It comes after negotiations between Ameriprise Financial, parent of Threadneedle Asset Management, and ING over the acquisition of the latter’s Asian investment business have broken down, sources indicate.
His plan is to focus on existing relationships while also leveraging on those the CIMB Group will bring from Southeast Asia, as well as from North Asia as part of CIMB’s acquisition of RBS’s Asian arm.
BNP Paribas SA, France’s largest bank, cut about 15 equity research jobs in Asia in the last month including Jim Hung, the head of research in Taiwan, said two people with knowledge of the matter. Wee Siang Ng, a Singapore-based banks analyst, and
He was previously a member of the advisory board at Royal Bank of Scotland in Australia, a senior adviser at ABN AMRO Group and was the chairman of investment banking in Australia and New Zealand at ABN AMRO.