SINGAPORE – Cheques were once a key feature of public servant Victor Lim’s financial armoury but they have become a relic of a bygone age.…
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China's hedge funds beat Wall Street with US$300,000 annual pay for AI, computing grads
SHANGHAI (BLOOMBERG) – When computing major Garen Zhou deferred his studies in the United States because of the Covid-19 pandemic, he applied for internships at…
Credit Suisse finds multiple failings but no criminal conduct in Archegos debacle
NEW YORK (NYTIMES) – Credit Suisse suffered humiliation and shareholder wrath this year when it lost US$5.5 billion (S$7.4 billion) from the collapse of the…
Wall Street's IPO fee machine under threat post-China crackdown
NEW YORK (BLOOMBERG) – China’s regulatory crackdown threatens to reverse a surge in underwriting fees for United States investment banks like Goldman Sachs Group, Bank…
Credit Suisse settles spying case with former wealth chief Khan
(BLOOMBERG) – Credit Suisse Group said it reached a settlement with its former wealth-management executive Iqbal Khan and a private detective firm, calling to a…
Wall Street's new fear is that economic growth has peaked
NEW YORK (BLOOMBERG) – Investment strategists are starting to consider a new bearish scenario: the economy has already hit its speed limit. With the ferocious…
Britain steps up high-stakes fight over financial services
Earlier this week, French President Emmanuel Macron attended the opening of the Paris headquarters of JPMorgan, an American investment bank. Although Mr Macron started his…
US bank profits poised to surge as Covid-19 pandemic recedes
(NYTIMES) – The United States’ biggest banks are about to report windfall profits as customers increase their spending and the economy bounces back from the Covid-19…
Nomura axes cash prime brokerage in US, Europe after Archegos: Sources
FRANKFURT (BLOOMBERG) – Nomura Holdings is pulling the plug on a large chunk of its hedge fund business as the deep losses the lender sustained…
Citi appoints five Singaporeans to senior roles across Asia
SINGAPORE (THE BUSINESS TIMES) – Citi Singapore on Tuesday said it has appointed five Singaporeans to senior roles in various business groups across Asia. Consumer…