Singapore

DBS Asia Capital has named Anuruk Karoonyavanich as its new CEO, with the appointment effective from October 1.

Bank of America Merrill Lynch and Goldman Sachs are taking a knife to their Asian investment banking operations amid slower capital markets activity and as competition from Chinese lenders intensifies. This is just the latest in a series of culls in Asia as global banks struggle to find a suitable model. Shruti Chaturvedi reports.

Siong Ooi, who until recently was head of the Asia Pacific syndicated and leveraged finance unit at Bank of America Merrill Lynch (BAML), is understood to be heading to Bank of Tokyo-Mitsubishi UFJ (BTMU) in December, according to multiple sources.

Fullerton Healthcare Corp plans to raise up to S$270.8m ($199m) in an IPO on the Singapore Exchange, launching the deal on Thursday.

International investment banks are taking a knife to their Asian operations amid slower capital markets activity, even as competition from Chinese lenders intensifies.

Singapore’s OCBC Bank has promoted Elaine Lam to the position of head of global corporate banking, succeeding George Lee who is retiring.

Intercontinental Exchange has added JP Morgan as the fourth clearing member of its ICE Clear Singapore subsidiary.

Singapore Telecommunications raised $500m on Monday, a day when credit markets in Asia slumped. Nevertheless, the investment grade issuer managed to get away with offering no new issue premium on its bonds.

Singapore-based auto leasing company Ethoz Group has attracted commitments equalling the base amount of its up to S$120m ($89m) loan, according to a source.

An average of about three covered bonds a week are expected between the start of the fourth quarter and the end of November, but with German holidays, blackout periods and elections, the two month funding window is thick with the risk of disruption.

Bank of Tokyo-Mitsubishi UFJ has hired a banker for its loans team in Singapore, according to sources.

The Singapore Exchange has signed a memorandum of understanding with Industrial and Commercial Bank of China to enhance the links between Singapore's and China’s capital markets.