joins from HSBC where he held several senior positions in the private banking division In this new role, Michael will lead Coutts’ Asia, Africa and NRI teams in London.
A key part of the bank’s growth strategy internationally, Coutts has developed one of the most successful Non Resident Indian (NRI) businesses globally and aims to continue being a leading provider of exceptional private banking and wealth managemen
He currently holds the positions of chief general manager, retail distribution, and chief executive of Allianz Australia Life Insurance, will commence as the new managing director on 1 January 2013.
Following Julius Baer’s entry, Kothari-founded DSP Financial Consultants will be three separate entities – Bank of America-Merrill Lynch (investment banking and advisory), DSP BlackRock Investment Managers (the mutual fund business) and Julius
The job cuts in Asia will total up to 40 people, or less than 4% of the markets unit, one person said.
A veteran natural resources banker who has previously worked at Lehman Brothers and JP Morgan, will continue to focus on that sector, and on metals and mining in particular.