The city-state has recently drawn several international asset managers
The firm is the largest issuer of AT1s globally with more than US$23 billion of the deeply subordinated bonds outstanding
The monetary authority also needs to closely monitor inflationary pressures
The company says that it now expects to return more than US$7 billion to shareholders over the 2024 to 2027 period
Hong Kong remains a core market with an established wealth ecosystem and its position as a gateway to China
It aims to improve lenders’ ability to convert assets into cash during stress events
The purchase price includes US$300 million in contingent payments
Authorities are particularly focused on fixing an inverted pay structure
The talent squeeze is being further tightened by intensifying poaching from rivals and a rising demand for qualified IPO sponsors
The deal is now expected to close on Mar 30, the filing says
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