Investment Banking Job Hong Kong

Investment Banking Job Hong Kong – Crédit Agricole Corporate and Investment Bank (CIB) has once again demonstrated its commitment to Hong Kong’s financial market infrastructure, which goes beyond meeting the needs of its clients, this time by playing a decisive role in the launch of CNH’s repository market: If Business. is to Be It is an important tool for starting cross-border derivatives with the mainland. “We are very committed to building a better market infrastructure for clients, other banks and regulators,” said John Luke, head of emerging markets trading in Hong Kong. Hong Kong has established itself as a major hub for managing the yuan. “We need better infrastructure to further develop the market and create new opportunities.” In July, the Hong Kong Exchanges and Clearing (HKEX) announced that it was working with the China Foreign Exchange Trading System and the Shanghai Clearinghouse to develop a cross-access program for the interbank interest rate swap markets. The initiative, known as Swap Connect, is expected to launch by the end of the year. CNH’s ability to sustain funding is critical to its success. “Previously, the only way to get CNH funds was to use forex swaps or CNH deposits,” said Gary Lu, head of the bank’s China offshore business. However, the forex market is highly volatile and depends on where the dollar is sourced from, while the CNH deposit market is relatively illiquid. Therefore, in February, Crédit Agricole CIB partnered with its Hong Kong branch in China to launch the first CNH warehouse using Chinese government bonds (CGB) and notes issued by the People’s Bank of China (PB). °C). “This is a very important business because it provides a much more stable way for CNH to access funding,” Lowe says. Crédit Agricole CIB is not only a pioneer in this business, but actively promotes the wider use of the product among financial institutions in Hong Kong to bring more liquidity to the market. “As the PB oC bill money market becomes more active, we expect the stability of the CNH funding market to improve,” says Lu. “The Swap Connect program will be launched soon [and] one of the benefits is to use PB oC bills as collateral with HKEX. If this is possible, it will save banks funding costs and increase the attractiveness of holding PB oC bills as assets. Leading this depository business is just one of many examples of the French bank’s long-term commitment to Hong Kong. Crédit Agricole CIB is very proud to have contributed to the development of the fixed income market and to be one of the best arrangers of Hong Kong dollar bonds over the past four years (in both terms). number of issues and size of hypothesis), are in a good position to do so. Between 2018 and 2022, Crédit Agricole CIB secured 306 bond issues with a total value of HK$108.2 billion ($13.8 billion), making it the second-largest issuer of the instrument after HSBC. Looking at the award period – from June 2021 to June 2022 – Crédit Agricole CIB contributed to 85 bond issues with a total value of HK$22.5 billion. Last September, Crédit Agricole was appointed as the designated market maker for CIB Southbound Bond Connect. Only 12 other banks made the list: three from Europe, two from the US, and the rest from China or Japan. Another important moment occurred in May this year, when Crédit Agricole CIB participated in the initial auction of Hong Kong’s first 20-year government bonds. Despite growing demand for such assets from pension funds and life insurance companies, Hong Kong suffers from a shortage of high-quality, long-dated Hong Kong dollar bonds. The purpose of this 20-year issuance is to further develop the Hong Kong bond market by increasing the yield curve and providing a market benchmark for long-term issuance. Only the initial sellers of the Hong Kong government bond program, of which there are 10, can participate in the initial auctions. Crédit Agricole CIB has also been very active over the past few years in helping Hong Kong transition from the Hong Kong Interbank Offered Rate (Hibor) to the alternative reference rate for the Hong Kong Dollar Average Overnight Index (Honia). In November, the bank participated in the initial auction of the first floating-rate notes linked to this new benchmark. “Crédit Agricole is very strong in the Hong Kong dollar bond market and we always strive to be at the forefront of innovation. This is how we can ensure that we bring the greatest added value to our clients. We always strive to ‘build’ a good market platform and assets improving access. So we can help our customers better manage their customers.” Crédit Agricole CIB’s efforts have certainly resonated with customers. The head of the Hong Kong branch of a Chinese bank says: “Crédit Agricole has a great business behind it. If I ask them for any hedging, especially in Forex and interest rate swaps, they can give me a very tight spread. This is very important for my bank, because our trading volumes can be large.” In addition, the bank has excellent liquidity thanks to its wide customer network – and this is very important for an individual bank, because even if CNH’s foreign market is under pressure, Crédit Agricole CIB can still offer attractive renminbi deals, the head of the treasury said. It is the convenience of Credit Agricole CIB that gives the French bank such an advantage over Hong Kong in two worlds – on the one hand in the European and US markets, and on the other hand in the North Asian markets.

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You need a personal account to use this feature. Sign in if you already have one. A pedestrian walks past the Credit Suisse logo at an office building in Hong Kong, China, March 21, 2023. /Lam Yik Get License Rights

HONG KONG, June 21 () — UBS ( UBSG.S ) will cut Asian investment banking jobs at Credit Suisse starting next month as the banks move to integrate businesses, three people familiar with the matter said.

Last week, UBS completed a surprise acquisition of rival Credit Suisse, creating a Swiss banking and wealth management giant with a $1.6 trillion balance sheet and 120,000 employees.

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There will be significant cuts at Credit Suisse’s investment bankers in the Asia-Pacific region, covering Australia and China, where the two banks have the most overlap, two of the sources said.

UBS is also looking to shed more of Credit Suisse’s Asia industry group consumer and retail and general groups, both sources said.

Most investment bankers in Credit Suisse’s technology, media and telecommunications team will be retained, three of the sources said, including traders covering financial institutions outside of China.

UBS notified employees of the possible cuts on Tuesday, the first two sources said. It is not yet clear how many jobs will be cut in total.

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This month, it was reported that UBS is seeking to retain more than 100 Credit Suisse investment bankers in Asia and is in advanced talks to retain dozens of senior traders in countries including South Korea, Thailand, Vietnam and India.

One of the three sources and a fourth person familiar with the matter said the bulk of Credit Suisse’s investment bankers in Southeast Asia have left.

A fifth source familiar with UBS’s plans said UBS’s priority now is for new regional management to review Credit Suisse’s client book and roster, as the risk profiles of the two banks’ clients are very different.

Former Credit Suisse bankers in Asia continue to operate and work independently of their new counterparts at UBS.

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