• Fri
  • Dec 19, 2014
  • Updated: 10:25pm


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.

Friday, 21 March, 2014, 12:27am 2 comments

UBS helped set up offshore firm for wife, daughter of corrupt railways official, database shows

Zhang Shuguang's mistress confessed in a Beijing court to helping to cover up bribes received by him. Photo: Xinhua

Swiss bank UBS is at the centre of embarrassing revelations that it helped to set up a secretive offshore firm for the wife and daughter of a former senior Chinese official who has since been convicted of corruption.

18 Feb 2014 - 2:20am 3 comments

Tianhe Chemicals IPO follows boss' daughter to UBS

JPMorgan saw the Tianhe Chemicals deal go to UBS, where one of the US bank's former employees had moved. Photo: AFP

Mary had a little lamb, Joyce Wei has an IPO. Wherever the daughter of Tianhe Chemicals chairman Wei Qi goes, follows the potential US$1 billion IPO deal.

First, it was JP Morgan Chase that was supposed to be working on the initial public offering of the Liaoning-based company. Joyce Wei was then working as an investment banking associate there.

22 Jan 2014 - 4:37pm 9 comments

Top UBS banker Zhao Ju takes sabbatical for Harvard politics course

The John F. Kennedy School of Government at Harvard. Photo: Harvard

Zhao Ju, currently China Co-head for UBS, will take a sabbatical of up to 12 months from the end of this year when he will become a visiting fellow in the class of 2014 in the prestigious John F. Kennedy School of Government at the famous university in the United States, according to two sources close to Zhao.

23 Oct 2013 - 3:26am 6 comments

Italy arrests ex-UBS executive Raoul Weil over US tax case

Former UBS executive Raoul Weil has been arrested. Photo: EPA

A former top executive at Swiss banking giant UBS wanted in the United States for allegedly helping wealthy Americans hide US$20 billion in taxes has been arrested in Italy, police said.

22 Oct 2013 - 6:38am

UBS plans to double invested assets of Asian clients over five years

UBS chief Sergio Ermotti says he will increase the firm's focus on wealth management in growth markets as it restructures. Photo: Paul Yeung

UBS, Switzerland's biggest bank, plans to double invested assets of clients in Asia over the next five years even as it cuts 10,000 jobs and restructures its investment banking business globally, says chief executive Sergio Ermotti.

14 Oct 2013 - 4:31am

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

UBS agrees US$885m deal for subprime lawsuit

UBS headquarter in Zurich. Switzerland's largest bank has agreed a deal of US$885 million to settle lawsuits. Photo: Reuters

UBS, Switzerland's largest bank, has agreed to pay US$885 million to Fannie Mae and Freddie Mac to settle claims that it improperly sold them mortgage-backed securities during the housing bubble, a US regulator said.

27 Jul 2013 - 5:05am

Son-in-law of Chinese vice-premier sets up Hong Kong fund

Vice Premier Wang Yang. His son-in-law Nicholas Zhang has recently set up a new hedge fund in Hong Kong. Photo: Reuters

Vice-Premier Wang Yang's son-in-law recently launched a Hong Kong-based hedge fund focused on mainland equities, joining a growing number of young family members of top officials who have set up asset management businesses in the city.

18 Jul 2013 - 8:39am 6 comments

UK prosecutor promises hefty evidence in first Libor fixing case

Tom Hayes, pictured here surrounded by media after a June court appearance, is the first suspect to come to court. Photo: AP

British prosecutors say they have extensive evidence against former trader Tom Hayes, the first suspect to come to court following a global investigation into the suspected rigging of interbank lending rates.

5 Jul 2013 - 10:47am

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

Defeated by a Barclays press release

Barclays' lastest report is on Wealth Insights: Origins and Legacy: The Changing Order of Wealth Creation. Photo: AFP

Every time an excited press release arrives about a new report from a public relations or corporate communications executive representing a private bank, my hopes rise. Please, please may this one contain some nugget of inspiration I can tease into something interesting.

19 Jun 2013 - 7:07pm

UBS lifting salaries to retain staff: sources

UBS lifting salaries to retain staff: sources

UBS, the Swiss bank that said last year it would cut 10,000 jobs to increase profit, is now boosting investment bank salaries to catch up with rivals and retain employees, said three people with knowledge of the plan.

1 Jun 2013 - 4:19am

UBS sponsors Art Basel Hong Kong as finance, culture intersect in Asia

UBS wants more Asian works in its collection. Photo: Jonathan Wong

The globalisation of the art world is extending from the cultural to the financial, with UBS sponsoring the Asian arts scene via a Hong Kong art fair.

The Swiss bank will become the new partner of Art Basel Hong Kong from tomorrow, the South China Morning Post has learned.

27 May 2013 - 9:06am

Ex-strategist can sue UBS as whistleblower: US judge

UBS has suffered a setback in a whistle-blower lawsuit with a former strategist. Photo: Reuters

UBS has lost a bid to dismiss a whistle-blower lawsuit by a former commercial mortgage-backed securities strategist who said he was fired for refusing to publish misleading research reports.

22 May 2013 - 11:56am