Asia investment banks risk cannibalising themselves

Author: | Published: 20 Dec 2010

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 bank’s regional general counsel in Hong Kong....