sceptical of its ambitions.
Asia’s wealthy confident of global recovery, says survey

02 Jun 2010 Stock & exchange, Bonds, Asset management, Private banking
Optimism about the global economic recovery is more pervasive among wealthy Asians than peers in the west, a new survey has found. Investors in the region also view the responses of their respective governments to the crisis more positively.
Citi moves Tokyo syndicate head to HK in debt push

01 Jun 2010 Bonds, Market move
The US bank has relocated Duncan Phillips from Tokyo to Hong Kong to co-head its Asia-Pacific ex-Japan debt syndicate team. He will be replaced in Tokyo by Matthieu Sachot from Dexia Group.
J.P. Morgan’s hedge fund services head eyes growth

01 Jun 2010 Cash management, Broking, Market move
The US bank is striving to build its hedge fund services business in Asia-Pacific to cater to rising demand among increasingly sophisticated funds. Its newly-appointed head for the region says that more hires are on the way.
Clariden Leu continues Deutsche raid

01 Jun 2010 Market move, Private banking
The Swiss bank confirms more senior hires as it seeks to strengthen its position in the region’s wealth markets. It enhances Asia CEO Jimmy Lee’s record of raiding his former employer, Deustche Bank Wealth Management.
Best domestic bank awards: Hong Kong

31 May 2010 Stock & exchange, Bonds, Polls & awards
ASIAMONEY is pleased to announce our best domestic bank awards for Hong Kong. Bank of China (Hong Kong) takes the prize as the top bank in the city following strong post-crisis performance. Taifook Securities takes back its crown as the top equity house, while HSBC continued domination of Hong Kong’s bond landscape entitles it to our best debt house award.
BNY Mellon outlines treasury and trade opportunities

28 May 2010 Cash management, Interviews
A. Richard Brown, head of BNY Mellon's Asia-Pacific treasury services business, explains about the natural integration of cash management and trade and why Asia presents some enticing opportunities.
A week in Asia's business news

27 May 2010 Market wrap
China’s president tells the US he favours gradual renminbi currency reform, Prudential’s bid for AIA falls under criticism, Indian billionaire brothers Mukesh and Anil Ambani sign a peace deal, and Singapore sovereign wealth fund Temasek appoints Hsieh Fu Hua as its new president.
StanChart global equity heads get ambitious in Asia

26 May 2010 Stock & exchange, Interviews, Broking
The emerging markets-focused bank’s new global head of equities and global head of equity capital markets tell asiamoney.com how they intend to overcome immediate challenges and build a thriving equity business in the region.
Investors flee to CDSs amid volatility

25 May 2010 Bonds
As volatility increases, Asian investors are increasingly turning to single name and index credit default swaps (CDSs) to hedge their risk. With no certainty in sight, one observer believes that the region’s credit markets are likely to trade in a narrow range over the coming week.
Opinion: Departures leave UBS's ECM dominance at risk

25 May 2010 Investment banking, Editorial
The Swiss bank’s leading position in the Asian equity capital markets is under threat after the departure of senior bankers in recent weeks. The bank needs to reassure its remaining bankers if others are not to follow them out the door.
Credit Suisse private banking reshuffle sparks confusion

25 May 2010 Private banking
The recent move to a flat structure in the firm’s Asia private banking business was met with surprise internally and confusion externally, asiamoney.com can reveal. The reasons for the shift have not been announced, but that does not stop the market speculating about it.
RBS aims to regain lost ground in Asia with new hires

25 May 2010 Investment banking, Market move
The Royal Bank of Scotland announced two hires today (May 25) to boost its investment banking business in Asia. The appointments are part of the bank’s strategy to regain ground it lost to rivals during the global financial crisis.
Credit Suisse hires regional prime consulting head

24 May 2010 Hedge funds, Broking
The Swiss bank has hired Vasundhara Pradeep as head of prime consulting for Asia Pacific as it tries to seize a larger piece of the prime broking pie in the region.
Opinion: German short selling plan bodes ill for Asia

19 May 2010 Stock & exchange, Editorial
The decision of the country’s market regulator to ban naked short sales on some equities and bonds is ill-conceived and might serve to undermine confidence globally. Asia will not be immune to these ripples.
Tax amnesties hold little fear for Asia, says Datamonitor

18 May 2010 Asset management, Private banking
Offshore financial centres in Asia are unlikely to be hurt by tax amnesties imposed in the US and Europe because of the diversity of their client base, says Datamonitor. Plus, the excellence of these centres means they are always likely to attract funds.
Opinion: Could the through-train get back into motion?

18 May 2010 Stock & exchange, Editorial
Hong Kong stock exchange operator CEO Charles Li’s comments about making the bourse a derivatives leader to benefit from China’s renminbi internationalisation is just part of the story. It could lead to a resurrection of the through-train investor concept.
Nomura hires head of primary private credits business

17 May 2010 Bonds, Market move
The Japanese bank has hired Prasson Dayal to head its newly-created regional primary private credits division. It follows a sustained push by the bank to raise its fixed income capabilities in Asia.
Crédit Agricole attempts bond origination push

17 May 2010 Interviews, Bonds
The French bank is hiring in bond origination and is focusing on G3 and local currency markets. In the latter, it is targeting India first. But the bank has a lot of catching up to do on rivals with similar aspirations.
Structured products poll reveals banks to beat

17 May 2010 Structured products, Polls & awards
Citi, HSBC and Credit Suisse were the big winners in our annual Structured Products Poll. But with the US government keen to enact tough regulatory reform of the derivatives market, the entire structured products universe could be a very different place in the coming year. Richard Morrow reports.
Chinese property firms chase bonds as risks rise

17 May 2010 League table
High yield property companies from the mainland flooded to market in April, leading to the largest monthly volume of high yield bond issuance in Asia in over two years. The region’s equity markets were also busy, despite volatile markets. Pamela Tang and Aaron Pan report.
UBS dominates Private Banking Poll 2010

17 May 2010 Polls & awards, Private banking
The Swiss bank takes top honours for all three main categories of Asiamoney’s largest Private Banking Poll. Deutsche, BNP Paribas, Maybank and Citi also did well.
Future wealth managers wanted for training, says UBS

17 May 2010 Private banking
The Swiss bank is inviting applications for its 2010 wealth management associate programme in Asia-Pacific. The stated goal of the scheme is to develop and enhance the standards of the region’s wealth management talent pool.
ANZ Private Bank hires Suen in Hong Kong

17 May 2010 Market move, Private banking
The bank confirms the appointment of Samuel Suen as head of north and north-east Asia after asiamoney.com enquiries. He is set to start on May 24 in Hong Kong and succeeds Craig Burgess, who relocates to Singapore.
HKEx aims to be derivatives giant in Asia: Charles Li

13 May 2010 Stock & exchange, Broking
The chief executive of Hong Kong Exchanges & Clearing (HKEx) says the stock exchange operator wants to become the leading market for derivatives in Asia ahead of the internationalisation of China’s renminbi.
HK market regulator wary of electronic trading

13 May 2010 Stock & exchange, Broking
The plunge in US stock markets last week caused by electronic trading platforms proves that Hong Kong should be cautious in embracing technological advances too quickly, warns Securities and Futures Commission chief executive Martin Wheatley.
Gold offers hedge against state insolvency, says SG

13 May 2010 Commodities, Bonds, Asset management
Investors concerned about rising government insolvency should seek out gold and inflation-protected bonds as investment hedges and avoid of overvalued equities, suggests Société Générale.
FTSE and Renaissance launch Asian IPO indices

13 May 2010 Stock & exchange, Asset management
The index company has teamed up with Renaissance Capital to launch two indices that focus on IPO performance in Asia. The creators believe they will lead to new exchange-traded funds, structured products and be used as benchmarks by funds.
RBS Coutts names new North Asia head

12 May 2010 Market move, Private banking
The private banking arm of the Royal Bank of Scotland has confirmed Ignatius Chong as head of private banking North Asia. His appointment follows the resignation of Esther Heer, as exclusively revealed by asiamoney.com.
KBW launches Asia business to tap financial services

12 May 2010 Investment banking, Interviews, Broking
US boutique investment bank Keefe, Bruyette & Woods (KBW) announced the launch of its Asian unit. Senior executives Thomas Michaud and Vasco Moreno tell asiamoney.com about their plans for the region.
Asia’s dark pools set to deepen, predicts BlocSec

12 May 2010 Stock & exchange, Broking
A series of firms have launched dark pools of liquidity in Asia since January to take advantage of the relative lack of alternative crossing networks. BlocSec’s Christian Chan tells asiamoney.com why dark pools are set to grow in Asia.
HK property prices to drop in short-term: Macquarie

12 May 2010 Real estate
The poorer-than-expected auction price of a piece of residential land in Tung Chung might signal weaker property prices in the Chinese territory.
Credit Suisse's SJ Hwang quits for Samsung Securities

11 May 2010 Stock & exchange, Market move
The Swiss bank’s head of institutional equity sales for Asia-Pacific has resigned to join Samsung Securities, asiamoney.com can exclusively reveal. He had worked at Credit Suisse for 16 years.
UBS promotes Mackay to head Asian ECM origination

11 May 2010 Stock & exchange, Investment banking, Market move
The Swiss bank has appointed Stuart Mackay as head of equity capital markets origination in Asia ex-China. He replaces Mark Williams, who resigned last week to join Nomura. Sam Kendall will also return to Hong Kong from London to become head of ECM syndicate.
New bond supply could reverse credit rally

11 May 2010 Bonds
Asian bond markets improved on the back of news about the European Union’s loan programme. But new bond supply and concerns over the long-term implications of financial assistance could reverse these gains.
Hsin joins CCB (Asia) as head of private banking

11 May 2010 Market move, Private banking
Ex-HSBC Private Bank deputy Yvonne Hsin has returned after a two-year absence as CCB (Asia)’s head of private banking, based in Hong Kong. She is tasked with building its wealth management platform from scratch.
BoA-Merrill snatches two ECM bankers from J.P. Morgan

10 May 2010 Stock & exchange, Investment banking, Market move
The US bank has hired Achintya Mangla and Aloke Gupta from rival J.P. Morgan as it bids to bulk up its regional ECM presence, according to an internal memo seen by asiamoney.com.
Fear for Asian IPO pipeline as Swire shelves flotation

10 May 2010 Stock & exchange
Swire Properties became the fourth company in the region to cancel its IPO last week amid turmoil in global stock markets. Observers now fear that the pipeline of new equity issues in Asia will disintegrate.
EU loan package to offer Asia markets brief reprieve

10 May 2010 Stock & exchange, Nations & economies, Foreign exchange
Analysts believe that the financial stability package hashed out by European ministers at the weekend will stabilise Asia’s markets and currencies this week, but remain concerned about the longer-term outlook.
Rothschild targets Asia expansion after senior hires

10 May 2010 Market move, Private banking
The Swiss private bank has appointed Peter Amandini as chief investment officer and Raymond Lee as chief operating officer in Hong Kong. The firm is in the process of applying to upgrade its rep office status with authorities.
Esther Heer quits RBS Coutts in Hong Kong

10 May 2010 Market move, Private banking
The long-standing head of private banking for North Asia, Esther Heer, left RBS Coutts last week, asiamoney.com can confirm. Although her destination is unknown, it will be a body blow to the bank and raise fears of an exodus.
Asia deal volumes fall as volatility rises

10 May 2010 M&A, Stock & exchange, Bonds, League table
The number of new equity and bond listings dramatically slowed down last week amid heightened investor risk aversion. Four IPOs were pulled while bond issues fell by half. Asiamoney.com rounds up the region’s capital markets activity.
Hong Kong CEO Wong resigns from CIMB

06 May 2010 Investment banking, Market move
Timothy Wong has quit for personal reasons as country head and CEO for Hong Kong at Malaysian investment bank CIMB Group. Separately, Bernard Teo has left Nomura’s financial institutions group for Asia ex-Japan.
Will ETFs ever reach their potential in Asia?

06 May 2010 Stock & exchange, Asset management
Demand for exchange-traded funds is rising in the region, but experts believe that educating investors and financially incentivising market-makers are both essential if the funds are to gain better traction.
Nomura unveils dark pool plans in Hong Kong

06 May 2010 Stock & exchange, Broking
The Japanese bank has announced plans to launch a dark pool facility in Hong Kong at the end of this month after receiving regulatory approval. It is seeking to tap into rising use of alternative crossing networks in Asia.
Williams quits UBS to join Nomura as ECM head

06 May 2010 Stock & exchange, Market move
Mark Williams has just resigned from UBS as co-head of Asia equity capital markets to join Nomura and head up the Japanese bank’s regional ECM franchise. His start date is yet to be confirmed.
BNY Mellon names regional head of depositary receipts

05 May 2010 Stock & exchange, Market move
The bank promotes Gregory Roath to head of Asia-Pacific depositary receipts, replacing Christopher Kearns, who relocates. BNY tips Asian issuers to continue dominating the global depositary receipts industry this year.
Deutsche Bank PWM replaces wealth planners

04 May 2010 Asset management, Market move, Private banking
The firm’s wealth management division has hired Teddy Chu and Andrew Chan from HSBC Private Bank to cover wealth planning for North Asia. It notes there is a huge generational transfer of wealth going on in Asia now.
CLSA says it will remain independent after Citic tie-up

04 May 2010 M&A, Broking
The respected Asian brokerage has stressed that a planned joint-venture with Citic Securities that was announced yesterday will not affect the quality and independence of its research or management.
Resources firms increasingly eye Chinese capital

04 May 2010 Stock & exchange, Commodities
Commodities companies with assets in Indonesia and elsewhere might increasingly be looking to list in Hong Kong. The draw is Chinese money and it is much easier to attract interest if you are listed nearby, observers say.
Citi Private Bank hires new China head

29 Apr 2010 Market move, Private banking
The bank’s private wealth management division has hired Goldman Sachs veteran Rudolf Hitsch to be its global market manager for China. He started as a managing director in Hong Kong this week.
Macquarie upgrades HK's GDP growth outlook

29 Apr 2010 Nations & economies
The Australian investment bank has upgraded Hong Kong’s economic forecast from 4.7% to 5.1% on the back of strong private consumption and improving merchandise trade.
Credit Agricole adds five to fixed income

28 Apr 2010 Bonds, Market move
The French bank has hired five additional staff for its regional bond origination, sales, trading and research operations. The hires reflect Calyon's stated ambition to beef up its regional bond coverage capabilities.
Deutsche Bank hires financing head for Greater China

28 Apr 2010 Investment banking, Bonds, Market move
The German bank has poached Johnson Chan from hedge fund SSG Capital Management to be its head of financing for Greater China. It especially hopes that he can bolster its debt business in China.
Citi hires Asia Pacific head of ratings advisory

27 Apr 2010 Bonds
The US bank has hired Charles Hulac as Asia Pacific head of ratings advisory, according to an internal memo seen by asiamoney.com.
ETF inspired by new China index futures

27 Apr 2010 Stock & exchange
A Deutsche Bank exchange-traded fund based on the CSI 300 index hits trading records, inspired by the first mainland stock index future based on this index.
Sun Hung Kai eyes China investment banking

26 Apr 2010 M&A, Stock & exchange, Investment banking, Broking
Sun Hung Kai is selling a 19% stake to private equity firm CVC Capital Partners to raise up to US$275 million. It is striving to build its investment banking platform in China, executive chairman Lee Seng Huang told asiamoney.com.
Business news: the past week in Asia

23 Apr 2010 Market wrap
India’s central bank raises interest rates and drains liquidity from the system, while Bank of Thailand holds its rates as blasts rock Bangkok. China tightens regulations on property sales, and the nation became Japan’s largest export market in the year to March for the first time.
HSBC highlights attraction of H-shares

23 Apr 2010 Stock & exchange, Foreign exchange, Broking, Asset management
HSBC Global Asset Management is urging investors to consider H-shares, saying they still offer an attractive discount to their A-share counterparts and should also gain from any rises in the renminbi.
Munoz quits Deutsche to join BarCap as ECM head

22 Apr 2010 Stock & exchange, Investment banking, Market move
Jorge Munoz has quit as head of Asia equity syndicate at Deutsche to join Barclays Capital as managing director of regional ECM. Munoz was scheduled to return to Europe with the German bank but opted to remain in Asia.
Deutsche seeks to tap increasing Asia trade flows

22 Apr 2010 Nations & economies, Project finance, Market move
The bank is set on capturing opportunities brought about by increased trade flows in the region and has hired Evert-Jan Zondag and Edward Hui in its structuring team for financing solutions. Both join from ABN Amro/RBS.
Citi adds eight to regional prime finance team

21 Apr 2010 Hedge funds, Market move
The bank has strengthened its team servicing hedge funds in Hong Kong, Singapore and Sydney. Underscoring its confidence in regional demand in this area, it says it is looking to add more in synthetic and loan trading.
Firth quits as BoA-ML’s Asia head of health care

21 Apr 2010 Investment banking, Market move
Carl Firth has resigned as head of Asia-Pacific health care within Bank of America-Merrill Lynch’s investment banking business. He is expected to remain in Asia although not necessarily in banking, say sources.
Deutsche hires Asia head of equity derivatives trading

19 Apr 2010 Stock & exchange, Market move
The German bank has lured Kenneth Hon from Citi to be its head of equity derivatives trading for Asia ex-Japan. He will join the German lender as a managing director based in Hong Kong at the end of this month.
Citi adds trio to acquisition and loans teams

19 Apr 2010 M&A, Loans, Market move
The US bank makes three appointments to its Asia-Pacific acquisition and loans teams as it tries to meet demand for financing in the region. Najeeb Haider and Prosenjit Saha are promoted, while Cecilia Noronha joins from BNP.
HK tipped to host more Russian IPOs in 2010

14 Apr 2010 Stock & exchange, Nations & economies
Investment bank Uralsib Capital expects fellow Russian firms to follow in UC Rusal’s footsteps and list in Hong Kong before the year is out. The firm praises the city’s marketing efforts, claiming it is now seen as Asia’s premier listing destination.
Opinion: Hong Kong must guard against complacency

14 Apr 2010 Nations & economies, Editorial
Warming cross-strait ties between Beijing and Taipei pose a credible threat to Hong Kong’s position as China’s favoured son. The city must combat its complacency and work to reaffirm its place as the premier centre for offshore renminbi transactions.
Welch quits Deutsche as head of Asia cash equity sales

12 Apr 2010 Stock & exchange, Investment banking, Market move
Tom Welch has quit as Deutsche Bank's head of fundamental equity sales for Asia ex-Japan. His departure is the latest in a string of exits from the German lender’s regional equity business.
Barclays Wealth adds another senior UBS banker

09 Apr 2010 Market move, Private banking
The wealth arm of the UK’s Barclays Bank has hired Helen Pun as market head for Hong Kong in a newly created role. She takes over direct market responsibilities from Joanna Chu and is the firm’s latest hire from UBS.
UBS says move to unite debt origination will pay off

07 Apr 2010 Structured products, Investment banking, Bonds
An integrated capital markets team can work, says UBS’ head of Asia DCM Guy Wylie after the firm brought its bonds, finance, ratings advisory and corporate derivatives businesses into a single platform.
Deutsche names Asia head of institutional equities

07 Apr 2010 Stock & exchange, Investment banking
In an internal move, the bank has appointed Rob Ebert as head of institutional client group for equities in Asia ex-Japan. He transfers from New York to replace Denis MacCarthy, who left the firm last December.
Rusal has major Asia ambitions, says CFO

07 Apr 2010 Stock & exchange
The Russian aluminium firm’s CFO Tatiana Soina tells asiamoney.com why it chose the unprecedented move to list in Hong Kong in January, and responds to criticism over its poor secondary market performance.
HSBC promotes three researchers

01 Apr 2010 Nations & economies, Bonds, Market move
The UK bank internally appoints a new head of China research and co-heads of Asian economic research.
A week in Asia’s business news

01 Apr 2010 Market wrap
Two Australian resources consolidation attempts fail, and a major Chinese pension fund looks to invest internationally. Japan sees its largest IPO in years as a life insurance company lists and South Korea is poised to see a similarly gigantic issue from the same sector.
Daiwa hires Ester Li to run Asia equity sales

31 Mar 2010 Stock & exchange
The Japanese investment bank has poached the veteran from Axial Capital Management to be its regional head of Asian equity sales, as it continues expanding outside of its home market. Li brings two decades of experience.
Senior bankers split on use of guaranteed bonuses

31 Mar 2010 Investment banking
Bankers are divided as to whether guaranteed bonuses are the best way to entice talent to jump ship and settle into a new employer.
HKEx’s Arculli eager to attract more foreign companies

31 Mar 2010 Stock & exchange
Following the Hong Kong listings of Russia’s UC Rusal and Canada’s SouthGobi Energy Resources earlier this year, Hong Kong Exchanges and Clearing chairman Ronald Arculli tells asiamoney.com why he wants to attract more foreign companies into the city’s bourse.
ABN Amro sees revolution for Asia corporate bonds

31 Mar 2010 Bonds, Asset management, Private banking
Didier Duret, CIO for ABN Amro’s private banking arm, says the corporate bond market in Asia is getting deeper and represents good value. He also urges investors to take note of the ascent of a new middle class in fast developing countries.
Hong Kong should cut tax on all ETFs, says Lyxor

30 Mar 2010 Stock & exchange
The territory’s administrators need to cut the stamp duty for all exchange-traded funds and improve incentivisation for market makers to grow the market for such instruments, says a senior official at the asset management company.
Deutsche details favoured hedge fund strategies

30 Mar 2010 M&A, Hedge funds
Karen Tan, director of the hedge funds group for Deutsche Bank’s Private Wealth Management, has outlined long-short equity, event driven and distressed debt as predicted success stories for 2010.
Clariden Leu’s Lee rubbishes quit rumour

29 Mar 2010 Interviews, Market move, Private banking
The Swiss private bank’s Asia CEO, Jimmy Lee, gives short shrift to rumours that he had quit the firm. He says he heavily engaged in building a project that he sees bearing fruit within the next two years.
More Canadian firms to list in HK, says SouthGobi CEO

29 Mar 2010 Stock & exchange, Interviews
Coal producer SouthGobi Energy Resources was the first Canadian company to float shares in Hong Kong in January. President and CEO Alexander Molyneux explains why he chose the city for the listing and why other Canadian firms will follow.
ABN Amro names HK head in historic week

29 Mar 2010 Private banking
The Dutch-based firm has appointed Arjan de Boer as head of private banking in Hong Kong, taking over from Hans Diederen, who remains its Asia head of private banking. It comes as the business readies for separation and independent state ownership.
PE funds buy up Japan-style home fitting firms

29 Mar 2010 Private equity
Two deals with a house-ware theme took place last week, each of which had a distinctly Japanese flavour. Additionally TMT investor Silver Lake finally cracked China with a small acquisition into Spreadtrum Communications, reports mergermarket.
Credit Suisse appoints new head of investments

28 Mar 2010 Private banking
The bank names Chuck Ng as head of investment solutions for its private banking business in North Asia. He takes on the responsibilities in addition to his current role and is understood not to be a direct replacement for the recently-departed Lionel Kwok.
Asian issuers drive global IPOs in first quarter

26 Mar 2010 Stock & exchange
The total of new listings conducted in the first three months of the year was the greatest number for a decade. This prolific issuance was driven largely by Asian companies, according to a report by Dealogic.
Deutsche Bank veteran Ravi Narain resigns

25 Mar 2010 Broking
The long-serving managing director for institutional equity sales for Asia ex-Japan at Deutsche Bank has quit, asiamoney.com can reveal. He is believed to be heading to Daiwa Securities.
SG adds to fixed income despite tougher times

25 Mar 2010 Structured products, Foreign exchange
The French bank will continue to expanding its regional fixed income operations, undeterred by lower trading volumes and narrowing margins for fixed income products, says its regional head of global markets.
Citi continues hiring spree with three appointments

25 Mar 2010 Market move
The US bank has hired three bankers to its regional capital markets origination team. Nathan McMurtray joins from Standard Bank, Stephen Albutt rejoins from Morgan Stanley and Rob Jahrling joins from Deutsche Bank.
Rivals look to lure UBS’s equity derivatives bankers

24 Mar 2010 Structured products
With vacancies abounding in equity derivatives, recruiters say that many banks are targeting UBS’s respected team. This follows this resignation of UBS’s Christopher Lee on March 22.
Investors argue that Chinese equities look cheap

24 Mar 2010 Stock & exchange, Asset management
A panel of fund managers said they remain bullish on the mainland’s stock markets despite poor recent performance and volatility, pointing to strong economic fundamentals, cheaper prices and the potential for currency appreciation.
Swiss state bank embarks on Hong Kong build-out

23 Mar 2010 Private banking
Banque Cantonale de Genève publically launched a representative office in Hong Kong to access rising regional demand for wealth management services. It starts off with about four people and aims to recruit up to five private bankers each year.
Nomura’s Paine is HSBC’s gain

23 Mar 2010 Stock & exchange
The UK bank has hired David Paine from Nomura as its new head of Asia equity syndicate. He fills the gap left by Will Smiley, who moved to Goldman Sachs last week.
Kwok set to join StanChart Private Bank

22 Mar 2010 Market move, Private banking
Veteran banker Lionel Kwok is set to join Standard Chartered Private Bank as managing director and head of investment advisory for north-east Asia, asiamoney.com understands.
Buy US not Asian stocks, says Legg Mason

22 Mar 2010 Stock & exchange, Asset management
The investment firm believes that US stocks will outperform those in Asia on the back of improving attitudes towards US economic growth and rising concerns about emerging markets.
Nomura staff loss continues with Colin Banfield exit

22 Mar 2010 M&A, Investment banking
The Japanese investment bank’s co-head of Asia ex-Japan investment banking became its latest high profile Asia banker to resign.
Business news: the past week in Asia

19 Mar 2010 Market wrap
Anti-government riots spill over in Bangkok, Australia’s senate approves laws to strip the ASX of its regulatory function, and Premier Wen Jiabao denies the renminbi is undervalued. Also, S&P lifts ratings on Indonesia and India, and Hutchison Telecom closes in on privatisation.
Trayport targets Asia e-trading growth

19 Mar 2010 Stock & exchange, Interviews, Energy
The UK-based provider of electronic trading software is positioning for expansion in Asia-Pacific, particularly in the area of carbon emissions trading as legislation in the region catches up with Europe and the US.
BoA-ML hires regional corporate banking head

18 Mar 2010 Cash management, Loans, Market move
Bank of America-Merrill Lynch has captured Charles Alexander from StanChart as head of Asia-Pacific corporate banking in a newly created role. He starts in June in Hong Kong, according to an internal memo.
Asian IPOs to rise by June, says HSBC

18 Mar 2010 Stock & exchange, Investment banking
Bankers at the UK lender say regional IPO activity will rebound by the end of the first half despite several disappointing trading debuts, the withdrawal of AIA’s planned flotation and stock market volatility.
Sarasin unveils ‘historic’ HK branch

18 Mar 2010 Private banking
The Swiss private bank has launched a full-service branch in Hong Kong, its first international branch outside of Switzerland. Its Swiss chief executive brands it a historic moment, demonstrating its commitment to Asia.
ITG launches Asian dark pool to tap demand

17 Mar 2010 Stock & exchange
Investment Technology Group says it is launching its new POSIT Marketplace dark pool for Asia in a drive to tap into the growing demand in the region for alternative forms of liquidity and reduce trading costs.
BoA-ML hires Reilly as head of Asia equity trading

16 Mar 2010 Stock & exchange, Market move
Bank of America-Merrill Lynch has hired Gene Reilly as head of Asia-Pacific equity execution services. He joins from Goldman Sachs, where he was a partner and former head of regional equity trading.
Investment head Kwok quits Credit Suisse

12 Mar 2010 Structured products, Market move, Private banking
Veteran banker Lionel Kwok resigned this week as head of investments for North Asia at Credit Suisse. Although his destination could not be confirmed, his resignation comes immediately after an internal reshuffle at the bank.
Goldman co-head of regional sales trading quits

11 Mar 2010 Stock & exchange, Foreign exchange, Market move
Jesse Lentchner has resigned as managing director and co-head of sales trading for Asia ex-Japan at Goldman Sachs. He is expected to join trading firm BTIG as a Hong Kong-based regional chief executive.
Deutsche loses key sales traders in Hong Kong

10 Mar 2010 Stock & exchange, Market move
Ricky Lo and May Tsang quit Deutsche Bank’s Hong Kong and China sales trading team today, asiamoney.com can confirm. Both had been with the firm for more than nine years, although their future destination is unknown.
Regional head of equities quits Nomura

08 Mar 2010 Stock & exchange, Investment banking, Market move
Sigurbjorn Thorkelsson resigned last week as head of Nomura’s regional equities business in Hong Kong, the latest in a string of senior departures from the bank. Nomura also announced a management reshuffle today.
Analysts take positive view on HSBC earnings

04 Mar 2010 Stock & exchange, Corporate profiles
HSBC unveiled disappointing 2009 earnings this week, but analysts remain upbeat on its longer-term outlook as it continues to manage losses from its US business and realigns its focus towards emerging market growth.
SocGen hires equity strategist in Asia build-out

04 Mar 2010 Stock & exchange, Broking, Market move
Société Générale has named Todd Martin as Asia-Pacific equity strategist, based in Hong Kong. He was most recently head of alternative trading strategies at CLSA. It is part of a drive to develop its global equity and flow franchise in Asia-Pacific.
RBS Coutts moves global joint CIO to Asia

03 Mar 2010 Market move, Private banking
The international private banking arm of the Royal Bank of Scotland said it had relocated global co-chief investment officer Nick Cringle to Hong Kong. Manfred Liechti also started in Singapore this week as its market head for south-east Asia.
Opinion: why Asia is abuzz over AIA sale

03 Mar 2010 M&A, Editorial
UK life assurer Prudential plans to raise US$21 billion in a rights offering to help it to buy Hong Kong-based AIA. Whether the deal goes through or not, it is set to have widespread ramifications for Asia’s insurance sector.
HSBC raises Hong Kong GDP growth forecast

03 Mar 2010 Nations & economies
The bank revises its figures for economic expansion from 3.8% to 5.4% in 2010 on the back of improved private consumption and increased tourism. The government has set aside more than 90% in one-off concessions for individuals, it notes.
Crédit Agricole promotes veteran

01 Mar 2010 Structured products, Bonds, Market move
The bank has named Laurent Baumgartner regional head of interest rate derivatives trading for Asia ex-Japan in what it describes as a well-deserved promotion, having been with the firm for 15 years.
Business news: the past week in Asia

26 Feb 2010 Market wrap
BoCom announces plans for a rights issue, while Morgan Stanley moves closer to selling its stake in CIC. Hong Kong said it would raise taxes to deflate a potential property bubble and Dai-ichi Life’s targets what would be the world’s largest IPO this year.
Goldman veteran Leven set to join BarCap

26 Feb 2010 M&A, Investment banking, Market move
Barclays Capital is set to name Johan Leven as its head of regional corporate finance in Asia, asiamoney.com understands. The former co-head of regional M&A at Goldman returns after five months out of the industry.
Cautious growth seen in hiring, salaries this year

26 Feb 2010 Investment banking, Nations & economies, Market move
Recruitment firm Robert Walters says hiring and salary levels in Asia’s financial services industry will begin to rise again this year as economies continue to recover. But companies are also expected to change their compensation structure.
HSBC appoints co-head in Islamic finance

26 Feb 2010 Islamic finance, Market move
The bank has named William Ross co-head of Islamic finance in global markets as it strives to increase its footprint in the sector. It has yet to appoint another co-head, but has forecast that Islamic assets could reach US$1 trillion this year.
Asian issuers forecast to dominate GDR industry

25 Feb 2010 Stock & exchange
Despite the region’s equity markets experiencing a downtrend since the start of the year, BNY Mellon remains bullish about the growth of the global depositary receipt industry in Asia this year.
Subscribe to BoCom’s rights issue, HSBC urges clients

25 Feb 2010 Stock & exchange
Bank of Communications announced this week it was seeking to raise more than US$6 billion via a rights issue. Significant shareholder HSBC is advising clients to sign up since it will help the lender to achieve better growth.
Hong Kong banking sector forecast to stay weak

23 Feb 2010 Stock & exchange, Investment banking, Nations & economies, Loans
Todd Dunivant, head of bank research for Asia-Pacific at HSBC, notes that Hong Kong’s banking sector will continue to underperform as long as western economies remain weak.
Market praises UBS’ move to unite DCM teams

22 Feb 2010 Investment banking, Bonds, Loans, Market move
Observers say the bank’s move to unite debt origination businesses in Asia is smart and will boost revenues. UBS has made a number of DCM appointments in the region, according to an internal memo seen by asiamoney.com.
BarCap names O’Sullivan as head of equity research

22 Feb 2010 Stock & exchange, Investment banking, Broking, Market move
The investment bank has appointed Stephen O’Sullivan as head of equity research for non-Japan Asia, based in Hong Kong. He joins from Macquarie Securities in a move that first reported by asiamoney.com back in November.
StanChart Private Bank makes senior North Asia hires

19 Feb 2010 Market move, Private banking
Standard Chartered Private Bank has appointed Stella Kong as head of relationship management for China, and Trevor Mak as head of relationship management for Hong Kong, asiamoney.com can reveal. Both started this week.
HSBC sees buying opportunity in Chinese stocks

19 Feb 2010 Stock & exchange, Nations & economies
The bank believes expectations of interest rate hikes by China are exaggerated and that the recent equities decline presents a buying opportunity for investors. But it is bearish on Indian stocks because the risk of inflation.
Demand for money market funds to increase

12 Feb 2010 Asset management
Investor interest in liquidity funds could return as government guarantees on deposits expire says HSBC. But such funds must put liquidity and safety ahead of yield.
BoA-Merrill lures Robert Chiu back from Nomura

11 Feb 2010 Investment banking
Robert Chiu has quit as Nomura’s Asia head of telecommunications, media and technology and will re-join Bank of America-Merrill Lynch, asiamoney.com can reveal. He lasted at Nomura for little over a year.
Credit Suisse tips HK and China small-cap stocks

11 Feb 2010 Stock & exchange
Shares in Hong Kong and China and small-cap stocks look set to outperform as the pace of economic recovery in Asia slows, predicts Credit Suisse. Additionally Hong Kong’s equity market is likely to become more volatile.
Business news: the past week in Asia

11 Feb 2010 Market wrap
Australia’s richest man gets Chinese funding for a mega-mine, Kirin and Suntory end merger discussions, Temasek launches a new US$4 billion fund, and Taiwan lets its chip- and screen-makers invest more into the mainland.
Deutsche reels in former UBS banker James Roth

10 Feb 2010 Investment banking
The German bank has hired James Roth to be its head of Asia general industries, asiamoney.com can reveal. He had formerly run UBS’s regional technology, media and telecommunications coverage before going on sabbatical last year.
Asia ready for dark pools plunge, says Chi-East CEO

09 Feb 2010 Stock & exchange, Broking
The region is primed for alternative crossing networks for investors, says Ned Phillips, the new CEO of Chi-East, the joint venture dark pool between Singapore Exchange and Chi-X Global.
State Grid of China bond behemoth heads busy markets

09 Feb 2010
The mainland electricity grid operator conducted the second-largest bond issue from Asia-Pacific ex-Japan, and was joined by several notable international bonds. Asiamoney.com rounds up last week’s key regional capital market activity.
Selloff in global credits offers Asia opportunities

09 Feb 2010 Bonds
The recent sell-off in Asian credits offers investors an opportunity to buy into select defensive names at appealing yields. Analysts at Nomura highlight four bonds sold last week as particular examples.
BarCap expected to capture Jeremy Norris

05 Feb 2010 Stock & exchange, Investment banking, Market move
The investment bank is expected to name Jeremy Norris as its Asia head of equity sales trading, asiamoney.com understands. It would be a coup for the firm, with him returning to the industry after a nine-month break.
Daiwa, BoA-ML make senior equity derivatives hires

04 Feb 2010 Structured products, Market move
Underlining the race for talent, Daiwa has recruited Adam Cowperthwaite as its head of equity derivatives sales for Asia ex-Japan, while Rajesh Melwani is set to join BoA-ML as head of equity derivatives sales for Asia-Pacific.
ING’s asset management arm names Asian CIO

29 Jan 2010 Asset management, Market move
ING Investment Management has promoted Pranay Gupta as chief investment officer for Asia-Pacific, based in Hong Kong. The asset manager falls under the insurance group of businesses that ING has vowed to divest by 2013.
J.P. Morgan bolsters equities team in Hong Kong

27 Jan 2010 Stock & exchange, Market move
Gordon Crosbie-Walsh is returning to Hong Kong to join J.P. Morgan’s equity syndicate desk next month, asiamoney.com understands. It will be his second stint in the city, having worked there previously for 14 years.
Nomura names co-head of Asia bank research

27 Jan 2010 Stock & exchange, Broking, Market move
The Japanese bank Nomura has appointed Lucy Feng as managing director and co-head of regional bank research for Asia ex-Japan. She joins from Deutsche Bank, where she worked in a similar role.
Country deals of the year: Hong Kong

27 Jan 2010 Bonds, Polls & awards
Hutchison Whampoa's US$3 billion dual-tranche bond issue in September stood out during 2009 for timing, size and execution. It duly earns Asiamoney's award as Hong Kong's best deal over the past year.
BNY Mellon targets regional broker-dealer segment

26 Jan 2010 Stock & exchange, Asset management, Market move
The US-based financial services firm adds David Brown as vice-president for broker-dealer global sales in its Hong Kong office. He will be responsible for selling the firm’s broker-dealer capabilities to clients in Asia-Pacific.
US-based asset manager makes Hong Kong hire

25 Jan 2010 Asset management, Market move
American Century Investments named Elizabeth Trinh from Macquarie Bank as vice-president in its Hong Kong office. The firm is striving to build up its Asian presence.
BoA-ML makes senior rates and currencies hire

25 Jan 2010 Foreign exchange, Market move
The US bank has taken on Vinit Sahni from Goldman Sachs as regional head of flow rates and currencies sales. He will also be global head of hedge fund and central bank sales for rates and currencies.
HSBC names Anita Fung in expanded role

25 Jan 2010 Private equity, Investment banking, Asset management, Market move
The bank appoints Anita Fung as its Asia-Pacific head of Global Banking and Markets in what is a newly formed role. She will take care of regional corporate and investment banking, as well as asset management.
HSBC sees H-shares as a buying opportunity

24 Jan 2010 Stock & exchange
The bank notes recent declines in China H-shares and suspects the Hang Seng China Enterprise Index could fall up to 20% in the next few weeks. However it sees counterparts on the A-share index as too expensive, still.
Business news: the past week in Asia

22 Jan 2010 Market wrap
China's GDP grew at 10.7% in the fourth quarter, raising the liklihood of monetary tightening, while regulators also ordered some China banks to halt lending to rein in credit growth. Japan Airlines filed for bankruptcy protection and SocGen ran into trouble in India’s equities market.
Hong Kong tipped to remain top IPO market in 2010

20 Jan 2010 Stock & exchange, Nations & economies
Firms from China and elsewhere are queuing up to debut in the city, attracted by its low interest-rate environment and relatively low volatility. Sun Hung Kai Financial argues a rise in IPOs could even alleviate surplus liquidity.
BarCap adds regional head of equity sales

19 Jan 2010 Investment banking, Market move
Barclays Capital names Anthony Davies as a managing director and head of equity sales for non-Japan Asia. He will be based in Hong Kong and joins from Merrill Lynch, where he was head of Pacific Rim equity distribution.
Credit Suisse adds to Asia prime services business

18 Jan 2010 Hedge funds, Market move
The Swiss bank announced it had hired Deborah Lee as a director in its Asia-Pacific prime services business. She joins from Goldman Sachs, where she had a similar role.
Recruiter Sirius Partners opens its doors in Asia

18 Jan 2010 Investment banking, Market move
The financial recruitment firm believes it can seize market share in an increasingly crowded space as the region’s investment banking industry grows at a rapid clip.
Opinion: Beijing was right to derail the through-train

16 Jan 2010 Stock & exchange, Editorial
Scrapping the “through train” plans that would have allowed domestic investors to buy Hong Kong-listed stocks directly is a positive. It shows that when it comes to China’s nascent financial market, it pays to be patient.
Asia expansion sees Houlihan Lokey hire Chen

14 Jan 2010 Investment banking, Market move
US boutique investment bank Houlihan Lokey has named Bing Chen a Hong Kong managing director for financial advisory services. It says it is aiming to increase its China presence strongly as part of a regional expansion.
Citi highlights Greater China challenges for investors

12 Jan 2010 Stock & exchange, Nations & economies
Stock markets offer upside potential, but the pace of gains is uncertain and the environment promises to be more challenging this year than last, the US bank says.
J.P. Morgan Private Bank to relocate global head to Asia

12 Jan 2010 Market move, Private banking
Doug Wurth is set to relocate from New York to Hong Kong as head of international private banking for J.P. Morgan. The move follows an unsettling period for the US private bank, which has had several regional departures.
Former ‘Asian Tiger’ economies on comeback trail

12 Jan 2010 Stock & exchange, Nations & economies
The region’s developed economies have rebounded strongly from the financial crisis and stand to benefit from a recovery in global trade, says a fund manager.
Offshore issuers target entry to China’s stock markets

10 Jan 2010 Stock & exchange, Nations & economies
After years of talk but little progress, the mainland’s regulators could soon give the go-ahead for international issuers and red-chip companies to list shares in Shanghai.
Business news: the past week in Asia

08 Jan 2010 Market wrap
Japan’s government names a new finance minister while Beijing edges up local borrowing rates. The Philippines enjoys great demand for its bond reopening, while firms set to list on the ChiNext exchange are enjoying such good demand that the bourse could alter its rules to dampen investor enthusiasm.
CCB tips the Hang Seng to hit 29,000 this year

07 Jan 2010 Stock & exchange, Nations & economies
Peter So, the Chinese bank’s head of research, expects the HSI to achieve a 12-month high of 29,000 points and is urging equity investors to capitalise before fiscal tightening measures are introduced later in 2010.
CLSA hires investment banker Lai from SocGen

07 Jan 2010 Investment banking, Market move
Paul Lai started this week as head of Hong Kong and Greater China investment banking at CLSA. He quit Société Générale late last year and is a former head of Hong Kong investment banking at HSBC.
RBS hires head of Asia-Pacific retail structuring

07 Jan 2010 Structured products, Market move
The Royal Bank of Scotland has appointed Richard Harman to manage its regional teams selling structured products to retail investors. He joins from Citi, where he spent nine years based in Hong Kong and Tokyo.
BEA ‘less likely to be acquired’ after share issues

06 Jan 2010 M&A, Stock & exchange
Bank of East Asia’s share issues to Criteria CaixaCorp and Sumitomo Mitsui make it less likely to be a hostile takeover target, say analysts. Yet further stake increases by shareholders may trigger more M&A speculation.
Gammons quits Citi to join BoA-Merrill

05 Jan 2010 Private equity, Market move
Veteran private equity banker Chris Gammons is set to join Bank of America-Merrill Lynch in March as head of its financial sponsor business for Asia-Pacific ex-Japan. It is widely regarded as a coup for the bank.
Hong Kong’s IPO market tipped to surge in 2010

04 Jan 2010 Stock & exchange, Investment banking, Nations & economies
Debut listings in the city are forecast to top HK$300 billion this year as firms strive to tap into China’s growth, PricewaterhouseCoopers says. Hong Kong's capital markets are expected to be less volatile than global counterparts, with interest rates forecast to remain low.

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