JP Morgan

Pick me (and only me), Alibaba and JD.com told banks

JD.com has hired two banks to handle its initial public offering. Photo: Reuters

Top investment banks have been forced to choose between two important clients - bitter rivals Alibaba and JD.com the mainland's largest e-commerce firms.

Both companies are planning to list in New York.

Tuesday, 21 April, 2015, 11:26am 2 comments

Investment banker jumps to death from JP Morgan’s headquarters in Central

The man stands on the roof of Chater House in Central as police try to talk him down. Photo: SCMP Pictures

An investment banker at JP Morgan jumped to his death from the roof of the bank's headquarters in Central yesterday, despite attempts to talk him down, witnesses said.

19 Feb 2014 - 9:32am

Asian players develop an appetite for risky commodities trading

Wilson Wan, the head of China Merchant Securities (Hong Kong), is establishing a new unit for oil futures trading, focusing on the three mainland oil majors. Photo: Jonathan Wong

While Western financial giants have been exiting the high-risk, high-reward commodities trading business, capital-rich Asian firms, including state-owned banks and brokerages from China, have seized the opportunity to enter the market.

22 Jan 2014 - 12:40am 1 comment

Beijing's antigraft crackdown forces foreign firms to rethink business practices in China

Illustration: Emilio Rivera

Creating guanxi – relationships or connections – used to be a reliable way for multinational firms to break into the China market. But foreign companies are increasingly having to re-examine the way they do business in the world’s second-largest economy.

2 Dec 2013 - 10:31am 2 comments

Banks will not end connected hiring

One banker says lenders in the mainland and Hong Kong like to hire second generations from the established families. Photo: Bloomberg

Banks have no plans to change their policy of hiring so-called princelings or other well-connected people to help grow their business on the mainland or in other emerging markets - despite the shockwaves caused by news that United States regulators are investigating JP Morgan's hirings of the children of the elite in China.

16 Sep 2013 - 7:12am

Chinese firms in Hong Kong may be new paradises for 'princelings'

The JP Morgan case attracted attention on the mainland where the public is already angry about corruption within the ruling party. Photo: Reuters

It's a season of change in Hong Kong. Change what? Quietly changing jobs for some important people. The US government announced last month that it would investigate JP Morgan's Hong Kong hiring practices relating to job offers for children of some important people on the mainland, and as a result, several such "important kids" working for other foreign banks are now seriously considering new jobs.

16 Sep 2013 - 7:20am 2 comments

Why the children of many important people are in Hong Kong

Hong Kong naturally becomes the first choice for many of those parents, in particular following the 1997 handover, making them feel safer to keep their children in the city.

The sons and daughters and even the grandsons and granddaughters of those who are or used to be in very powerful positions in China have recently grabbed public attention again, thanks to some so-called breaking news which isn't really "breaking" at all.

26 Aug 2013 - 6:47am 10 comments

JP Morgan Chase faces US probe for hiring Chinese princelings

JP Morgan Chase is being investigated by US authorities over claims the bank hired the children of influential Chinese officials to secure business in the country. Photo: AFP

JP Morgan Chase was caught in the spotlight yesterday after media reports suggested the bank hired sons and daughters of senior Chinese officials in the hope of winning deals from major state-owned enterprises.

The revelation of JP Morgan's hiring of the son of China Everbright Group's chairman and a former railway official's daughter comes at a sensitive time for Sino-US relations.

19 Aug 2013 - 3:51pm 18 comments

EU charges banks with blocking exchanges from derivatives market

The European Commission’s latest move against 13 top investment banks could result in heavy fines. Photo: AFP

EU watchdogs have charged 13 top investment banks with blocking exchanges’ access to the lucrative credit derivatives market, hitting the sector with the latest in a growing list of regulatory headaches.

2 Jul 2013 - 1:01pm

Is the aviation hub key to Hong Kong's economic prosperity?

Chek Lap Kok: does it need four?

Opposition to the third runway essentially centres on concerns about increased emissions and air quality and the effect that construction will have on the habitat of the pink dolphin.

1 May 2013 - 3:46am 7 comments

Tobacco and roadside pollution more dangerous than bird flu

Best friends forever.

Given the rising concern over bird flu, it is worth recalling that there are other bigger killers in Hong Kong. In the past two weeks in which nine deaths have been recorded, Hong Kong's dirty air has led to 123 avoidable deaths.

8 Jul 2013 - 12:25pm

I.P.O.s ready to bounce back in Hong Kong

Kester Ng says lingering global macroeconomic problems have been contained or resolved, creating an environment more "conducive for equity investments". Photo: Edward Wong

Firmer capital inflows into Asian markets signal the worst may be over for Hong Kong's initial public offering (IPO) market, according to a veteran banker at JP Morgan.

23 Jan 2013 - 3:55am

Business Digest, October 13, 2012

Dragonair to launch Yangon route

Lehman Europe plans creditor payout

The European arm of Lehman Brothers is planning a November payout to unsecured creditors, its first since the US investment bank's collapse four years ago, after attempts to return cash were slowed by legal disputes and snowballing claims. Reuters  

Shipping lines join forces, stocks jump

13 Oct 2012 - 5:19am

The Week Explained: politicians turned businessmen

Something to smile about: Nicolas Sarkozy is mulling an offer from Morgan Stanley and Tony Blair advises J.P. Morgan. Photo: AFP

News that the former British prime minister Tony Blair set up a meeting to help the Hong Kong-listed commodities conglomerate Glencore secure a US$80 billion merger with Xstrata offered a timely reminder of the role former political leaders play in the business world.

17 Sep 2012 - 12:07am

China Datang wind power arm eyes US$1.5b in IPO

China Datang Corporation Renewable Power, the nation's second-largest wind power generator by installed capacity, is seeking to raise US$1.5 billion via an initial public offering to help fund a doubling in capacity over the next two years.

17 Nov 2010 - 12:00am

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