Asian bankers nervous as bonus season nears

Capital markets business is booming; But bankers fear pressure of public opinion

The top earners at Asia’s investment banking franchises are awaiting the opening of the bonus season with more than usual interest and uncertainty. Three key factors contribute to this state of nervous tension. The first is that despite all the bad news at the start of 2009, there has been a spectacular late rally in fee-winning opportunities as the IPO markets reopened in style. A senior capital markets banker in Hong Kong tells Euromoney his team are on course for their second best year ever (behind the bumper 2007) as delayed offerings are rushed to market.

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