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Enoch Yiu

NatWest Markets has prepared a blueprint for the development of its investment banking business in the Asia Pacific region and China.

  The plan would include a tight focus on involvement in infrastructural development in China, according to the bank's chief of Greater China operations, Frank Wong Kong-shing.

   'The target of the bank is to develop investment banking business in the Greater China region, including Hong Kong, China and Taiwan,' Mr Wong said.

  'We plan to develop one-stop banking for clients so we need to understand the clients' need in the region.'   In Hong Kong the bank has expanded its staff to 400 in the past three years and will continue its expansion after the change of sovereignty.

  'Some banks do not have confidence in Hong Kong and have their major operations set up in Singapore,' he said.

  'However, NatWest always has had confidence in Hong Kong. Senior staff in Hong Kong enable the bank to have quick reactions and make quick decisions on the matters related to the region.'   He believes the economic development of China will be very fast in the next three to five years which will create opportunities for the investment bank.

  He said the bank would focus in large joint venture and infrastructure projects in China.

   'We would like to set up joint ventures to invest in the power plants, petrochemical plants, telecommunication companies, highway and other infrastructure projects,' he said.

  'We also would like to act as the financial adviser on merger and acquisition matters.

  'The bank can also arrange the export credit financing and use derivative products to manage the interest rate risk and reserves for Chinese enterprises.

  'As more and more Chinese enterprises are likely to go overseas for listings, we can arrange for the global initial public offerings for those companies who would like to list in Hong Kong, New York, London and other exchanges.'   While the NatWest has representative offices in Beijing and Shanghai, he said the bank would like to apply to open a branch in Shanghai.

  Besides China, he said central banks in the region would be their target clients.

  'We can have the global execution of reserve management for the central banks in the region,' he said.

  'Since the banks have a lot of expertise in derivatives trading and bond trading, we would be able to manage the interest rate risks and investment for central bank reserves.'   NatWest Markets had a global fund management business and global securities division, he said. The bank acquired Gartmore last year, making it the fourth largest British pension fund manager.



NatWest targets region