Financial industry

Xi Jinping's security commission to also tackle financial industry

Chinese President Xi Jinping

Beijing will create a ministerial-level division dedicated to financial industry security within the new National Security Commission to be chaired by President Xi Jinping.

Tuesday, 28 January, 2014, 8:57am 1 comment

12 new free-trade zones to follow in Shanghai's footsteps

The 12 new free trade zones would include Guangdong, which has been lobbying the central government by highlighting its economic ties with Hong Kong. Photo: Bloomberg

The central government has agreed in principle to approve 12 new free-trade zones (FTZs), three months after giving the special status to Shanghai.

23 Jan 2014 - 4:17pm 1 comment

Optimism rises in British financial services industry as business volumes, profits grow

Business volumes and profitability are expected to increase again in this quarter. Photo: AP

Britain’s financial services industry is beginning to feel the benefits of economic recovery, as firms report growth in profits, business volumes and optimism in the fourth quarter, a survey found.

20 Jan 2014 - 5:09pm

It's the end of the year and battle for talent begins again

December and January are usually the two busiest months of the year for headhunters to pitch for talent.

It's the end of the year again, and a time when some human resources managers may get nervous about one thing - how to keep their staff.

30 Dec 2013 - 1:39am

US banker proud to become Chinese national

Some in Hong Kong’s financial community were surprised by an e-mail from one of the most veteran investment bankers in the city on Tuesday night. Marshall Nicholson, a managing director in charge of investment banking in Hong Kong for China International Capital Corporation (CICC) told his colleagues and friends that he had officially renounced his United States citizenship and would soon receive a HKSAR passport.

29 Aug 2013 - 4:13am

Growing mistrust will result from 'no comments' or denials

UBS revealed as mystery lender for Thai group's purchase of Ping An. Photo: Reuters

While some scholars praise China for being a more open society, the business world in China is apparently the other way round. Doing business in China is becoming more important than ever amid an economic slowdown in the West in recent years, and it's also getting less transparent.

8 Apr 2013 - 8:56am

What analysts won't tell you about selling out of a stock

Deutsche Bank put a "sell" rating on Tsui Wah, the well-known local restaurant chain operator that recently went public in Hong Kong. Photo: K.Y. Cheng

In the stock market, there is a widely acknowledged principle: it's more important for investors to know when to sell than when to buy because you can only secure your profits when you sell.

1 Apr 2013 - 12:29pm

Unintended consequence of property price curbs: more stock market speculation

Amid policy tigtening, some Hong Kong property investors have chosen to leave the market for a while. Photo: AP

The Hong Kong government has been keen to curb fast-rising property prices since late last year, but all its efforts may be creating a new problem: more speculation in the city's stock market.

25 Mar 2013 - 11:02am 2 comments

Are Chinese banks really prepared for launch in Hong Kong?

China International Capital Corporation Limited (CICC) President and CEO Levin Zhu. Photo: Reuters

It's no secret in Hong Kong's financial community that mainland banks have become the major job creators in the city, rescuing many laid-off bankers, mostly from Western banks.

Now it seems more job opportunities will appear at mainland banks and securities firms as they are set to open branches and offices in Hong Kong this year, thanks to Beijing's latest policy thrust.

18 Mar 2013 - 9:03am

HSBC's Gulliver becomes poster boy for Brobdingnagian bonuses

Stuart Gulliver. Photo: Bloomberg

HSBC just announced disappointing results for 2012, a year full of bad news for the global bank founded in Hong Kong and Shanghai. Despite bad results, chief executive Stuart Gulliver still secured a bonus of £1.95 million (HK$22.7 million) for last year. His total compensation came to HK$109 million, including the release of deferred bonuses from previous years. For comparison, Gulliver's total compensation in 2011 was HK$82 million.

14 Mar 2013 - 2:34pm 1 comment

Investors shocked to discover fund managers' private views

When the conversation was leaked to the public, the stock market in Shanghai quickly sank. Photo: Xinhua

The past week proved to be a scandalous one for the mainland's stock market.

A private conversation about the market outlook between one of the mainland's most respected analysts and an influential fund manager was secretly recorded by a third party and then leaked to the public.

The impact? What a shock!

25 Feb 2013 - 2:49pm 2 comments

Teacher Guo's pearls of wisdom on how to make easy money

Guo Shuqing. Photo: Bloomberg

Who holds the most bullish view in the world about the mainland's stock market these days? My answer is Guo Shuqing, the country's top securities regulator.

21 Jan 2013 - 10:54am

Ping An as seen by the media: tip-offs, denials and rows

Ping An as seen by the media: tip-offs, denials and rows. Photo: Reuters

The past week was hectic in terms of the news coverage of HSBC's deal to sell its stake in Ping An Insurance. Much of the focus was on who the behind-the-scenes buyer was.

Today, I will try to offer a personal look at the coverage from behind the scenes.

14 Jan 2013 - 8:17am

Cash is a big bonus but there are other means of just reward

Will your year-end bonus be coming soon? (Photo: George Chen/SCMP)

This time of year, the annual bonus is the talk of the town. Expectations in banking circles are running high, but the talk itself is kept pretty low. That's because since the 2008 global financial crisis, rewarding bankers has become a particularly sensitive topic.

31 Dec 2012 - 8:55am

Hong Kong may have its own way around bankers' bonus caps

Andrew Sheng, chairman of Securities and Futures Commission. Photo: David Wong

To most people, Christmas means presents. But to the banking industry, this Christmas may be more about Scrooge than Santa, warnings than gifts.

17 Dec 2012 - 12:02pm