Northeast Asia

Credit Suisse has hired Rick Meng to run its onshore China private bank, handing him a critical role as it seeks to add hundreds of wealth advisers in Asia Pacific.

Diesel engine maker Weichai Power has approached the loan market for a €310m ($334m) five year borrowing via ANZ.

Former UBS banker Christopher Fok has resurfaced at CMB International in Hong Kong with a wider role covering both ECM syndicate and origination.

China’s Yancheng Oriental Investment & Development Group Co and South Korea’s Doosan Infracore Co ventured out to the DCM market on Tuesday for their respective dollar-denominated bonds.

Bad debt manager China Huarong Asset Management hit the market on Tuesday with a new triple tranche dollar deal, its third debt-raising this year.

The shock victory of Donald Trump in the US presidential elections on November 9 is already having an impact on the RMB, with the currency weakening to new record lows. We gathered some of the key views from top bank analysts in the days since which draw a picture that is far from pretty (but not hopeless) for China.

Steve Lam, a Hong Kong-based director in Citi’s capital markets origination team, has left, according to sources close to the matter.

Chinese local government financing vehicle Jiangsu Hanrui Investment Holdings tapped its outstanding 2019s last Friday in the post US-election market, raising $190m on the back of reverse enquiry.

South Korea’s Shinhan Bank is gauging investor interest for a dollar tier two subordinated bond, its second since it debuted in the bank capital market in March.

UBS is rejigging its Hong Kong-based corporate finance group (CFG) and its team of junior China-focused country bankers, affecting about 20 staff.

In this new Monday round-up from GlobalRMB, we bring you a collection of market and regulatory developments from the weekend as well as provide a preview of upcoming events this week.

The London RMB hub has been under threat from the Brexit vote, but China seems keen not to jump ship yet. The latest round of meetings have yielded a commitment to launching the long-promised London-Shanghai Stock Connect, the UK Treasury said on November 10.