News Formal

Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs as deals slump

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 42 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 66%

HSBC Notícia

Bank,Jobs,Layoffs

HONG KONG: Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific this week, sources with knowledge of the matter said, as weaker deal activities and sluggish markets in China and Hong Kong weigh on their business prospects.

Logos of Morgan Stanley and HSBC as seen on their respective headquarters in New York and Hong Kong. at least 50 investment banking jobs in the region starting this week, three sources with knowledge of the matter said, affecting around 13 per cent of the Wall Street bank's Asia investment banking workforce of 400.

The cuts are among the largest to the two banks' China-focused investment banking teams and follow similar measures by other banks stung by a decline in deal-making activities in China amid a slowing economy. The top listing destinations for Chinese companies are facing a drought in dealmaking and shrinking valuations. Hong Kong's stock exchange saw 12 initial public offerings raise HK$4.7 billion in the first quarter, a drop of 30 per cent year on year and the worst since 2009, according to data from Deloitte.

The total value of merger and acquisition deals with China involvement shrank by 36 per cent, according to LSEG data, pointing to smaller fees bankers earned from clients.around 20 bankers in the region, following a flurry of investment bank downsizing by UBS, Citigroup and other boutique firms.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 6. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Morgan Stanley cuts dozens of investment banking jobs in Asia-Pacific: ReportHONG KONG: Morgan Stanley is cutting at least 50 investment banking jobs in the Asia-Pacific region due to a deals slump, two Reuters sources with knowledge of the matter said.
Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »

HSBC's chairman says Asia business spin-off 'will not happen'HONG KONG: HSBC Chairman Mark Tucker told the bank's shareholders in Hong Kong on Wednesday (Apr 3) a spin-off of its Asian business will not happen. "There is no appetite amongst our shareholder base, as demonstrated by last year's AGM results, to vote for a spinoff.
Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »

Japan's leading stocks could face near-term selling pressure, Wall Street banks sayHONG KONG : Japan's top-performing stocks are at risk of a sell-off because of overcrowded long positions in liquid and large companies, strategists from U.S. banks Morgan Stanley and JP Morgan say.
Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »