HONG KONG (Reuters) – Bank of America has embarked on a major hiring spree across Asia, aiming to expand in the fast growing region and revive the investment banking franchise that Merrill Lynch built before the financial crisis.

The push is a surprise to rivals who thought the bank would focus more on rebuilding its U.S. business and a welcome sign for Merrill veterans in Asia who worried their new owner would fail to spend time or money to revive the Asia Pacific business.

BofA has hired Rajesh Melwani from UBS to be the Asia Pacific head of equity derivatives sales, based in Hong Kong, sources close to the matter said on Thursday.

In another BofA poach, the bank hired a real estate research team from Bell Potter Securities in Australia, led by veteran analyst Simon Garing, a source told Reuters.

HONG KONG, Feb 4 (Reuters) – Bank of America <BAC.N> has embarked on a major hiring spree across Asia, aiming to expand in the fast growing region and revive the investment banking franchise that Merrill Lynch built before the financial crisis.

The push is a surprise to rivals who thought the bank would focus more on rebuilding its U.S. business and a welcome sign for Merrill veterans in Asia who worried their new owner would fail to spend time or money to revive the Asia Pacific business.

BofA has hired Rajesh Melwani from UBS to be the Asia Pacific head of equity derivatives sales, based in Hong Kong, sources close to the matter said on Thursday [ID:nHKU000146].

In another BofA poach, the bank hired a real estate research team from Bell Potter Securities in Australia, led by veteran analyst Simon Garing, a source told Reuters [ID:nTOE61307U].

HONG KONG, Dec 31 (Reuters) – Russia’s UC RUSAL moved closer to its planned $2.6 billion Hong Kong initial public offering by unveiling key details as it aims to raise cash to repay $14.9 billion in debt.

And for the first time, in its 1,100-page listing prospectus, the world’s largest aluminium maker detailed key financial information to the public, showing a brutal first half of 2009.

The listing of privately-held RUSAL, controlled by Russian billionaire Oleg Deripaska, would be one of the first major IPOs of a non-Asian company in Hong Kong and the first Hong Kong-Paris dual listing.

RUSAL said it plans to offer 1.6 billion shares in a range of HK$9.10 to HK$12.50 each, with a listing date of Jan. 27. Pricing the IPO at the top of the range would raise $2.58 billion, and at the bottom, $1.87 billion.

HONG KONG (Reuters) – In the lucrative business of underwriting and selling company stock, J.P. Morgan led the world’s banks this year, earning an estimated $2.2 billion in fees, or nearly double what it hauled from the deals last year.

Across the investment banking industry, equity capital market (ECM) underwriting was the main driver of fees, marking a change in a sector where money made from advising on mergers and acquisitions is traditionally the cash cow.

The ECM burst was driven by resurgent stock markets across the globe and the need for companies to raise cash after last year’s market plunge.

Global ECM activity reached $888.9 billion this year, up 27.7 percent from 2008. Of that total figure, follow-on activity totaled $689 billion, with nearly half of that coming from banks seeking capital after the financial crisis took its toll.

HONG KONG/NEW YORK (Reuters) – In the lucrative business of underwriting and selling a company’s stock, J.P. Morgan led the world’s banks this year, earning an estimated $2.2 billion in fees, or nearly double what it hauled from the deals last year.

Across the investment banking industry, equity capital market (ECM) underwriting was the main driver of fees, marking a change in a sector where money made from advising on mergers and acquisitions is traditionally the cash cow.

The ECM burst was driven by resurgent stock markets across the globe and the need for companies to raise cash after last year’s market plunge.

Global ECM activity reached $866 billion this year, up 25 percent from 2008. Of that total, follow-on activity totaled

HONG KONG/NEW YORK, Dec 18 (Reuters) – In the lucrative business of underwriting and selling a company’s stock, J.P. Morgan led the world’s banks this year, earning an estimated $2.2 billion in fees, or nearly double what it hauled from the deals last year.

Across the investment banking industry, equity capital market (ECM) underwriting was the main driver of fees, marking a change in a sector where money made from advising on mergers and acquisitions is traditionally the cash cow.

The ECM burst was driven by resurgent stock markets across the globe and the need for companies to raise cash after last year’s market plunge.

Global ECM activity reached $866 billion this year, up 25 percent from 2008. Of that total, follow-on activity totaled $669 billion, with nearly half of that coming from banks seeking capital after the financial crisis took its toll.

HONG KONG (Reuters) – In the lucrative business of underwriting and selling company stock, J.P. Morgan led the world’s banks this year, earning an estimated $2.2 billion in fees, or nearly double what it hauled from the deals last year.

Across the investment banking industry, equity capital market (ECM) underwriting was the main driver of fees, marking a change in a sector where money made from advising on mergers and acquisitions is traditionally the cash cow.

The ECM burst was driven by resurgent stock markets across the globe and the need for companies to raise cash after last year’s market plunge.

Global ECM activity reached $866 billion this year, up 25 percent from 2008. Of that total figure, follow-on activity totaled $669 billion, with nearly half of that coming from banks seeking capital after the financial crisis took its toll.

HONG KONG, Dec 18 (Reuters) – In the lucrative business of underwriting and selling company stock, J.P. Morgan led the world’s banks this year, earning an estimated $2.2 billion in fees, or nearly double what it hauled from the deals last year.

Across the investment banking industry, equity capital market (ECM) underwriting was the main driver of fees, marking a change in a sector where money made from advising on mergers and acquisitions is traditionally the cash cow.

The ECM burst was driven by resurgent stock markets across the globe and the need for companies to raise cash after last year’s market plunge.

Global ECM activity reached $866 billion this year, up 25 percent from 2008. Of that total figure, follow-on activity totalled $669 billion, with nearly half of that coming from banks seeking capital after the financial crisis took its toll.

HONG KONG, Dec 11 (Reuters) – French insurer AXA <AXAF.PA> has put the auction of its 15.6 percent stake in China’s Taikang Life on hold on growning concerns that some potential buyers may be restricted under rules proposed by the insurance regulator, sources with direct knowledge of the matter said on Friday.

The French insurer’s sale of its stake in Taikang has received bids from Singapore state investor Temasek [TEM.UL], Blackstone Group <BX.N>, KKR [KKR.UL] and other funds, sources have previously said, with the stake expected to be worth around $1 billion. [ID:nHKG157023]

But concerns about China’s new draft rules on insurance company investing have sparked worries that the private equity firms lining up to bid for the stake may fail to match the regulatory standards, the sources say.

The chief worry is that the final rules will clearly prohibit foreign private equity firms from making such an investment.

HONG KONG (Reuters) – In the IPO boom that has swept through Asia this year, the Hong Kong Stock Exchange (HKEx) <0388.HK> emerged as the world’s top producer of new, publicly traded companies.

In Shanghai, it was a different story — the local exchange produced a fraction of the public offerings seen by its near neighbor, just a 2-hour plane ride south.

Given the cut-throat rivalry between stock exchanges in New York and Europe, this southern China head-to-head may appear subdued.

But some investment bankers and industry experts in Hong Kong say it’s only a matter of time before their stock exchange loses market share to Shanghai — should China decide to twist open capital controls.