Investment banks need to calm down their efforts to boost
business in Asia or risk failure.
In-house counsel in Hong Kong have warned investment banks are
cannibalising each other in terms of capital by involving
themselves in deals for virtually nothing in a bid to prove
their success in the region.
They need to accept that the tougher regulatory
environment post-crisis has made it harder to do business and
as such, it could take up to five years to succeed in the
region, said one investment banks regional general
counsel in Hong Kong....