Saturday, 25 April 2015
Last updated 10 hours ago
Dec 16 2008 | 3:49am ET
CLSA Asia-Pacific Markets is cutting back on its hedge fund-related businesses, the investment bank says.
"In some places like Australia and China, we plan to increase our investments and staff for new services to be launched next year," C.G. Wu, China chairman and Asia vice chairman, told Reuters. "But in other areas like hedge fund-related business, we plan to shed staff due to the decline in sales from the hedge fund industry, which is facing big pressure from redemptions,"
Wu did not offer specifics on how many employees might lose their jobs.
Meanwhile, Wu said CLSA hopes to launch an onshore private equity fund in the first quarter of the new year.
"We are certainly interested in setting up an onshore renminbi fund in China, which is like a China passport for a foreign investor, allowing you to do deals more easily," Wu said. "We are considering different ways and this matter is also subject to Chinese regulators, who I think do welcome foreign investments to support the country's economic growth.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…