Westpac appoints new CEO for New Zealand

Westpac bank has announced the appointment of Catherine McGrath pictured as CEO for its New Zealand business. The news will see McGrath take on the role from mid-November, subject to regulatory approvals. In the interim, Simon Power continues as acting CEO, after which time he will return to his role as general manager for Westpac’s…

Aviva Investors appoints new head of credit

London-headquartered asset manager, Aviva Investors, has announced the appointment of Caroline Hedges pictured as head of Credit. The news follows the promotion in June of Colin Purdie, who moved from the position to become chief investment officer of Liquid Markets.

Morgan Stanley announces sole Asia Pacific CEO

After nearly two decades working at Morgan Stanley, Wei Sun Christianson has announced in an internal memo plans to retire from her positions of co-CEO for Asia Pacific ex-Japan and CEO for China, effective from the end of the year. The content of the note seen by this news service was confirmed by a spokesperson…

Terminally ill Evergrande spreads financial contagion

China Evergrande Group, one of the biggest Chinese property developers, is like a terminally ill patient spreading an epidemic through China and beyond China. If the world’s most indebted property firm collapses, it could wreak severe damage to China’s economy and ripple throughout the wider Asian economy, so the Chinese government is expected to prevent…

ICBC issues first Chinese bank capital bond this year

The Industrial and Commercial Bank of China ICBC has issued the first bank capital offering from the mainland Chinese market this year, totalling USD 6.16 billion. The largest single-tranche offering to come from Asia in the past four years, the tier one issuance was well-received, with a mix of asset managers, corporates, insurers and quasi-sovereigns…

Prenetics becomes first HK unicorn to go public

Hong Kong-based genomic and diagnostic testing firm, Prenetics Group announced yesterday September 16 that it has entered into a definitive merger agreement with special purpose acquisition company SPAC, Artisan Acquisition Group, which is privately owned by entrepreneur, Adrian Cheng.

Citi appoints sustainability and ESG head for Asia Pacific

Citi has announced the appointment of Raphael Mun to head of Sustainability and Corporate Transitions SCT for the bank’s Banking, Capital Markets and Advisory BCMA business in Asia Pacific. The move involves Mun’s relocation to Singapore from London, where she has been practising as a senior banker in Citi’s EMEA Project Infrastructure Finance team.