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  • Paul Chow, the chief executive of HSBC Asset Management (Hong Kong), has resigned to return to his old position as head of the Hong Kong Exchanges and Clearing (HKEx). Chow, who starts at HKEx in early May, replaces Kwong Ki-chi, who resigned last November.
  • Citigroup Capital Markets yesterday (Thursday) sold $200m of Taishin Financial Holding convertible bonds in less than five hours. The books were more than eight times covered and the terms the most issuer-friendly to date for any of Taiwan's new financial holding companies, which began selling CBs overseas early last year. The five year bonds offer investors a put at the end of three years with a semi-annual yield of 2.4%, at the tight end of the 2.4%-2.7% marketing range.
  • Australia Suncorp Metway enlivened moribund markets in Australia yesterday (Thursday) with a A$450m three year issue via Deutsche Bank and Macquarie Bank.
  • Deutsche Bank has lured one of Asia's best known China analysts back to Hong Kong to take up the head of Greater China equities research role. Jing Ulrich is joining to Deutsche Bank from CLSA Emerging Markets in New York, where she had been responsible for top institutional client relationships globally.
  • Investa Property Grouppriced a A$213m tap of its commercial mortgage securitisation this week via Commonwealth Bank. The deal finances the addition of three properties to the portfolio, bringing the total to 14. All the new properties have Telstra as a long term tenant.
  • JP Morgan has launched a small placement of Kumgang Korea Chemical GDRs. The $30m issue will price on Tuesday afternoon New York time. The 360,000 shares on offer are held by the company as treasury stock and under Korean regulations must be sold by the end of this month or cancelled.
  • Morgan Stanley and Citigroup held an analysts briefing on Seiko Epson in Tokyo on Monday, sparking speculation that this could be the next major IPO from Japan this year. The deal has been worked on for about two years and if it proceeds would be a fillip to the Tokyo market. Analysts estimate that market capitalisation could be close to the equivalent of $4bn. With the Tokyo Stock Exchange's freefloat rules, this would imply an offer size of around $1bn.
  • Standard Life Investments has increased its fledgling investment business in Asia, hiring John Shin as its chief representative in Korea. Shin will be responsible for representing Standard Life Investments in the Korean equities market, with his main role being to develop key strategic distribution relationships. The investment house's longer term aim is to build a fund distribution business in Korea which will complement its existing Asian coverage.
  • Japan Mitsubishi Securities has sold ¥20bn of convertible bonds for Calsonic Kansei, an auto parts manufacturer.
  • HSBC has hired Benedict Perez to replace Timothy Voake as head Asian equity sales in its New York office. Perez has previously worked as managing director, head of Asian equity sales and trading at SG Cowen in New York for five years. Before that, Perez worked for five years at ING Barings in New York, covering southeast Asian equity sales at ING Barings. He has 10 years' experience selling Asian equities to a US investor base.
  • Credit Suisse First Boston has named Paul Tregidgo, head of emerging market debt capital markets, and Peter Milhaupt, U.S. head of DCM, as global co-heads of debt capital markets. Tregidgo will relocate to London as part of the move. The move follows the resignations of John Walsh, U.S. head of DCM, and Scott Ulm, European head of DCM (DW, 4/9). Ulm remains at the firm and is expected to take a senior role in the fixed-income group, according to a spokesperson.
  • Mexico realised a seven year old ambition this week by finally ridding itself of all of its dollar denominated Brady bonds.