Goldman Sachs and Bank of America 'moving key staff to Asia'

22 October 2010

Goldman Sachs, Bank of America and Nomura are among the financial institutions moving some of their top investment bankers to Asia.

According to Bloomberg, employees specializing in advising financial service companies are being moved to the region by the banks as a result of record share sales in Asia.

In the past 12 months, the world's five biggest initial public offerings by financial firms have taken place in the region.

Nomura is said to be in the process of installing Petter Stenby, a financial institutions banker for Europe, the Middle East and Africa, to Hong Kong as managing director at its Asian financial institutions group.

Peter Enns has recently moved from Goldman Sachs's New York base to the same location to head up its own financial institutions unit in the region, while Bank of America has hired Citigroup's Chad Holm to work in the Asia-Pacific markets.

UBS recently revealed plans to expand the size of its Asian wealth management unit by between ten and 20 per cent in the next three to five years.

By Tony Aynsley

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