Financials
Citi recruits Goldman's Osmond for ANZ
Citigroup in Australia has recruited Tony Osmond, formerly Goldman Sachs JBWere's local Head of M&A, Natural Resources and Industrials, as its new Head of Investment Banking for Australia and New Zealand, according to reports.
ANZ said out of KEB process
The Australia and New Zealand Banking Group Ltd. (ANZ) is not considering any further participation in Lone Star Funds' sale of its 51% stake in Korea Exchange Bank (KEB), following due diligence, and will also not bid for PT Bank Panin Indonesia, according...
SWFs help AgBank shave IPO record
The IPO of the Agricultural Bank of China in Hong Kong and Shanghai raised $19.2 billion, which will breach the Industrial and Commercial Bank of China's all-time record if a further greenshoe placement takes it to an expected $22.1 billion, with much...
Update: Morgan Stanley co-head of M&A departs for Barclays
One month after news broke of Morgan Stanley's Asia Pacific head of M&A Edward King departing to Barclays, the British bank has reportedly lured one of King’s replacements at Morgan Stanley, Peter Ding.
Chinatrust still in Primus Nan Shan process
A spokesperson for Taiwanese financial group Chinatrust Financial Holding, announced that the company still seeks a 30% stake in Nan Shan Life Insurance, the local unit of American International Group, currently the subject of a delayed $2.15 billion...
CIC may drop bank stability mandate
The China Investment Corporation (CIC), the PRC's $298 billion sovereign wealth fund, may relinquish its position as holding company for China's stake majority positions in its leading banks and other financial institutions, and guarantor of financial...
Korean government delays Woori sale
The Korean government has delayed the public announcement of its privatization plans for Woori Financial Group, owner of No. 3 Korean lender Woori Bank, likely looking to increase the value of the sale.
Private equity dodges US regulatory bullets?
A couple of much-anticipated US regulatory developments for private equity that were definitely calculated to affect the industry in Asia Pacific, and indeed, worldwide, appear to either have closed, or be on the point of closing, with relatively positive...
Korean government delays Woori sale
The Korean government has announced a delay to the publication of its privatization plans for Woori Finance Holdings, owner of Number Three Korean lender Woori Bank, which has attracted the attention of the Blackstone Group among others, seeking to maximize...
Shanghai Financial fund makes largest PRC close at $1.62 billion
Shanghai Financial Industry Investment Fund, the financial services-focused private equity vehicle backed by China International Capital Corp. and Shanghai International Group, has held a first close of RMB11 billion ($1.62 billion), mostly from PRC SOEs...
Financial investors in financial services
Financial services deals put Asia Pacific private equity on the map worldwide.
Aladdin, investor consortium to buy Pepper Homeloans
A consortium of investors, including private equity firm Aladdin Capital, have bought out Australian mortgage lender and service provider Pepper Homeloans for A$20 million ($17.5 million), a figure that reportedly leaves current owners Merrill Lynch and...
StanChart expands leverage support
Standard Chartered Bank has added four new team members to its leverage finance unit for Northeast Asia, based in Hong Kong, following an increase in opportunities in the region.
Calello gains i-bank chair at Credit Suisse
Paul Calello, star investment banker at Credit Suisse in Asia Pacific from 2002 to 2007, has been appointed chairman of Credit Suisse investment bank worldwide, vacating his previous global i-bank CEO role.
ORIX plans Tokyo Star investment, partnership
ORIX Corp., the Japanese investment and financial services firm, is investing JPY10 billion ($111 million) into Advantage Partners investee Tokyo Star Bank, alongside a plan to form a corporate turnaround arm at the bank.
Blackstone may join Woori process
The Blackstone Group has been in discussions with Korea's Woori Financial Group over possible participation in the state-backed $6 billion auction of the government's 57% stake in the country's third largest banking group, at some $10.6 billion market...
AgBank announces IPO prices in Hong Kong
Ahead of its intended IPO later this year, the Agricultural Bank of China (AgBank) announced that it looks to sell 25.4 billion of its shares in Hong Kong for HK$2.88-3.48 ($0.37-0.45) apiece in hopes of raising $13 billion in the SAR.
HSBC recruits Hsu as head of leveraged finance
HSBC Holdings plc has appointed Lyndon Hsu, formerly with Credit Suisse Group, as head of leveraged and acquisition finance for Asia Pacific, joining after 14 years at the Swiss bank.
Primus suit delays EON takeover vote
Primus Pacific Partners, the single biggest stakeholder in Malaysian lender EON Capital, has caused a delay to a vote by the bank's shareholders on a $1.6 billion takeover bid from Hong Leong Bank by launching a lawsuit to block the buyout offer, claiming...
MBK sole bidder for KEB
Pan-Asian independent buyout fund MBK Partners was the only bidder to submit a formal letter of intent to purchase the 51.5% controlling stake in Korea Exchange Bank held by Lone Star Funds and valued at up to $4 billion, according to Korean press reports....
Primus Nan Shan bid gets extension
The consortium led by Primus Financial Holdings and China Strategic Holdings, which has already inked an agreement to acquire Taiwan's Nan Shan Life Insurance from American International Group (AIG), has now announced a sought-after accord with the seller...
Laskowski back for Citi in Asia
Citi has announced the appointment of veteran private equity banker Chris Laskowski as Head of its Financial Entrepreneurs Group Asia Pacific and COO for Global Banking in the region.
Shinsei Bank sacks four staff over pay
JC Flowers & Co.-owned Japanese lender Shinsei Bank will let go four foreign senior executives under new Japanese rules on annual compensation of individuals.
Goldman, GIC pick up Taikang stake
A consortium of Goldman Sachs and a unit of the Government of Singapore Investment Corporation (GIC) has fulfilled earlier predictions by winnng the auction of the 15.6% stake in the PRC's Taikang Life Insurance Corp. formerly owned by French insurance...