Chief Correspondent, Hong Kong
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Dec 12, 2011

Goldman’s Machin to retire from Asia post – memo

HONG KONG, Dec 12 (Reuters) – The Goldman Sachs Group
Inc banker who was co-head of the firm’s Asia investment
banking operation for six years is retiring, according to an
internal memo obtained by Reuters on Monday, the second senior
Asia banker to depart Goldman in the last month.

Mark Machin, whose most recent title was Asia-Pacific
ex-Japan vice chairman, is retiring from the firm after 20
years, the memo said. Machin spent the past few years based in
Beijing, where he was closely involved with the bank’s joint
venture Gao Hua Securities. Machin serves on the board of Gao
Hua.

Dec 9, 2011

As Europe retreats, pressure mounts on Hong Kong banks

HONG KONG, Dec 9 (Reuters) – Pressure is building on
Hong Kong banks to rein in lending and tuck away excess cash in
a move prompted in part by European lenders retreating from the
region as they deal with a debt crisis back home.

The implications are serious for the future earnings of
banks like Dah Sing Bank (2356.HK: Quote, Profile, Research) and Public Financial Holdings
(0626.HK: Quote, Profile, Research), and for Greater China corporates seeking credit lines
to keep operations running.

Dec 7, 2011

Former Lone Pine, Goldman execs plan $1 bln Asia hedge fund

HONG KONG (Reuters) – Former Lone Pine and Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) executives are aiming to raise $1 billion (640 million pounds) in an Asia-focused hedge fund, three sources said, hoping to break into a very small group of funds of that size in the region.

The plan indicates that more blockbuster fund launches in Asia could follow as investors, despite volatile markets, are willing to risk their money with managers who have track records.

Dec 7, 2011

Exclusive – Ex-Lone Pine, Goldman execs plan $1 billion Asia

HONG KONG (Reuters) – Eashwar Krishnan, a former analyst at hedge fund Lone Pine, and Tanvir Ghani, former head of capital introduction for Asia-Pacific at Goldman Sachs Group Inc (GS.N: Quote, Profile, Research), are setting up an Asia-focused hedge fund, three sources familiar with the matter said.

They are aiming to raise about $1 billion (639 million pounds), hoping to break into a very small group of funds of that size in Asia.

Dec 7, 2011

Ex-Lone Pine, Goldman execs plan $1 bln Asia hedge fund -sources

HONG KONG, Dec 7 (Reuters) – Eashwar Krishnan, a
former analyst at hedge fund Lone Pine, and Tanvir Ghani, former
head of capital introduction for Asia-Pacific at Goldman Sachs
Group Inc, are setting up an Asia-focused hedge fund,
three sources familiar with the matter said.

They are aiming to raise about $1 billion, hoping to break
into a very small group of funds of that size in Asia.

Dec 7, 2011

Ex-Lone Pine, Goldman execs plan Asia hedge fund: sources

HONG KONG (Reuters) – Eashwar Krishnan, a former analyst at hedge fund Lone Pine, and Tanvir Ghani, former head of capital introduction for Asia-Pacific at Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz), are setting up an Asia-focused hedge fund, three sources familiar with the matter said.

They are aiming to raise about $1 billion, hoping to break into a very small group of funds of that size in Asia.

Dec 2, 2011

‘Axe sheets’ grow as Credit Agricole, others dump Asia loans

HONG KONG, Dec 2 (Reuters) – Under pressure from a
spiralling debt crisis at home, Credit Agricole and other
European banks are offloading more of the loans they hold in
Asia, squeezing up lending rates and making it tougher for small
and mid-sized companies to borrow.

As French and other European-based banks look to sell
overseas assets to shore up their capital at home, they have
increased the traffic in detailed loan documents, known as axe
sheets, to other banks across Asia.

Dec 1, 2011

Newcomers to Asia banking scene fight for survival

HONG KONG, Dec 1 (Reuters) – Newcomers to the broad
Asia banking market are slugging it out in a fight for survival,
facing a shrinking fee pool, fewer deals, and weak trading
volumes.

Some brokerage and advisory shops new to the group of
regional players are pressing ahead with their Asia growth
plans, undeterred by the tough economic climate and bent on
using the broader industry struggles to their advantage.

Dec 1, 2011

Analysis: Under pressure, Macquarie looks back to the future

SYDNEY/HONG KONG (Reuters) – The fluorescent green Lamborghini, license plate: “GRRRR,” and the banker who owned it, are gone from the garage at Macquarie’s Hong Kong offices.

The growl that departed early last month in a shake-up at the Australian group’s equity derivatives arm is symbolic of the bank’s shift away from racy banking products and towards the plain vanilla.

Dec 1, 2011

Under pressure, Macquarie looks back to the future

SYDNEY/HONG KONG, Dec 1 (Reuters) – The fluorescent
green Lamborghini, license plate: “GRRRR”, and the banker who
owned it, are gone from the garage at Macquarie’s Hong Kong
offices.

The growl that departed early last month in a shake-up at
the Australian group’s equity derivatives arm is symbolic of the
bank’s shift away from racy banking products and towards the
plain vanilla.

    • About Michael

      "In June 2009, Michael Flaherty became a Chief Correspondent for Reuters News, leading a team of journalists who cover investment banking, mergers & acquisitions, private equity and hedge funds, equity capital markets, natural resources and property across Asia. He arrived in Hong Kong in Feb. 2008 as Reuters' Asia Financial Services correspondent, covering the investment banks and M&A. Flaherty was hired by Reuters in New York in Dec. 2003. He was voted Reuters Journalist of the Year for his 2007 coverage of the U.S. private equity boom and bust. He started at Reuters with the consumer group covering office retailers ..."
      Joined Reuters:
      Dec. 1, 2003
      Awards:
      Peninsula Press Club, 2002, Reuters Journalist of the Year, 2007, M&A International, 2007
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