HONG KONG (Reuters) -Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific this week, sources with knowledge of the matter said, as weaker deal activities and sluggish markets in China and Hong Kong weigh on their business prospects. Morgan Stanley is cutting at least 50 investment banking jobs in
Greg Guyett oversees a broad range of businesses as the chief executive of HSBC’s global banking and markets unit, a role he took on in October 2022, just before rivals started making deep job cuts. But he’s looking to grow most of these businesses including investment banking, securities services and transaction banking, he told Financial News in a wide-ranging interview.
“Everyone, from the top brass to people like us in middle ranks, earn less than before,” said a credit manager with Bank of China, one of the country’s “big four” state-owned banks, lamenting the loss of the staggering bonuses that she used to bag in the industry’s heyday. China’s financial sector is always beholden to
The scheme has garnered considerable interest, with the department receiving applications on the first day, said Alpha Lau, the director general of InvestHK, who did not reveal the exact number. InvestHK has seen considerable interest in the new CIES scheme. Photo: Eugene Lee “It shows that high-net-worth individuals … are interested in the diverse investment
Hong Kong stocks gained as property developers advanced on speculation the city’s government will remove more curbs this month to stem an industry slump, while HSBC jumped before its earnings report. China pledged to improve policy transparency while state-run funds have stepped up intervention. The Hang Seng Index rose for a second day, adding 2.3
Developments like these have enticed high-net-worth individuals from the mainland to use Hong Kong as a base to manage their investments and diversify their portfolio. “I am very impressed by the thoughtful and excellent quality of service provided by financial advisers in Hong Kong,” said a businesswoman from Guangzhou who only wanted to be identified
“After many years of sustainable finance development, globally we see that the majority of the sizeable transactions are happening in the Organisation for Economic Co-operation and Development countries (OECD) and China,” Ma told the Post. “The rest of the emerging markets are lagging behind in terms of capacity, which has held back their development of
Lhyfe, a leader in the production of green and renewable hydrogen for transportation and industrial applications, announces it has successfully closed a €28 million financing package with its banking partners. Complementing a sound financial structure (€127.7 million of cash & cash equivalents as at 30 June 2023), the company has secured new loans for a