0EOPLE
&-ARKETS
HSBC fined over Hong Kong bond sales
(ONGû+ONGSûSECURITIESûREGULATORûHASûlNEDû
HSBCû(+Mû53M ûFORûhSYSTEMICû
DElCIENCIESvûINûITSûBONDûSELLINGûPRACTICESûINû
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INVESTMENTS
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DILIGENCEûONûINDIVIDUALûBONDSûBEFOREûMAKINGû
recommendations to clients.
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regulator is only interested in protecting
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BONDS ûINûPARTICULARûTHEIRûFAILUREûTOûBRIEFûCLIENTSû
properly around the risks associated with these
PRODUCTSûSUCHûASûLACKûOFûLIQUIDITY
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RELATIVELYûLOWûIFûTHEû3&#ûWASûTRYINGûTOûSENDûAû
hSTRONGûMESSAGEvûTOûTHEûMARKET
“This is generally in line with other
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/NûAûGLOBALûSCALEû53MûISNTûLARGE û
ESPECIALLYûAFTERû3&!4ûTHEûAPPEALSûTRIBUNAL û
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INADVERTENTLYûSENDINGûAûMESSAGEûTHATûIFûYOUû
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only dealing with sophisticated market
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banking clients complained of losses arising
from the purchase of those products.
)Nû*ANUARYûTHISûYEAR ûTHEû3&#ûISSUEDûAû
circular warning licensed corporations of
compliance failures related to the
DISTRIBUTIONûOFûCOMPLEXûBONDSûANDû
structured products.
Thomas BlottCiti shuffles Asia levfin team
CITIGROUP has announced changes to its loan
ANDûACQUISITIONûlNANCEûTEAMûINû!SIA
0ACIlC û
including the hires in Australia of Alok
Jhingan and Simon Marrison.
HINGANûJOINSûASûDIRECTORûANDûCO
HEADûOFû
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ANDûSYNDICATEDûlNANCEûTEAMûWITHû
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4RACEY ûWHOûCOVERSûCORPORATES
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2ISTEVSKI ûHEADûOFûlNANCIALûSPONSORSûû
INDUSTRIALS ûANDû-ARRISON ûWHOûWASûRECENTLYû
HIREDûINû2ISTEVSKISûTEAMûASûDIRECTOR
HINGANûANDû-ARRISONûPREVIOUSLYûWORKEDûATû
Deutsche Bank in Sydney for nearly 12 years.
HINGANûWASûHEADûOFûLEVERAGEDûANDûACQUISITIONû
lNANCE ûWHILEû-ARRISONûWASûAûVICE
PRESIDENTûWITHû
RESPONSIBILITYûFORûlNANCIALûSPONSORSûCOVERAGE
HINGANûANDû4RACEYûREPORTûTOûOHNû
-C,EAN ûHEADûOFûCAPITALûMARKETSûORIGINATION û
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.G ûHEADûOFûDEBTûSYNDICATEûANDûACQUISITIONû
lNANCING û!SIA
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Vivi Basilakis ûAûDIRECTORûINû#ITIGROUPSû
LEVERAGEDûANDûACQUISITIONûlNANCEûTEAMûINû
!USTRALIA ûHASûLEFTûTHEûBANKû3HEûJOINEDûINû
2011 after a four-year stint as senior
MANAGERûINû!.:SûLEVERAGEDûANDûACQUISITIONû
lNANCEûTEAMûINû3YDNEYALL CHANGE
%LSEWHEREûINû(ONGû+ONG ûAsghar Ali will lead
ALLûTRANSACTIONSûFORûlNANCIALûSPONSORû
lNANCINGûCOVERAGEûFORûTHEûREGIONûANDûWORKû
closely with loan transactors responsible for
INDIVIDUALûGEOGRAPHIES
(EûWILLûALSOûWORKûWITHûTHEûBANKSûGLOBALû
ASSETûMANAGERSûGROUPûTOûORIGINATE ûSTRUCTUREû
ANDûEXECUTEûDEALS ûWHILEûCONTINUINGûTOû
OVERSEEûLOANûORIGINATIONûFORûTHEû!SSOCIATIONû
OFû3OUTH
%ASTû!SIANû.ATIONSûREGIONûANDû)NDIA
4HEûGEOGRAPHICALûCOVERAGEûISûSPLITû
between members of the team with Vincent
YeungûRESPONSIBLEûFORû#HINAûANDû4AIWAN û
Esmond TamûHANDLINGû(ONGû+ONG û3OUTHû
+OREAûANDû3OUTH
%ASTû!SIAûEX
6IETNAM ûANDû
Chiranjeev KumarûTAKINGûCAREûOFû)NDIA û
"ANGLADESH û3RIû,ANKAûANDû6IETNAM
4HEûFOURûWILLûCONTINUEûTOûREPORTûTOû.G û
HEADûOFûDEBTûSYNDICATEûANDûACQUISITIONû
lNANCING û!SIA
0ACIlCThe US bank has also appointed Prosenjit
Saha as head of loan sales for South and
3OUTH
%ASTû!SIAû3AHAûWILLûOVERSEEûLOANû
SALESûINûTHEû!SSOCIATIONûOFû3OUTH
%ASTû!SIANû
Nations region and India while keeping his
EXISTINGûRESPONSIBILITIESûOFûDISTRIBUTINGû
STRUCTURED ûLEVERAGEDûANDûCOMPLEXû
lNANCINGSûFORûTHEûBANKSûCAPITALûMARKETSû
ORIGINATIONûUNITûINû!SIA
0ACIlC
He will manage two bankers with
DISTRIBUTIONûRESPONSIBILITIESûnû+ELVINû
,IM ûWHOûISûBASEDûINû3INGAPORE ûANDû
another person to be appointed in
India shortly.
Saha will also continue to handle
#ITIGROUPSûSECONDARYûLOANûANDûTRADINGû
BUSINESSûINû!SIA
0ACIlCû"ASEDûINû(ONGû
+ONG û3AHAûWILLûREPORTûTOû.G
Saha joined the US bank in India in 2000
ANDûHASûWORKEDûINûTHEû#-/ûUNITûSINCEû
û)Nû*ANUARYû ûHEûMOVEDûTOû(ONGû
+ONGûTOûHANDLEûLOANSûORIGINATIONûFORû
3OUTH
%ASTû!SIAû)Nû!PRILû ûHEûJOINEDû
THEûLOANûSYNDICATEûANDûSALESûTEAMûCOVERINGû
4HAILAND û-ALAYSIAûANDû)NDIA
Prakash Chakravarti