The risk of global contagion is higher than ever, argue market strategists, with UK bank RBS suggesting the only safe place to be is high-grade bonds.
BNPP IP poaches from Harvest, AMP Capital undergoes reshuffle, ADS Securities opens in HK, Standard Life sets up Asia advisory board, Jones Lang LaSalle launches Xi'an branch.
The Royal Bank of Scotland will not face any disciplinary action from local authorities after it agreed to repurchase Lehman-linked equity notes sold to professional investors at 100%.
The bank agrees to buy back equity-linked notes issued to retail investors between July 2007 and May 2008.
The bank's niche fixed income and FX-focused platform will target macro, fixed income and foreign exchange hedge funds.
The newly created role signifies the UK bank's push into the crowded Asian prime brokerage market.