Hong Kong SAR

In this round-up, Russian bank VTB tightens co-operation with China Development Bank, latest Hong Kong and Singapore deposit data, the Azeri state oil fund reports first holdings of RMB in its foreign currency reserves, and Bank of China and China Construction Bank H1 2015 reports highlight progress in cross-border RMB business.

When stress levels at work peak, it’s every banker's dream to quit working and travel around the globe. And last week, I was invited to the farewell drinks of a senior banker friend who had decided to do exactly that.

IPO bankers are treading cautiously around two of the post-summer season’s most highly anticipated trades in Hong Kong, after a global sell-off in stocks sent investors packing and clouded the outlook on shares sales with China links.

Bank of America Merrill Lynch has bolstered its Asia Pacific investment banking team with a new hire from Morgan Stanley.

A $240m dividend recapitalisation loan for Asia Satellite Telecommunications' (AsiaSat) sponsor Carlyle has seen seven banks commit so far, with one more lender awaited.

Cigarette maker Philip Morris flagged off pre-deal investor education for an up to Rph26.70tr ($1.92bn) follow-on transaction in its Indonesian subsidiary HM Sampoerna on September 2, with the process set to run for two weeks.

Shanghai Pudong Development Bank Co (SPDB) is due to start roadshow for a proposed dollar bond this week.

Bank of America Merrill Lynch has bolstered its Asia Pacific investment banking team with a new hire from Morgan Stanley.

Bank of America Merrill Lynch has added to its ECM syndicate desk in Hong Kong with an internal transfer, according to sources with knowledge of the move.

The vast majority of payments from South Korea to China and Hong Kong are now processed in RMB, Swift said in its latest RMB Tracker report issued on September 1. A day earlier, the State Administration of Foreign Exchange (Safe) said it had added three new Seoul-based institutional investors to the RMB qualified foreign institutional investor (RQFII) programme in August, with 60% of the Rmb80bn ($12.4bn) country quota now distributed.

Nomura has appointed Chee Pin Lee as the head of financial products and solutions for wealth management, Asia ex-Japan, in what is a newly created role at the bank.

Law firm Ropes & Gray has strengthened its private equity practice, hiring Daniel Yeh as a partner in the Hong Kong office.