Australia

Barclays beat a hasty retreat this week from the bulk of its investment banking operations in Asia, shuttering offices in multiple countries and slashing hundreds of jobs amid a wider global cull in costs and personnel. It did not pull any punches, with the cuts stretching across the equities, loans and bonds products. John Loh reports.

Citi’s Asia Pacific franchise posted a solid set of numbers in 2015, which regional CEO Francisco Aristeguieta is keen to continue in a volatile 2016, according to an internal memo seen by GlobalCapital Asia.

Barclays is pulling out of the cash equities business in Asia Pacific as the bank stages a total exit from a number of countries in the region including Taiwan and Korea.

Macquarie Bank printed an eight year Swiss franc bond this week, mimicking an earlier effort from compatriot National Australia Bank.

Citi has created a consolidated Asia Pacific debt syndicate team as it seeks to take advantage of the growing relevance of local currency markets, according to an internal memo seen by GlobalCapital Asia.

National Australia Bank (NAB) priced a seven year Swiss franc note this week, making it the first international issuer in the currency for 2016.

Two senior bankers from Royal Bank of Scotland’s defunct Asian loans division have moved to Banco Santander.

The World Bank printed a five year Kangaroo note on Wednesday to kick off the Australian dollar market for the year, which could be set for a bumper couple of months.

Macquarie Securitisation Limited has mandated Macquarie Bank to arrange a new Australian RMBS deal from its Puma shelf, which could hit the market early in 2016.

Australia and New Zealand Bank has given its deputy chief executive, Graham Hodges, the additional role of acting chief financial officer.

Westpac was set to print its second foreign currency deal in as many days on Tuesday, but some bankers said the borrower ran into difficulties in euros.

Simon Cox is joining Credit Suisse as managing director and co-head of equity capital markets for Australia, leaving UBS where he worked since 2008.