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CLSA has always had a unique position in Asian finance – to its competitors it has been a curiosity, but one secretly admired for its independence. Three years after its purchase by Citic Securities, it’s now the means by which the Chinese brokerage aims to take on the world. Outspoken CEO Jonathan Slone insists the firm will flourish while keeping its identity. Can he make it happen?
Euromoney February 2017
Shariah savings scheme could be a game-changer; wealth push follows success in sukuk market.
In sharp contrast to this time last year, Asian issuers have rushed to get deals away while benign conditions last. How long will the Asia DCM boom last?
Published January 2017 euromoney.com
Jonathan Slone argues regulators are damaging the agency broking model and not helping the clients they intend to help.
Cutting off a bank for an anodyne macro equities call is an over-reaction and a backward step.
Morgan Stanley’s joint venture with MUFG in Japan makes sense on paper, combining international reach with domestic Japanese corporate and retail strength. But cultural differences meant few gave it much of a chance when it was announced. Six years on, it is proving the doubters wrong. How?
Euromoney January 2017
New capital flow channel had a limp debut; insurance industry is under the cosh.
Published December 2016 euromoney.com
SFC scrutinizes stock exchange sponsors; US pursues princeling hires.
Euromoney December 2016
Singapore's investigations into the 1MDB scandal continue to claim more big-name scalps
Outbound M&A from China has been one of the big themes in global investment banking over the past few years, much of it driven by the need to reform China’s state-owned enterprises. But it is tricky work, subject to forces beyond an adviser’s control, and only some of it is lucrative. No wonder bankers, and many selling companies, are re-evaluating whether a Chinese buyer is unequivocally a good thing.
With deal volumes weak across most of Asia, South Korea’s latest round of chaebol reform – some by choice, some by necessity – is welcome news for M&A bankers. There is plenty to do, but none of it simple, and not always lucrative.
First international test; regs and compliance must catch up.
Published November 2016 euromoney.com
There is a long list of structural challenges facing Singapore as a listing venue: a lack of big listing candidates, the allure of Nasdaq for new tech companies and the easy availability of private debt. SGX chief executive Boon Chye Loh believes the answer is to be a multi-asset hub – as his acquisition of Baltic Exchange shows. Is it enough to keep the exchange relevant?
Euromoney November 2016
Singapore’s financial sector needs to be transformed. It will not be easy.
The Monetary Authority of Singapore has come out fighting after its private banking industry was immersed in the 1MDB scandal. A tax amnesty with Indonesia has posed further difficult questions about disclosure and privacy. Now the MAS has to show its teeth without wrecking an industry the country relies on.
New debt-equity swap measures tackle corporate debt load; bank NPLs are already rising.
Australian sovereign fund committed to alternative assets; PE more important than ever, says CIO.
Euromoney predicted last month that ANZ would sell its retail and wealth management businesses to a Singaporean bank; it turns out it was already in the works. Both DBS and ANZ gain from a practical deal, though it won’t be quite as simple as it looks
Published October 2016 euromoney.com
The investment case for Myanmar is well known: the resources, the population and the convenient neighbours. What about the reality of banking on the ground? Banks may be growing fast, but they face challenges ranging from an absence of mortgages to changing rules and a national obsession with cash.
Libyan Investment Authority fails to convince court US bank duped it; Société Générale case even bigger but LIA is rudderless.