Investment banking: Eastern promise

While investment bankers in the west expect a difficult 2008, counterparts in Asia cite the successful closing of buyouts, bond issuances and IPOs during the market turmoil as proof of the region’s opportunities. Lawrence White reports.

Venturing off the radar

“THE CENTRE OF gravity of the global financial markets has shifted to Asia,” says the head of investment banking for the region at a top US bank over breakfast in Hong Kong. Although capital markets activity has slowed in Asia as a result of investor and issuer caution about events in the US, eastern markets are not as paralysed by a lack of liquidity as those in the west. There’s money to be put to work; the owners of that capital have just become a little more cautious as to how it should be deployed.

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