His father is Zeng Qinghong, a top Communist Party cadre and former Beijing kingmaker (think Graham Richardson and the Labor Party of the 1990s) who is credited with brokering the deal that saw Xi Jinping catapulted into pole position in the race to becom
The transaction, which is subject to regulatory approvals and the agreement of the terms of ancillary commercial contracts, is expected to complete during the second half of 2012 and represents further progress in the execution of HSBC's strategy.
The merger is seen creating the country’s fourth-largest private bank. In a disclosure to the Philippine Stock Exchange on Thursday, PNB said it had received notice from the PDIC approving the merger, subject to certain conditions, details of which
Global banks scaled back cross-border lending to companies, governments and each other at the fastest rate since 2008 in the final quarter of last year, the Bank for International Settlements said last month.
BNY Mellon has been selected to provide global custody, fund accounting, performance & risk analytics and compliance services for the Fund, which has assets totalling approximately US$1 billion.
“There’s a general tendency to move toward lower-capital, fee-based models so that might explain the appeal for strategic buyers,” said Matthias de Wit, a Brussels-based analyst at Petercam SA. “Still, it’s a tricky market to
The latest example of this is Swiss luxury watch brand, Hublot, which opened its second boutique in Shanghai Tuesday.
The China Investment Corporation (CIC), the nation's sovereign wealth fund, said Wednesday its overseas portfolio yield for 2011 stood at negative 4.3 percent due to slow recovery of global economy and the European debt crisis.
Chairman Wang Dongming entered exclusive talks with Credit Agricole in March over the French bank’s remaining CLSA stake to add overseas research, brokerage and investment banking to Citic Securities’s operations.
The survey of fund management business covered the overall value of assets reported in the sub-sectors of asset management, fund advisory and private banking, as well as SFC-authorized real estate investment trusts (REITs).
Singapore Exchange (SGX) announced Thursday its higher mainboard admission standards, aiming at ensuring its position as a competitive and relevant global exchange and attracting larger companies seeking to list here.
New Asian hedge funds collected US$4.43bil in 2011, powered by major launches such as ex-Goldman Sachs Group Inc trader Morgan Sze's Azentus and former Asia head of Highbridge Capital Carl Huttenlocher's Myriad.