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Fitch Ratings has exited its joint venture in China. But far from being a step back, the move could allow the firm to set up a fully owned business. Although Fitch operated in the market for a decade, it was previously forced to play second fiddle to its local partner, said a source.
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ICBC Standard Bank has scooped up a new origination banker to join its emerging markets DCM team, focusing on central and eastern Europe, Turkey, Russia and the Middle East.
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Renminbi bullishness has served Luxembourg well. The tiny country has enjoyed substantial China-related fund flows in 2017, largely thanks to a wider offering of investments, Marc Andre Bechet, director of legal and tax at the Association of the Luxembourg Fund Industry (Alfi), told GlobalRMB.
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The government of the Emirate of Sharjah is set to become the first issuer from the Middle East to enter the Panda market, after unveiling plans to raise Rmb2bn ($315.9m) from the onshore market.
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Nomura has hired Charles Wang as chairman of China investment banking to strengthen its client coverage there, according to a memo seen by GlobalCapital Asia.
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The first meeting of the Central Banks’ and Supervisors’ Network for Greening the Financial System has broadened the emphasis of the group’s work from a focus on climate change to one on climate and the environment.