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Major Asian bank hires new trading boss as talent war heats up

ABC International has hired a new head of fixed income from ICBC International in Hong Kong as the talent war among big Chinese banks heats up in the city.

Fanky Miu joined ABC International, a Hong Kong-based subsidiary of mainland powerhouse Agricultural Bank of China (ABC), after almost three years at ICBC, according to his online profile.

He was an executive director and senior relationship manager in fixed income at ICBC – which, like ABC, is one of China’s Big Four banks – and was focused on clients within Chinese financial institutions and state-owned enterprises.

From 2013 to 2015, Miu worked as a treasury-product and trade-execution specialist at another Big Four firm in Hong Kong: Bank of China. He covered local and overseas financial institutions across China’s Belt and Road global infrastructure initiative.

Miu’s move to ABC, the world’s third largest bank by assets, comes as the firm records a net profit of RMB 193.1bn ($30.75bn) for 2017, an increase of 4.9% from the previous year.

Major Chinese banks have stepped up their front-office hiring in Hong Kong this year compared with 12 months ago, say headhunters. Mainland banks are increasingly attractive destinations for staff from US and European firms, particularly in ECM, a sector they now dominate in Asia. However, in Miu’s function, fixed income, Western banks still have the upper hand in Asia, and Chinese institutions like ABC typically poach most of their senior talent from one another.

Miu, who has always been based in Hong Kong, started his finance career in 2005 and spent two years as an equity derivatives trader at regional brokerage Phillip Futures. He worked for DBS’s private bank from 2007 to 2013 in a fixed-income investment advisory and execution role.

Image credit: PhonlamaiPhoto, Getty

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AUTHORSimon Mortlock Content Manager

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