Friday, 20 July 2018

Steve Garton' s stories

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  • India urges AIIB to lend more

    People & Markets | 29 June 2018

    The China-backed Asian Infrastructure Investment Bank should increase lending tenfold within two years to help the region meet its investment needs faster, Indian Prime Minister Narendra Modi said at the third annual meeting of the multilateral lender in Mumbai.

  • Mercari Inc. CEO Shintaro Yamada poses for a photograph during an interview with Reuters in Tokyo, Japan.

    Risk appetite rises in Japan

    Top News | 15 June 2018

    Where in the world can a loss-making technology company raise over US$1bn in an IPO valued at more than 27 times 2020 earnings? Japan is unlikely to be the first answer to that question, but the ¥130.5bn (US$1.2bn) listing of used-goods marketplace Mercari is the latest sign that the country’s capital markets are shrugging off their long-held conservative reputation.

  • JPM

    MOVES-JP Morgan names China CEO in renewed mainland push

    Ticker | 14 May 2018

    JP Morgan on Monday named Mark Leung as chief executive officer for China and confirmed its application for a majority-owned securities business, less than 18 months after it exited its joint venture.

  • ADB to issue first Mongolian bond

    Bonds | 04 May 2018

    The Asian Development Bank received approval this week for its first Mongolian tugrik bond, its treasurer said on Friday.

  • China buys time for IPO reforms

    People & Markets | 02 March 2018

    China has given itself two more years to introduce a registration-based IPO system, signalling that a market-driven mechanism for mainland listings is still a long way off.

  • Goldman Sachs

    MOVES-Goldman hires two in Asian equity capital markets

    Ticker | 10 January 2018

    Goldman Sachs has made two hires in Asian equity capital markets, bolstering its South-East Asian and equity-linked teams.

  • Michel Lowy

    SC Lowy sells minority stake

    Ticker | 09 January 2018

    SC Lowy, a Hong Kong-based high-yield and distressed debt specialist, has sold a 20% stake to a group of investors including Investec.

  • The logo of Swiss bank UBS is seen at an office building in Zurich, Switzerland.

    UBS doubles down on China JV

    People & Markets | 22 September 2017

    UBS Group’s top investment banker is looking to its onshore Chinese securities venture to drive growth in an uncertain period for global investment banking.

  • Barclays hires Asia ECM head

    People & Markets | 18 August 2017

    Barclays has hired convertible bonds specialist Pamela Yeung as its Hong Kong-based head of ECM origination for Asia Pacific.

  • MOVES-Structured finance veteran Zuo leaves StanChart

    Ticker | 29 June 2017

    Lesi Zuo, global head of capital market solutions at Standard Chartered, is leaving the bank for a financial technology start-up.

  • ICBC readies for credit risk, fintech challenges

    People & Markets | 23 June 2017

    The chairman of Industrial and Commercial Bank of China is more concerned about long-term challenges to the country’s financial sector than the short-term threat posed by bad loans.

  • Nomura makes Ashley head of wholesale in sweeping reshuffle

    People & Markets | 10 March 2017

    Nomura Holdings has appointed Steven Ashley as its London-based sole head of wholesale and global markets, after he has been co-running the business for the past year, as part of a raft of changes at Japan’s top brokerage.

  • Donald Trump

    Trump shock sends Asian markets plunging

    Ticker | 09 November 2016

    Asian markets plunged on Wednesday as Republican candidate Donald Trump claimed a surprise victory in the US presidential election.

  • China's Dagong pushes Silk Road bonds

    People & Markets | 09 September 2016

    Chinese rating agency Dagong is backing a proposal to introduce a new class of renminbi-denominated “Silk Road Bonds” to finance infrastructure investments along the strategic trading link.

  • NYSE sees rebound in Asian IPOs

    People & Markets | 19 August 2016

    The New York Stock Exchange sees technology companies driving a revival in new Asian listings and expects double-digit IPOs from the region through the end of 2017, according to the exchange’s global head of capital markets.

  • Deutsche Bank headquarters

    P&M: Deutsche names Faulks head of corporate finance, Japan

    Ticker | 01 August 2016

    Deutsche Bank has named Orlando Faulks head of corporate finance for Japan, following the transfer of Simon Roue to Singapore.

  • DBS Bank logo

    Asian bankers eye Japan outflows

    Top News | 29 July 2016

    Asian bankers are betting that continued monetary easing will send more Japanese money into Asian assets as investors look for higher yields.

  • Credit Suisse cuts 1,000 London jobs as turnaround gains traction

    People & Markets | 29 July 2016

    Credit Suisse has cut more than 1,000 jobs in London this year as part of chief executive Tidjane Thiam’s turnaround plan, which showed signs of progress last quarter as he cut costs, risks and the size of the investment bank.

  • China's new breed of securities JVs

    China's new breed of securities JVs

    People & Markets | 29 July 2016

    Once limited to a handful of global banks, the range of overseas investors looking to set up Chinese securities joint ventures now includes a unit of an Africa-focused oil explorer, a group that also produces paper cartons and a collection of Hong Kong retail brokerages.

  • Credit Suisse logo

    Credit Suisse cuts 1,000 London jobs as turnaround gains traction

    Ticker | 28 July 2016

    Credit Suisse has cut more than 1,000 jobs in London this year as part of chief executive Tidjane Thiam’s turnaround plan, which showed signs of progress last quarter as he cut costs, risks and the size of the investment bank.

  • P&M: Bond specialist Briscoe joins UBS Asset Management

    Ticker | 26 July 2016

    UBS Asset Management has hired Hayden Briscoe as head of fixed income for Asia Pacific.

  • Men walk past a 1Malaysia Development Berhad (1MDB) billboard at the fund's flagship Tun Razak Exchange development in Kuala Lumpur.

    US outlines case against Malaysia fund

    People & Markets | 22 July 2016

    US prosecutors last week moved to seize over US$1bn of assets they claimed were stolen from 1Malaysia Development, casting fresh scrutiny over the role banks played in raising and transferring money for the controversial state investment fund.

  • Arundhati Bhattacharya

    India's SBI implements greater discipline

    People & Markets | 06 May 2016

    India’s biggest bank is transforming the way it does business, in an effort to ensure it does not get hit with another wave of non-performing loans, its chairman says.

  • ICBC targets overseas growth

    People & Markets | 22 April 2016

    Industrial and Commercial Bank of China, the world’s largest lender by assets, is looking to expand its international business and improve its risk management, its chairman told IFR.

  • Standard Chartered headquarters in London

    StanChart targets aviation, M&A to lift returns

    People & Markets | 11 March 2016

    Standard Chartered is targeting aircraft leasing and general industries coverage in an effort to boost revenues and improve its return on assets.

  • Fine for UBS banker over placement

    People & Markets | 04 March 2016

    Hong Kong’s securities regulator last week fined a UBS equities banker HK$200,000 (US$25,725) for inadvertently advising clients to breach short-selling restrictions during a 2014 follow-on share placement for Chinese battery and carmaker BYD.

  • Citi sign

    Citigroup sells Chinese bank stake

    People & Markets | 04 March 2016

    Citigroup is selling its 20% stake in China Guangfa Bank to

  • Yen Bond House: Mitsubishi UFJ Morgan Stanley cartoon

    Yen Bond House: Mitsubishi UFJ Morgan Stanley Securities

    All Special Reports | 18 December 2015

    As Japanese investors stepped up their search for yield, one house excelled at matching international issuers with local buyers. For its leading role in developing the Samurai and global yen markets, Mitsubishi UFJ Morgan Stanley Securities is IFR’s Yen Bond House of the Year.

  • Yen Bond: Rabobank’s ¥50.8bn 10-year bond

    All Special Reports | 18 December 2015

    In Japan’s notoriously conservative domestic market, selling the first Basel III-compliant Tier 2 bond from a foreign lender was always going to be a delicate process. Dutch-headquartered Rabobank, however, was rewarded for its patience and meticulous planning with a benchmark-sized Samurai issue that paved the way for others to follow.

  • SC Lowy sets out high-yield ambitions

    People & Markets | 27 February 2015

    Asia’s growing high-yield bond market has attracted a new competitor with the arrival of SC Lowy’s first head of debt capital markets.

  • HK

    HK weathers Occupy storm

    Top News | 03 October 2014

    The massive pro-democracy protests that rocked Hong Kong last week had a relatively minor impact on the city’s financial markets, with two IPOs going ahead as scheduled amid trading that was already subdued during a holiday-shortened week.

  • Property pipeline holds firm

    Property pipeline holds firm

    Emerging Markets | 22 August 2014

    Chinese property companies are set to continue tapping the offshore bond market for the rest of the year, even though slowing sales and falling profit margins have dented the industry’s appeal.

  • China

    Issuer slams China IPO reforms

    Top News | 08 August 2014

    After waiting eight years to complete his company’s IPO, Ding Yanhui had some choice words for China’s securities regulator.

  • IFC eyes Asia’s local markets

    Bonds | 09 May 2014

    International Finance Corp is looking to ramp up its presence in Asia’s local bond markets, its top client funding official for the region has said.

  • The UBS logo is seen at the UBS 40th Annual Global Media and Communications Conference in New York.

    From syndicate desk to book deal – without riding Goldman's elevator

    People & Markets | 28 February 2014

    IFR Asia editor Steve Garton follows the trail of “Fever” the prankster and his many exploits. 

  • StanChart names new capital markets head

    People & Markets | 04 October 2013

    Standard Chartered has named a client-coverage banker as global head of capital markets, in a reshuffle of its senior management.

  • selloff asia

    Sell-off sparks fears for Asia

    Top News | 23 August 2013

    An emerging markets sell-off took on a far more ominous tone last week in Asia, as investors slashed their exposure to the region’s most vulnerable economies. India and Indonesia bore th

  • 01 Regs_738

    The REG S Cartoon: The bank faces an embarrassing resignation letter

    Capital City | 16 March 2012

    IFR Asia is pleased to introduce Reginald “Reg” Sellars, the head of debt capital markets and syndicate for Asia-Pacific (ex-Japan) at Schadenbank, a subsidiary of a non-existent German Landesbank.

  • China: Jordan threatens to derail Qiaodan IPO

    Equities | 25 February 2012

    Former NBA star Michael Jordan is threatening to derail the Rmb1.06bn (US$159m) Shanghai listing of Chinese sportswear manufacturer Qiaodan Sports. Jordan sued Qiaodan – a Chinese translation of his name – for unauthorised use of his name and jersey number 23 on Tuesday in a Chinese court.

  • China SME bond push doing little to de-risk banks

    People & Markets | 25 February 2012

    China’s move to support small businesses through a new capital-market instrument is doing little to distribute risks outside the banking sector.

  • Chinese bond buyers seek safe havens

    Bonds | 14 January 2012

    The overwhelming response to an enterprise bond auction by one of China’s top oil companies has underlined a growing awareness of credit risk in the country’s fast-growing debt markets.

  • Late payment sets alarms ringing

    Bonds | 07 January 2012

    State-owned Anshan Iron & Steel (Angang), a top-rated Chinese issuer, caused uproar on the first trading day in the PRC domestic bond market when it was accused of late payment of a maturing note.

  • China has high hopes for high-yield

    People & Markets | 07 January 2012

    China is lining up its latest attempt to introduce a high-yield bond market as a funding alternative for the country’s fast-growing businesses. The China Securities Regulatory Commission is currently studying the launch of high-yield paper in the exchange bond market, and more detailed announcements are expected in the near future.

  • Asia-Pacific Securitisation

    All Special Reports | 15 December 2011

    Second coming: Singapore’s biggest commercial mortgage-backed securitisation since 2006 proved that structured finance remains relevant in Asia even after the 2008 credit crisis. For its innovative solution to a complex refinancing, Silver Oak’s US$645m CMBS is IFR’s Asia-Pacific Securitisation of the Year.

  • Emerging Asia Bond

    All Special Reports | 15 December 2011

    Well worth the wait: Few issuers can hope to create a 30-year yield curve on their bond market debut, but one new entrant from South-East Asia managed to do just that. For proving that years of hard work really can pay off, Pertamina’s US$1.5bn 10-year and 30-year bond is IFR’s Emerging Asia Bond of the Year.

  • Deutsche sues in Asia after Nomura defection

    People & Markets | 19 November 2011

    Deutsche Bank is suing a former star origination banker after a series of defections to Japanese rival Nomura this summer. The firm has brought a case against Daniel Mamadou, its former co-head of capital markets and treasury solutions for Asia, alleging that he disclosed confidential information and instigated the resignation of a number of former colleagues.

  • China Trains

    China pledges support for railway bonds

    Top News | 15 October 2011

    China’s top regulator has clarified that bonds sold by the country’s Ministry of

  • China to unite bond markets

    People & Markets | 26 August 2011

    China’s central bank has taken a big step towards uniting the country’s multiple bond markets with a revision to clearing procedures. The People’s Bank of China said all commercial paper issued from September 1 would be settled through Shanghai Clearing House, moving the settlement from Chinabond.

  • India hiring bucks global trend

    People & Markets | 26 August 2011

    While international banks seek to scale back staff numbers elsewhere in the world, many are busy adding to their resources in India, with Barclays Capital and Credit Suisse becoming the latest firms to boost headcount in the country.

  • Shenzhen exchange to revamp ChiNext after trading dries up

    People & Markets | 06 August 2011

    The Shenzhen Stock Exchange has unveiled a revised framework for the de-listing of companies on its ChiNext board, in a move designed to boost confidence in the high-growth bourse. The new rules, revealed on July 31, aim to spruce up the image of the ChiNext – often referred to as China’s Nasdaq – through a clearing-out of illiquid stocks and companies that are not meeting basic regulations.

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