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Crédit Agricole reorganises loans business amid busy hires and promotions in industry
The future of the great investment banking Gulf expansion
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John Flint quit his position as CEO of HSBC on Monday after less than two years in the job, as the bank warned of difficult global conditions in its second quarter results. The bank’s chair Mark Tucker implied the desire for change related to a problem with Flint’s execution of the bank’s strategy, rather than the strategy itself, but the departure has also raised questions about HSBC’s Chinese operations.
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The renminbi fell beyond seven against the dollar on Monday morning for the first time in a decade, in what is viewed as China’s response to its worsening relations with the US.
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Hong Kong’s Hang Seng Index (HSI) fell by nearly 3% on Monday as a mass strike gripped the city, bringing chaos to public transport and local infrastructure.
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In this round-up, the renminbi dropped below seven per US dollar for the first time since the global financial crisis, Hong Kong-listed companies with weighted voting rights are set to be included in the Stock Connect and regulators will score securities houses based on their ability to manage public opinion.
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Credit Suisse has appointed Le Hoai Nam to lead its Vietnam investment banking and capital markets coverage, according to a source familiar with the matter.
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In this round-up, China’s official purchasing managers’ index (PMI) beats expectation, aggregate financing in the Mainland reaches Rmb13tr ($1.9tr) and Nomura’s China joint venture nears kick-off.