SG's Poirier bearish on China underwriting

SG China country head, Marc Poirier, discusses the pitfalls of the Chinese stock market and why he''s not chasing a domestic underwriting license.

There's a lot of excitement, or perhaps hype, about China's capital markets. A French bank recently set up a joint venture in China, which will enable it to underwrite IPOs and bond issuance, and perhaps carry out brokering further down the road. SG has had a long presence in China What's your take on how to tackle this market

Poirier There's always a temptation in business to relive past business models. In fact, investment banking is changing - it's becoming more commoditized. You can't relive the glory days of the past, however tempting. That's true for the industry globally and is reflected in the 100,000 jobs the industry has shed in the...

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