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Citigroup Pays Record $697 Million for Hong Kong Tower

Posted by Anton Murray Consulting on . Posted in News

Michelle Yun

Citigroup Inc. paid a record HK$5.4 billion ($697 million) to a unit of Wheelock & Co. for a Hong Kong office tower that will bring most of its 5,000 employees in the city under one roof.

The price for the 512,000 square-foot property in the Kowloon East district is the largest ever office transaction in Hong Kong, the New York-based bank said in a statement yesterday. The tower, scheduled for completion by the end of 2015, will be used to house staff currently spread out across offices in the city, said Weber Lo, the bank’s chief executive officer for Hong Kong and Macau.

ABN Amro Becomes Latest Bank to Withdraw From Carbon Trading

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News

Alessandro Vitelli 

ABN Amro Bank NV, the Dutch state-owned lender, withdrew from carbon trading, becoming the latest bank to exit the market after prices slumped.

ABN Amro closed its carbon desk after reviewing market activities and is working with clients to dispose of its portfolio of business, spokesman Arien Bikker said by phone today. The bank will continue to offer clearing services for carbon permits and offsets, he said. It has been active in the European Union emissions market since at least 2005.

New whisky investment fund in Hong Kong looks to rare old times

Posted by Anton Murray Consulting on . Posted in Funds Management News, News

Robin Lynam

Looking to diversify your investment portfolio? How about buying a few interesting bottles of whisky?

Asking prices for the best-known, top-end single malts have risen steeply in recent years, both at auction and in other sectors of the secondary market.

But according to industry experts there are still some bargains to be found, at least for the well informed and well connected. David Robertson certainly falls into that category.

Macquarie cuts 35 from derivatives unit

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News, Wealth Management News

Sarah Thompson and Joyce Moullakis

Macquarie Group has laid off up to 35 people in its Asia-Pacific region structured and derivatives products division, sources said on Friday night.

The cuts included as many as five local employees, while the remainder are thought to be based in Asia, with Hong Kong operations likely to bear the brunt of cuts. Macquarie clients were informed of the changes by phone on Friday morning, according to the sources.

UBS’s Hanning Replaces Grounds as Asia Investment-Bank Head

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News

Narayanan Somasundaram and Cathy Chan

UBS AG (UBSN) named Matthew Hanning as the head of its Asia-Pacific investment-banking unit, replacing Matthew Grounds, who will focus on the Swiss bank’s Australian operation.

Hanning, 46, will become head of corporate-client solutions for the region and also join UBS’s investment-banking executive committee, according to a memo to employees yesterday that was confirmed by Rob Stewart, a Hong Kong-based spokesman.