Daily Dispatches: New private banking head for Credit Suisse in Southeast Asia

eFC logo

Credit Suisse appoints Claudio de Sanctis as market area head for its Southeast Asia private banking business. (Finance Asia)

Morgan Stanley joins the ranks of those laying off, reportedly planning to cut roughly 1,600 jobs from its investment banking division and other securities groups. Senior employees are said to be most at risk. (CNN)

Agricultural Bank of China plans an electronic-payments system in parts of China's economy that are now entirely cash-based. (Wall Street Journal)

ICBC is opening in New Zealand. The Chinese firm’s capitalisation is over four times that of New Zealand's entire banking sector. (Asian Banking & Finance)

APAC partner at Goldman ‘retiring’ after nine years.(Bloomberg)

Macquarie’s hired an energy trader. (Bloomberg)

UK banks including Barclays, Royal Bank of Scotland Group and Lloyds Banking Group are instituting a cash cap on bonuses for 2012. (Fox Business)