Tag: standard

HSBC China becomes the first locally incorporated foreign bank to help underwrite a financial bond in China, with a Rmb5 billion two-tranche deal for Bank of Shanghai. Banks are increasingly reluctant to issue new letters of credit as price swings cause orders to be cancelled and prompt some buyers to renege on contracts. HSBC creates new trade finance role in Singapore and poaches Sharon Tan from Standard Chartered to help grow the business in the region. Citigroup buys 9.3% stake in HDFC, one of India's leading providers of mortgage finance, from Standard Life taking total holding to 12.3% Standard & Poor's explains how it analyses high yield credits and why this type of asset class can become distressed more quickly than investment grade credits. Fitch lowers its outlook on the sovereign credit rating for Indonesia to stable from positive days after Standard & Poor’s flip-flopped its rating the other way around. Ex SG financier to spearhead energy deals across Asia. Consumer banking division receives a boost from executive promotions. The bank wins new custody business with Barclays Capital in Taiwan and Korea and also retains business in other key Asian markets. Deutsche Bank loses its regional trade product head to Standard Chartered. South African bank appoints head of global markets, Taiwan. In an effort to beef up its FX team, Standard Chartered announces a host of hires. Karen Fawcett and Alex Thursby answer the call of new roles. Templeton veteran Michael Reed takes on the role left vacated by Kevin Smith. In a shakeup of the HK wholesale banking division, Gloria Chow is named head of client relationships. Bank hires new associate director for its Northeast Asia loan distribution team. Will HSBC follow on with KEB, or will Temasek charge in as the dark horse? Kevin Smith has joined ABN AMRO so James Aird has arrived to manage the office. Comes from BNP to the Hong Kong-based distribution team. The high-proile KC Kwok returns to the Hong Kong government.