Singapore

Standard Chartered has added to its M&A capabilities in southeast Asia by hiring a new managing director.

ING Bank has appointed a new chief economist and head of research for Asia Pacific, following Tim Condon's retirement.

The European Central Bank switches €500m-equivalent of dollar for renminbi in its FX reserves, the International Monetary Fund adjusts China’s GDP growth forecast while recommending a more transparent monetary policy, and Singapore does a policy U-turn to support One Belt One Road (OBOR).

ICBCI DCM co-head exits — Senior India departures at Barclays — CEB hires global markets deputy — ING appoints Asia levfin head

Citic CLSA chairman Tang Zhenyi has taken charge of investment banking at the Hong Kong-based firm after Andrew Low moved to Australia in May, said sources.

ING Bank has relocated a leveraged finance banker from London to Singapore to head structured acquisition finance and sponsor coverage in Asia.

Citic CLSA has hired a longtime southeast Asia ECM banker as head of Singapore corporate finance and capital markets, sources close to the move said.

Lippo Malls Indonesia Retail Trust has opened books for a Singapore dollar perpetual non call 5.5 year offering, as two of its compatriots also hit the offshore market.

China’s FX reserves rise for the fourth consecutive month in May, a Chinese securities regulator says the country will start allowing foreign investors to trade commodities futures onshore, and Ford Motor’s onshore financial arm issues RMB-denominated bonds.

AL Learning, an education company backed by private equity firm Advent International, has approached banks for a S$178m ($128.8m) loan through three mandated lead arrangers and bookrunners.

HRnetGroup priced its S$174m ($126m) Singapore IPO at the top of the indicative range on Thursday as investors bought into its “phenomenal entrepreneur story”, said bankers.

Singapore IPOs are heating up as NetLink Trust began drumming up interest on Tuesday for a $1.5bn IPO, set to be one of the country’s largest this year, with AEP Reit expected to follow soon.