Asia Pacific

When Stephen Williams joined HSBC more than 20 years ago, the bank was a backmarker in Asian debt markets. When he retires next month, he leaves it top of the heap.

It is showtime. One year after Toshiba’s AGM triggered 12 months of shareholder revolt and the departure of the CEO and several other key figures, it is time for the next meeting. They will have plenty to discuss.

Krafton’s forthcoming record-breaking listing is just one example of a new economy deal that is propelling primary issuance volumes in South Korea. Just wait until the chaebol join the party with their own spin-offs and EV battery deals.

Paytm, whose largest shareholder is Ant Group/Alibaba, could raise India’s largest-ever IPO. It should be smoother than Ant’s own failed attempt, and that tells us something about changing regulatory positions.

The Insolvency and Bankruptcy Code was supposed to provide swift and meaningful resolution to help get state-owned Indian banks back on their feet. Does a 95% haircut with questions around confidentiality achieve that?

Non-resident Indians are a powerful force in wealth management from New York to Singapore. But as the pandemic devastates the subcontinent, this vast diaspora is reassessing its priorities.

Beijing’s push to rein in its fintech champions, including Ant and Tencent, shows no sign of abating. It fears these big corporations and is busy handing out record fines – yet it would be wise not to go too far and undermine all the good things they do.

Record profits and fines, a big loss in Indonesia, Citi’s retail departure and a once-in-a-generation merger: it has been a strange year for Taiwan’s over-crowded banking sector.

From an opening with just two stocks, in a little over two decades Ho Chi Minh City Stock Exchange has risen to a $200 billion market capitalisation.

As Vietnam’s public markets become more accessible, what happens to those who have built their success in private markets?

The country may soon be upgraded to the emerging market indices. But such are the market’s many anomalies, that the pioneers who first embraced its potential are still the ones that matter most today.

With Goldman and AmBank behind it, Malaysia aims further afield with lawsuits.

Barclays’ Asia investment bank is rebuilding after a traumatic restructuring in 2016. After a few years of steady growth, a more focused approach could make it more efficient than before.

Investors in a faith-based asset look forward to higher highs and higher lows, even as regulators crack down once more.

The two banks plus Singapore’s stock exchange and sovereign wealth vehicle believe they have the collective strength and skills to build Climate Impact X, based initially on southeast Asian forestry and mangrove projects.

Years of tough but successful IMF-led reforms have put Egypt in a great place to rebound strongly from Covid. Its future will be shaped by big infrastructure projects and by a plan to transform the nation into a powerhouse of green finance.

Merger shows Indonesia e-commerce coming of age, but can the financial services assets be combined?

The US bank’s decision to hire 2,300 new staff across its Asia wealth franchise, including 1,000 in Hong Kong alone, underlines the strength of the region and CEO Jane Fraser’s clear push in private banking.

Upstart Jarden has fine people; Nomura has network and balance sheet. Will a partnership work?

With Greensill and Archegos, António Horta-Osório has more on his plate than a medieval King. But Credit Suisse’s new chair could do something that would placate doubters and please investors: pivot firmly to Asia.

In retreating from onshore private banking in south Asia’s largest market, Citi is following the money, as it seeks to serve the rising number of Indian families fast transferring personal wealth overseas to bigger and more stable markets they know and trust.

Australian lender serves up word soup along with first-half results.

There are hopes that the innovation will assist with financial inclusion. But is gold ownership the way to achieve this?

Kentaro Okuda had been delivering. Nomura was reporting strong and sustainable profits, with a streamlined international business driven by trading in the Americas. Then came Archegos.

The Japanese bank has spent big money to hire a wealth management team, but spiralling costs and a lack of name recognition in key markets leave many asking: how realistic are its ambitions?

2020 was a breakout year for China’s financial and capital markets. The next 12 months could be just as busy, as regulators rush to approve a host of licences lodged by global financial institutions.

DBS’s deal to buy 13% of a young and privately owned bank in Shenzhen highlights not only China’s vast growth opportunities post-Covid but also the potential of the cross-border Greater Bay Area.

Anthony Tan’s 60% control of the Singaporean fintech’s voting power shows what founders can get away with when spared the rigour of an IPO.

Jane Fraser’s decision to exit 13 Asian and EMEA retail markets makes sense if the capital is redeployed in better businesses. But has Citi forgotten the power of the Asian consumer and what they will become?

With Deutsche Bank apparently turning its fortunes around globally, expectations are high for Asia to deliver growth at the fastest rate of all its operations. Asia CEO Alex von zur Mühlen tells Euromoney he wants to use the bank’s footprint and diversity of revenues to get the job done.