According to the report, a decision is due soon, as the Credit Suisse board is meeting next week to discuss the strategic review being undertaken by chairman Horta-Osorio and McKinsey & Co.
As many countries now slowly transition to a more normal state of affairs, we continue to see an increased interest in investing from both experienced investors and the many individuals investing their savings for the first time.
The country has seen $108.7 billion in M&A deals this year, a record high and more than quadruple the year-earlier level, making it the second-biggest market in the region after China.
The banks are hoping stem a tide of defections of burned out bankers, and stave off moves to the tech sector, where banking talent is in demand as it muscles in on financial services.
Last year, both ICBCI and CCBI paid their bonuses in September instead of March, and bankers fear a repeat this year. “ICBCI is late, but they’re not as bad as CCBI so we still expect to get paid,” said a source at the bank.
The five-year plan presented to the board in late 2019 envisioned doubling Goldman’s workforce to 600 in China, and expanding in advisory, securities and wealth management.
Last year, Nomura bought Greentech Capital Advisors, a U.S. M&A advisory firm specialising in renewable energy.