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Morning Coffee: CLSA set for more hiring as heavy-hitter joins team

With the senior investment-banking job market heating up in Hong Kong and China, CLSA has announced an important new hire. The Hong Kong-based brokerage, now owned by China’s Citic Securities, has appointed former Macquarie banker Andrew Low as head of international investment banking.

The hire is designed to boost CLSA’s deal-making team, according to The Australian. Meanwhile, Low looks set to be doing some recruitment of his own in the near future as his new firm expands into investment banking, building on its current research and broking business.

Low told Bloomberg that [efc_twitter text="CLSA plans to hire more bankers next year"] to provide mergers advisory, equity capital markets services and the provision of debt to companies. “We want to leverage off Citic’s access into the Chinese market, and CLSA’s strong position in research and trading in Asia, to build a first-tier investment bank globally,” he said, without providing more details. However, given CLSA’s clout in Greater China and the current trend for banks to beef up their China-coverage teams to help mainland corporates expand globally, it is likely that many of the new recruits will be based in North Asia.

Low was chief operating officer of Macquarie Capital Advisers until 2011 when he left to set up RedBridge Grant Samuel, a boutique corporate finance firm. His new job isn't the only big IBD appointment in Asia in recent days – earlier this week Morgan Stanley made Richard Chen and Jing Qian co-heads of China investment banking.

Meanwhile:

Can a recruitment firm really have the coolest workplace in Singapore? (Straits Times)

Employers in Singapore start to embrace flexible work arrangements. (Asia One)

Singapore’s debt and equity markets set for positive 2015, says OCBC. (Business Times)

Huge falls in Chinese stocks, bonds and currency. (Wall Street Journal)

Haitong Securities to takeover Banco Espírito Santo’s investment bank. (New York Times)

What Hong Kong’s exchange can learn from Singapore's. (South China Morning Post)

Sumitomo Mitsui will reportedly soon announce an agreement to buy Citi’s Japanese consumer-banking business. (Bloomberg)

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AUTHORSimon Mortlock Content Manager

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