Daily Dispatches: Singapore stays as Citi hub, despite global cuts

By eFinancialCareers Asia | EFinancialCareers – Fri, Dec 7, 2012 10:53 AM SGT

Singapore will retain its status as a regional hub for Citigroup even as the banking giant’s new chief executive introduces radical new measures globally, including 11,000 job cuts and a pull-back from some markets. (Today)

J.P. Morgan will relocate its Latin America CEO Nicolas Aguzin to Hong Kong to head the bank’s Asia-Pacific operations as part of a global management reshuffle. (Finance Asia)

An earnings growth of 5.5 per cent awaits DBS and UOB in 2013. (Asian Banking & Finance)

The insurance business on China’s mainland may grow slowly as life insurers face investment risk and keen competition while seeing lower operating margin in the non-life sector, Fitch Ratings said yesterday. (Shanghai Daily)

Starbucks expects China to become its largest market outside the US in 2014. (Wall Street Journal)


 
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