The former banker, jailed after losing Daiwa Bank $1.1 billion via unauthorised trading, says allowing rogue traders to keep their jobs would create an incentive for them to come clean.
DBS’s purchase of Société Générale’s Asia private banking business could presage similar east-west tie-ups, says consultancy Scorpio Partnership.
Singapore-based DBS's acquisition of Société Générale's Asian private bank is expected to result in business synergies, but also the layoffs of some middle- and back-office staff.
Pinebridge taps Société Générale director, RBC WM bolsters sales team, Threadneedle opens Malaysian office, Deutsche names institutional head and Nomura hires BNPP executive.
Fresh from receiving a licence to trade equities and derivatives in Korea and more than doubling its local headcount in the past year, Société Générale is eyeing strong expansion.
The French fund manager is considering putting out an Asia absolute-return fund to address investor demand for locally focused products.