Morgan Stanley restructures China desk
The investment bank is restructuring its China country coverage away from the current model – in which bankers do not have sector-specific responsibilities – to one in which they will become part of the bank’s global sector desks, sources confirmed to Asiamoney PLUS. The restructure was announced on June 7.
Morgan Stanley is among the first of the global investment banks to adopt such a model for China. The changes will affect around 20 bankers across Hong Kong and China, where the bank has representative offices in Beijing and Shanghai.
Credit Suisse adopted a similar model in 2009, while banks including Bank of America Merrill Lynch and Deutsche Bank still have centralised China desks.
The restructure is notable given the size of Morgan Stanley’s China desk, which sources say is as much as double other global investment banks. The bank is not looking to reduce headcount, and the restructure will not involve the bank’s China joint venture Morgan Stanley Huaxin Securities Company.
BoC Hong Kong hires chairman and deputy CEO
Tian Guoli has been appointed chairman and non-executive director of Bank of China (BoC) Hong Kong, effective June 4. He moves from his position as chairman and executive director of Bank of China, the controlling shareholder of the Hong Kong subsidiary.
Before joining Bank of China, Tian was vice chairman of the board of directors and general manager of China CITIC Group, from December 2010 to April 2013.
Before this, from April 1999 to December 2010, he was vice president and then president of China Cinda Asset Management. Before this, he worked in various positions at China Construction Bank (CCB) for 16 years.
In other news, Wong See Hong has retired as deputy chief executive of financial markets at BoC Hong Kong, effective July 1. He will be replaced by Huang Hong.
Huang will oversee the financial market businesses including global transaction banking, global markets, investment management, insurance, asset management and other capital markets related businesses.
Huang joined BoC in February 1981 and has worked in the foreign exchange department of the bank’s London branch as well as the treasury department of the Shanghai branch. Most recently, he was general manager of BoC Luxembourg Branch. He has worked in the banking industry for more than 30 years.
Asia head of credit structuring leaves CS
Ryan Chan, Hong Kong based head of credit structuring for Asia ex-Japan at Credit Suisse left the bank in May.
He reported to Bikram Chaudhury, head of Fixed Income Division (FID) structuring for the bank, who is based in Singapore. The move was confirmed by a spokesperson for Credit Suisse.
ANZ Singapore hires loans syndications banker
Sameul Teh is joining ANZ in Singapore from DBS Bank. He will join before the end of this month, as an associate director in the syndications team, and will report to Carl Roberts, head of South and Southeast Asian loan syndications.
In other news, Aureliun Tan has been promoted to the role of associate director on the team, from senior manager. She also reports to Roberts.
Lindfeldt to head Barings global EM equities
Staffan Lindfeldt has joined Baring Asset Management, effective June 10, as head of global emerging market equities. He reports to Tim Scholefield, head of equities at the firm.
Isabelle Alexander has also joined as investment manager in the global emerging market equities team, effective June 12, reporting to Lindfeldt. Both are based in London.
Lindfeldt joins Barings from Handelsbanken Asset Management in Stockholm where he was chief portfolio manager for global emerging markets since 2006. He has invested in emerging market equities for 13 years.
Alexander joins from Pictet Asset Management, where she was a portfolio manager in the global emerging markets team.
Slade to head Apac biz development at MarketPrizm
Andy Slade will take on the role of business development director for Asia Pacific ex-Japan at MarketPrizm, the data and trading infrastructure services provider. He will report to Jay Hibbin, commercial director at the firm.
Slade joins from Dion Global Solutions where he was most recently managing director of the Asia Pacific region. Before this he was chief operating officer at Managed Information Group and head of managed services at Misys.