JP Morgan hires Zhao to run emerging Asia FIG JPMorgan has hired a new head of its financial institutions group in emerging Asia, finding a partial replacement for Olivier de Grivel, the former head of the business across Asia Pacific.
Citi picks Ahmed as new Philippine CIB head Citi has given its head of Islamic banking in Asia a job running its corporate and investment bank in the Philippines, asking Usman Ahmed to replace Kristine Braden, who is now moving to the global subsidiaries business.
Westpac eyes returns to domestic RMBS Westpac Banking Corp is planning to return to the residential mortgage-backed securities market, and has lined up a A$750m ($748.7m) deal that comes quick on the heels of the first non-conforming deal in Australia all year.
Commerzbank ‘proud’ to hit EBA target early Commerzbank suffered unfortunate timing this week as its defeat in its long-running Dresdner Kleinwort bonus saga (see story on back page and below) was announced on the same day as its first quarter results — unfortunate, because in some business lines the bank had a good story to tell.
HSBC beats expectations as GBM drives growth HSBC on Tuesday beat consensus profit expectations thanks to strong performances from its global banking and markets (GBM) and commercial banking (CMB) divisions, complemented by increased revenues from its balance sheet management business as it continued to shed unwanted assets.
‘Satisfactory’ first quarter for Natixis as CIB keeps up pace French lender Natixis has reported a mild rebound in corporate and investment banking activity versus the final quarter of 2011 but a 36% drop in year on year pre-tax profit for the division.
Greece hammers Credit Agricole profits Credit Agricole SA’s pre-tax profit for the first quarter 2012 was only a little more than half what it was in the first quarter last year, largely because its cost of risk more than doubled over the same period. That increase was mainly down to provisions on Greece.
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