DBS to add bankers for Hong Kong, China corporate business

DBS Group Holdings is hiring as it moves to diversify its revenue base to lessen its dependence on its home market of Singapore. Photo: Reuters

DBS Group Holdings, Southeast Asia’s biggest lender, will increase the number of bankers serving large companies in Hong Kong and China by 20 percent next year as it seeks more revenue from outside of Singapore.

Monday, 10 December, 2012, 1:25pm

Whatever happened to global warming for the past 16 years?

Not feeling the chill

One of the "inconvenient truths" that is not getting much attention at the UN climate conference in Doha is that for the past 16 years there has been no discernible increase in global temperature.

6 Dec 2012 - 3:16am 1 comment

Banking giants find big is no longer beautiful

RBS is cutting its operations.

Global banking, a model promoted for more than 30 years by financial conglomerates cobbled together through cross-border mergers, is colliding with the post-crisis reality of stricter national regulation.

6 Dec 2012 - 3:16am

Fitch blasts S&P over Credit Suisse mortgage debt

Fitch Ratings has criticised Standard & Poor’s decision to issue top ratings to a Credit Suisse Group mortgage bond deal. Photo: Reuters

The AAA ratings assigned by Standard & Poor’s in a mortgage-bond deal by Credit Suisse Group AG are too high, Fitch Ratings said for the second time this year.

4 Dec 2012 - 3:50pm

Chong Hing Bank surges to 6-year high on takeover hopes

A branch of Chong Hing Bank in Central, Hong Kong. Photo: Warton Li

Chong Hing Bank shares surged the most in almost six years after the appointment of a chief executive officer from outside the controlling shareholders’ family fuelled speculation of a takeover.

30 Nov 2012 - 2:43pm

Asian trio the new hunting ground for job opportunities

Pudong New Area, Shanghai's financial district and China's would-be Wall Street (Photo: George Chen/SCMP)

"Dubai, Mumbai, Shanghai or Bye-bye!" Remember that popular joke Western bankers passed around during the 2008 global financial crisis?

Fast forward four years. Now, Shanghai looks even brighter as far as financial industry jobs go, while Dubai and Mumbai are grappling with their individual economic woes.

26 Nov 2012 - 3:09pm

CCB joins capital raising queue - again

Photo: Bloomberg

The near non-stop capital raising by major Chinese banks is showing no sign of slowing, with China Construction Bank (0939.HK; Shanghai: 601939) announcing yet another new plan to sell up to 40 billion yuan, or US$

19 Nov 2012 - 7:19pm

HSBC says in talks to sell Ping An stake but no deal yet

HSBC confirms that it is in talks to sell entire stake in Ping An. Photo: EPA

For HSBC, to sell or not to sell its valuable holdings in Ping An Insurance, China's No 2 life insurer, is now apparently not a question. The more burning question for HSBC may be to sell the stake at what price.

19 Nov 2012 - 6:16pm 1 comment

Storytellers pile into private equity as industry mushrooms

Is the private equity industry already crowded enough? Photo: George Chen/SCMP

What skills and experience does a person need to become a private equity professional?

Compared with traditional financial businesses such as banking and insurance, private equity has a very brief history in China. However, many financial professionals feel the private equity industry on the mainland has already become very crowded within just a few years.

19 Nov 2012 - 9:53am 1 comment

ICBC expands in Middle East

Photo: Xinhua

ICBC is easily China's most outward-looking bank...

15 Nov 2012 - 1:29pm

OCBC drinks to a record profit from brewery sale

Oversea-Chinese Banking Corp, Southeast Asia's second-largest lender, posted record quarterly profit on a gain from the sale of stakes in a drinks manufacturer and a brewery.

10 Nov 2012 - 5:09am

Banks will have bigger say in setting interest rates

People's Bank of China

China's banks will play a larger role in setting their own interest rates, top bankers said yesterday on the sidelines of the 18th party congress.

The move is likely to intensify competition and, possibly squeeze bank profit margins.

9 Nov 2012 - 4:10am

How to beat the new property tax?

Hong Kong’s new property regime is already inspiring ingenious countermeasures from non-residents looking to buy in one of the world’s priciest real estate markets. Photo: AFP

Remember the saying? “Man proposes - God disposes.” China has a variation on that.  Basically it says that higher-ups set out policy and the rest of the population then proceed to circumvent the new policy. That’s exactly what’s happening in Hong Kong right now.

31 Oct 2012 - 6:35pm 2 comments

What does Starbucks say of your status?

What does Starbucks say of your status?

It's an open secret in Hong Kong's business community that many of the best ideas and biggest decisions come together over a cup of coffee rather than behind the closed doors of well-appointed boardrooms around town.

29 Oct 2012 - 9:10am 2 comments

Merrill Lynch bankers seek new posts

Bank of America in New York. The bank is selling its Merrill Lynch business in Asia, excluding Japan, to Julius Baer. Photo: EPA

Private bankers at Bank of America Merrill Lynch are scrambling for jobs in Hong Kong and Singapore ahead of the expected merger of the US bank's wealth-management business with Switzerland's Julius Baer.

29 Oct 2012 - 5:08am