The many global banks that have established securities joint ventures in China knew their investment would take time to pay off. The latest numbers, however, show that process may be taking longer than expected.
Standard Chartered is looking to expand its mergers and acquisitions and equity capital markets businesses, and is taking on a number of senior bankers as it seeks to offset a slowdown in markets revenue with higher investment banking income.
Alibaba Group’s acquisition last week of a US$586m minority stake in Sina Weibo, the popular Chinese micro-blogging service, has taken expectations surrounding the e-commerce giant’s potential IPO to a new level.
- Structured products boost China ECM
- Asia dealmakers put banking behind them
- Asia hiring goes on as banks fine-tune
- Chinese banks emerge as bigger threat
- Richdale defects to Goldman in Asia
- HKEx targets China as profit falls
- Hong Kong lures smaller Chinese banks