Credit Suisse, UBS Moving Bankers to China From Hong Kong_老虎社区_美港股上老虎

Credit Suisse, UBS Moving Bankers to China From Hong Kong

Bloomberg2021-02-24

Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to ...

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RogerLew
·2021-02-25
[微笑]
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NAMNORIMAI
·2021-02-24
Hmms
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- ChiiKang:
  comment
  2021-02-25
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好話上
·2021-02-24
Good
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1
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Silverone
·2021-02-24
Nice price up
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Dlim6745
·2021-02-24
Nice
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小熊家族
·2021-02-24
Another step for China to move into the world.
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- GaryL:
  china is the next big wave
  2021-02-24
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- sgric:
  never go against the Giants
  2021-02-25
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UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as Goldman Sachs Group Inc. and JPMorgan Chase & Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase & Co. from Hong Kong, relocated in February to Shanghai after being named chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline deal.Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":363494752,"gmtCreate":1614161623676,"gmtModify":1634550938241,"author":{"id":"3576456994933601","authorId":"3576456994933601","name":"NAMNORIMAI","avatar":"https://static.tigerbbs.com/cb1dbfe36f9e10132c7609adfce35214","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576456994933601","authorIdStr":"3576456994933601"},"htmlText":"Hmms","listText":"Hmms","text":"Hmms","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/363494752","repostId":1103996457,"repostType":4,"repost":{"id":"1103996457","pubTimestamp":1614151573,"share":"https://www.laohu8.com/m/news/1103996457?lang=&edition=full","pubTime":"2021-02-24 15:26","market":"us","language":"en","title":"Credit Suisse, UBS Moving Bankers to China From Hong Kong","url":"https://stock-news.laohu8.com/highlight/detail?id=1103996457","media":"Bloomberg","summary":"Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest ","content":"<ul><li>Swiss firms are relocating bankers to lift China dealmaking</li><li>Global banks build up in world’s fastest growing major economy</li></ul><p>Credit Suisse Group AG&nbsp;and&nbsp;UBS Group AGare relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms.</p><p>Credit Suisse recently moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to the mainland, according to people familiar with the matter who asked not to be named discussing internal decisions. UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.</p><p>Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as&nbsp;Goldman Sachs Group Inc.&nbsp;and JPMorgan Chase &amp; Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.</p><p>Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase &amp; Co. from Hong Kong, relocated in February to Shanghai after being&nbsp;named&nbsp;chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.</p><p>Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.</p><p>Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.</p><p>UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.</p><p>Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.</p><p>Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.</p><p>UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline&nbsp;deal.</p><p>Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.</p><p>But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.</p><p>China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse, UBS Moving Bankers to China From Hong Kong</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCredit Suisse, UBS Moving Bankers to China From Hong Kong\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-24 15:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBS":"瑞银"},"source_url":"http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103996457","content_text":"Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms.Credit Suisse recently moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to the mainland, according to people familiar with the matter who asked not to be named discussing internal decisions. UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as Goldman Sachs Group Inc. and JPMorgan Chase & Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase & Co. from Hong Kong, relocated in February to Shanghai after being named chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline deal.Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3653882,"gmtCreate":1614192895266,"gmtModify":1635761462441,"authorId":3571887370744856,"author":{"id":3571887370744856,"idStr":"3571887370744856","authorId":3571887370744856,"name":"ChiiKang","avatar":"https://static.tigerbbs.com/3a2cc826f1bfd431e6f169540f39cef5","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":363494752,"type":1,"supId":0,"prevId":0,"content":"comment","text":"comment","html":"comment"}],"langContent":"EN"},{"id":363564765,"gmtCreate":1614156575257,"gmtModify":1631892126697,"author":{"id":"3557184148845388","authorId":"3557184148845388","name":"好話上","avatar":"https://static.tigerbbs.com/691862de47dca4069347160f30fd6f29","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3557184148845388","authorIdStr":"3557184148845388"},"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363564765","repostId":1103996457,"repostType":4,"repost":{"id":"1103996457","pubTimestamp":1614151573,"share":"https://www.laohu8.com/m/news/1103996457?lang=&edition=full","pubTime":"2021-02-24 15:26","market":"us","language":"en","title":"Credit Suisse, UBS Moving Bankers to China From Hong Kong","url":"https://stock-news.laohu8.com/highlight/detail?id=1103996457","media":"Bloomberg","summary":"Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest ","content":"<ul><li>Swiss firms are relocating bankers to lift China dealmaking</li><li>Global banks build up in world’s fastest growing major economy</li></ul><p>Credit Suisse Group AG&nbsp;and&nbsp;UBS Group AGare relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms.</p><p>Credit Suisse recently moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to the mainland, according to people familiar with the matter who asked not to be named discussing internal decisions. UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.</p><p>Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as&nbsp;Goldman Sachs Group Inc.&nbsp;and JPMorgan Chase &amp; Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.</p><p>Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase &amp; Co. from Hong Kong, relocated in February to Shanghai after being&nbsp;named&nbsp;chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.</p><p>Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.</p><p>Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.</p><p>UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.</p><p>Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.</p><p>Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.</p><p>UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline&nbsp;deal.</p><p>Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.</p><p>But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.</p><p>China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse, UBS Moving Bankers to China From Hong Kong</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCredit Suisse, UBS Moving Bankers to China From Hong Kong\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-24 15:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBS":"瑞银"},"source_url":"http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103996457","content_text":"Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms.Credit Suisse recently moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to the mainland, according to people familiar with the matter who asked not to be named discussing internal decisions. UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as Goldman Sachs Group Inc. and JPMorgan Chase & Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase & Co. from Hong Kong, relocated in February to Shanghai after being named chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline deal.Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":363512218,"gmtCreate":1614152990434,"gmtModify":1634550967295,"author":{"id":"3557140772478650","authorId":"3557140772478650","name":"Silverone","avatar":"https://static.tigerbbs.com/c607a10a86c5096e3885a17e8211f25d","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3557140772478650","authorIdStr":"3557140772478650"},"htmlText":"Nice price up","listText":"Nice price up","text":"Nice price up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363512218","repostId":1103996457,"repostType":4,"repost":{"id":"1103996457","pubTimestamp":1614151573,"share":"https://www.laohu8.com/m/news/1103996457?lang=&edition=full","pubTime":"2021-02-24 15:26","market":"us","language":"en","title":"Credit Suisse, UBS Moving Bankers to China From Hong Kong","url":"https://stock-news.laohu8.com/highlight/detail?id=1103996457","media":"Bloomberg","summary":"Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest ","content":"<ul><li>Swiss firms are relocating bankers to lift China dealmaking</li><li>Global banks build up in world’s fastest growing major economy</li></ul><p>Credit Suisse Group AG&nbsp;and&nbsp;UBS Group AGare relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms.</p><p>Credit Suisse recently moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to the mainland, according to people familiar with the matter who asked not to be named discussing internal decisions. UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.</p><p>Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as&nbsp;Goldman Sachs Group Inc.&nbsp;and JPMorgan Chase &amp; Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.</p><p>Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase &amp; Co. from Hong Kong, relocated in February to Shanghai after being&nbsp;named&nbsp;chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.</p><p>Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.</p><p>Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.</p><p>UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.</p><p>Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.</p><p>Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.</p><p>UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline&nbsp;deal.</p><p>Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.</p><p>But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.</p><p>China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse, UBS Moving Bankers to China From Hong Kong</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCredit Suisse, UBS Moving Bankers to China From Hong Kong\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-24 15:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBS":"瑞银"},"source_url":"http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103996457","content_text":"Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms.Credit Suisse recently moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to the mainland, according to people familiar with the matter who asked not to be named discussing internal decisions. UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as Goldman Sachs Group Inc. and JPMorgan Chase & Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase & Co. from Hong Kong, relocated in February to Shanghai after being named chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline deal.Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":363516359,"gmtCreate":1614152791171,"gmtModify":1634550967897,"author":{"id":"3576752726543395","authorId":"3576752726543395","name":"Dlim6745","avatar":"https://static.tigerbbs.com/d68d5e924307d752c83be76877bed2b7","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576752726543395","authorIdStr":"3576752726543395"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363516359","repostId":1103996457,"repostType":4,"repost":{"id":"1103996457","pubTimestamp":1614151573,"share":"https://www.laohu8.com/m/news/1103996457?lang=&edition=full","pubTime":"2021-02-24 15:26","market":"us","language":"en","title":"Credit Suisse, UBS Moving Bankers to China From Hong Kong","url":"https://stock-news.laohu8.com/highlight/detail?id=1103996457","media":"Bloomberg","summary":"Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest ","content":"<ul><li>Swiss firms are relocating bankers to lift China dealmaking</li><li>Global banks build up in world’s fastest growing major economy</li></ul><p>Credit Suisse Group AG&nbsp;and&nbsp;UBS Group AGare relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms.</p><p>Credit Suisse recently moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to the mainland, according to people familiar with the matter who asked not to be named discussing internal decisions. UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.</p><p>Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as&nbsp;Goldman Sachs Group Inc.&nbsp;and JPMorgan Chase &amp; Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.</p><p>Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase &amp; Co. from Hong Kong, relocated in February to Shanghai after being&nbsp;named&nbsp;chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.</p><p>Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.</p><p>Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.</p><p>UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.</p><p>Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.</p><p>Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.</p><p>UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline&nbsp;deal.</p><p>Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.</p><p>But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.</p><p>China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse, UBS Moving Bankers to China From Hong Kong</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCredit Suisse, UBS Moving Bankers to China From Hong Kong\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-24 15:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBS":"瑞银"},"source_url":"http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103996457","content_text":"Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms.Credit Suisse recently moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to the mainland, according to people familiar with the matter who asked not to be named discussing internal decisions. UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as Goldman Sachs Group Inc. and JPMorgan Chase & Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase & Co. from Hong Kong, relocated in February to Shanghai after being named chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline deal.Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":363519527,"gmtCreate":1614152343269,"gmtModify":1634550969333,"author":{"id":"3559646996357772","authorId":"3559646996357772","name":"小熊家族","avatar":"https://static.tigerbbs.com/3a5653b8f67e7f6deae6e1f8cef74bd0","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3559646996357772","authorIdStr":"3559646996357772"},"htmlText":"&nbsp;Another step for China to move into the world.","listText":"&nbsp;Another step for China to move into the world.","text":"Another step for China to move into the world.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/363519527","repostId":1103996457,"repostType":4,"repost":{"id":"1103996457","pubTimestamp":1614151573,"share":"https://www.laohu8.com/m/news/1103996457?lang=&edition=full","pubTime":"2021-02-24 15:26","market":"us","language":"en","title":"Credit Suisse, UBS Moving Bankers to China From Hong Kong","url":"https://stock-news.laohu8.com/highlight/detail?id=1103996457","media":"Bloomberg","summary":"Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest ","content":"<ul><li>Swiss firms are relocating bankers to lift China dealmaking</li><li>Global banks build up in world’s fastest growing major economy</li></ul><p>Credit Suisse Group AG&nbsp;and&nbsp;UBS Group AGare relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms.</p><p>Credit Suisse recently moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to the mainland, according to people familiar with the matter who asked not to be named discussing internal decisions. UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.</p><p>Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as&nbsp;Goldman Sachs Group Inc.&nbsp;and JPMorgan Chase &amp; Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.</p><p>Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase &amp; Co. from Hong Kong, relocated in February to Shanghai after being&nbsp;named&nbsp;chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.</p><p>Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.</p><p>Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.</p><p>UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.</p><p>Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.</p><p>Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.</p><p>UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline&nbsp;deal.</p><p>Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.</p><p>But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.</p><p>China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse, UBS Moving Bankers to China From Hong Kong</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCredit Suisse, UBS Moving Bankers to China From Hong Kong\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-24 15:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBS":"瑞银"},"source_url":"http://bloomberg.com/news/articles/2021-02-24/credit-suisse-ubs-move-bankers-to-mainland-china-from-hong-kong?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103996457","content_text":"Swiss firms are relocating bankers to lift China dealmakingGlobal banks build up in world’s fastest growing major economyCredit Suisse Group AG and UBS Group AGare relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms.Credit Suisse recently moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to the mainland, according to people familiar with the matter who asked not to be named discussing internal decisions. UBS is in the process of shifting several managing directors, though no final decision has been made, people familiar with the deliberations said.Competition is heating up in China after the nation last year allowed foreign firms to fully own their onshore securities businesses. Credit Suisse and UBS, as well as U.S. rivals such as Goldman Sachs Group Inc. and JPMorgan Chase & Co., are boosting their presence in the country, in some cases seeking to double staff, to chase after profits that are estimated to reach $47 billion in investment banking alone by 2026.Veteran banker Houston Huang, who oversaw China deal-making for JPMorgan Chase & Co. from Hong Kong, relocated in February to Shanghai after being named chief executive and head of investment banking for its securities joint venture on the mainland, people familiar said.Media representatives at the Swiss firms and JPMorgan said they couldn’t comment.Having bankers in Hong Kong, long a bridge between the West and China, is becoming less crucial as the mainland market opens. The moves are in part prompted by concerns over continued restrictions on travel to and from Hong Kong, which is making it hard to do deals on the mainland. The city has struggled to stamp out a fourth coronavirus wave, while in mainland China it’s largely business as usual.UBS and Credit Suisse both have aggressive plans to expand on the mainland. UBS in late 2018 became the first global investment bank to gain control of a local securities joint venture.Helman Sitohang, the Credit Suisse Asia Pacific chief executive officer, said in an interview last week that the bank is seeking to gain full control over its venture as soon as possible. The bank plans to double its headcount in the country and has been working to upgrade its infrastructure as well as moving bankers to China.Credit Suisse and UBS both ranked outside of the top 10 last year arranging Chinese share sales on the mainland and in Hong Kong, trailing China’s biggest firms as well as Morgan Stanley and Goldman Sachs, data compiled by Bloomberg show.UBS ranked third in advising on mergers and acquisitions in China over the past 12 months, trailing CICC and Goldman Sachs. The Swiss bank’s standing was boosted by its work on a natural gas pipeline deal.Other banks such as Morgan Stanley have also been moving people out of Hong Kong to bases on the mainland.But banks have had some difficulties in persuading Hong Kong-based senior bankers to move to due to higher taxes, lifestyle differences and family reasons.China recently signaled it would start taxing its citizens living abroad, though questions remain how broadly the authorities will apply the new rules in Hong Kong. China’s tax rate is as high as 45%, while Hong Kong’s is about 15%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3648952,"gmtCreate":1614153612278,"gmtModify":1635761629465,"authorId":3566169444998058,"author":{"id":3566169444998058,"idStr":"3566169444998058","authorId":3566169444998058,"name":"GaryL","avatar":"https://static.tigerbbs.com/528fb5afea5ab18c21c7ded16d25d53c","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":363519527,"type":1,"supId":0,"prevId":0,"content":"china is the next big <u>wave</u>","text":"china is the next big <u>wave</u>","html":"china is the next big <u>wave</u>"},{"id":3657197,"gmtCreate":1614224959345,"gmtModify":1635761314559,"authorId":3575769796360828,"author":{"id":3575769796360828,"idStr":"3575769796360828","authorId":3575769796360828,"name":"sgric","avatar":"https://static.tigerbbs.com/198d8594ee7383133c0f7a33a9a49909","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":363519527,"type":1,"supId":3648952,"prevId":0,"content":"never go against the <u>Giants</u>","text":"never go against the <u>Giants</u>","html":"never go against the <u>Giants</u>"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":25,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}