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Credit Suisse has been hit hard by the alleged accounting scandal at Nasdaq-listed Luckin Coffee, which is understood to be behind one of the largest loans covered in the bank’s loan loss provisions for the first quarter of 2020. -
In this round-up, Shanghai-based companies are being encouraged to take advantage of the city’s Star board, China has pledged another $30m to the World Health Organization and the State Council has urged banks to boost lending to micro and small enterprises.
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In this round-up, international investors dumped Rmb208.4bn ($29.4bn) of Chinese stocks in March, and state-owned enterprises recorded a huge revenue drop in the first quarter of the year.
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New ECM head at UniCredit — NIB treasurer heads to SEB — Mills takes up newly created position at UBS
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UBS has hired Fan Yang from China Merchants Securities International as chairman of global banking for Asia, a newly created position at the Swiss firm.
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BNP Paribas has hired from Standard Chartered to bolster its Latin American debt capital markets team, GlobalCapital understands.
