Bank of New York Mellon plans to expand its Hong Kong office to include securities broking this year as it seeks to tap Asian demand for U.S. bonds and stocks.
The former manager of a Bank of America trader in Hong Kong who alleges he engineered her dismissal rejected a suggestion he knew that assets transferred to her portfolio from his were mispriced.
Ma Sin-chi, a former Deutsche Bank managing director in Hong Kong, was sentenced to seven years in jail for accepting $3.2m in bribes.
Salaries for banks’ risk and compliance officers in Singapore and Hong Kong rose at about twice the pace of pay for similar positions at New York and London firms amid a shortage of skilled staff members, a recruiter said.
Moelis & Company have announced the appointment of Anthony Root as a Senior Advisor based in Hong Kong.
JPMorgan Chase disclosed Friday that the U.S. Justice Department and agencies from other jurisdictions are investigating hiring practices in Hong Kong that were already being probed by the Securities and Exchange Commission.
Shirlina Tsang, a former Royal Bank of Scotland Group Plc trader who pleaded guilty in Hong Kong to fraud for trying to hide losses of $30.8m, was sentenced to 50 months in jail.
A former bank executive has been jailed for four years for transferring almost US$3.72m from the Royal Bank of Scotland accounts of four clients in 2009 to compensate 10 others who suffered investment losses.
Market professionals shift jobs into security, cabbing and school tutors.
Hong Kong is on its way to regain its position as one of the world's hottest initial public offering (IPO) markets this year after hitting a four-year slump in 2012, according to data from consultancy firm PricewaterhouseCoopers (PwC).