Marc Luet’s Post

Issues around #workingcapital management and #inventorymanagement only form one part of the extensive list of concerns for the modern #treasurer. From working practices to increased corporate focus on #sustainability concerns, rising interest rates and dollar dominance consequences for debt management to the impact of geopolitics, the inbox will rarely have been so full. Reflecting all of this and more, Naresh Aggarwal (Association of Corporate Treasurers (ACT), Christopher Emslie (General Mills), Nicolas Cotoner (Banco Santander Asia) and Amit Pathak (Deloitte) will lead a special discussion at GTR Asia next week, seeking to provide useful and instructive advice for those operating in the treasury space, from day-to-day operational issues such as foreign exchange, supply chain disruption and commodity price volatility to longer-term strategic concerns such as climate policies, diversity and inclusion (including youth retention) and the ongoing move towards widespread digitalisation, as treasurers from companies of all sizes operating across the Asian market seek to build resilience into their organisations. A highly anticipated opportunity to connect with all corners of the Asian trade and trade finance markets, including #trade, #treasury, #tradetech and #fintech, for two days of networking and in-depth discussion. Visit www.gtreview.com/gtrasia or contact bookings@gtreview.com to secure your booking.

"Cathay Financial Holdings Co., Ltd., Taiwan's largest financial firm by assets, is doubling its staff in Singapore to track regional money flows as clients expand in South-east Asia," said Winfield Wong, CEO of Cathay United Bank's Singapore unit. The bank plans to increase its headcount to 200 by 2025, up from 100 two years ago. "There's huge outbound investment due to supply-chain diversification," Wong explained. New hires include relationship managers and private bankers to support corporate clients and wealthy individuals expanding in the region. Wong noted, "Taiwan’s Vanguard International Semiconductor Company and NXP Semiconductors are building a $7.8 billion chip plant in Singapore, and Foxconn is expanding in Vietnam." Cathay Financial, owned by the billionaire Tsai family, spans insurance, asset management, and brokerage. Wong joined Cathay in February 2023 after over 12 years with HSBC. This year, the bank will further expand its team in IT, risk, transaction management, and capital solutions. Cathay United Bank, operating in nine South-east Asian markets, has doubled its private-bank assets under management in Singapore to several hundred million dollars since 2020, with a minimum account threshold of US$2 million. Taiwan’s banking sector has reduced its exposure to China for 12 consecutive quarters, reaching a record low this year, as investment shifts towards India, Australia, and South-east Asia. #Growth #Expansion #WealthManagement #PrivateWealth #FamilyOffices #NextGen #Investment #Business #Jobs #Singapore #Taiwan I The Business Times I Bloomberg News

Our Global head of Wholesale Banking, Andrew Bester, spoke on CNBC's Squawk Box Asia in Singapore with Sri Jegarajah. Despite concerns about rebalance risks and muted growth, business sentiment and deal-making activity remain resilient, with corporates cautiously optimistic. He shared the good news is that there is financing available in the system to support deal pipelines across the 40 markets where ING is present. Click on the image below to watch the full interview.    Turning to Asia, while China's growth rates have been muted, ING has seen good growth and it remains a key market for the bank. As for Japan, another key market, he expects monetary policy to remain fairly loose this year, supporting client activity.   ING aims to put sustainability at the heart of our strategy. In 2023, we achieved a volume of sustainable finance mobilized of €115 billion bringing us well on track to our goal of €125 billion volume mobilised by 2025.    Currently visiting Asia, Andrew highlighted ING’s strategic position to deliver the global network and sector expertise for targeted investments and support sustainable finance growth in the region. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. See how we’re progressing on ing.com/climate.   #Leadership #ING #Sustainability #INGImpact #GreenFinance 

Meanwhile in #India: https://lnkd.in/eAYWJaym While global #finance is put "on edge" by the new t+1 settlement cycle, the "developing country" in south-east #Asia moves to instant #settlement. We're not talking about a niche market here, but the fourth largest in the world - and by some dimensions more than that. The extremely impressive Madhabi Puri Buch (which I had the great honor to meet in person earlier this year) and her regulatory organization SEBI shows what is technically possible and what you can achieve when you don't put up with outdated processes and structures of financial organizations. They have done a great service to all investors by essentially cutting out the middle men and eliminating settlement risks, thereby reducing costs and mitigating operational downside. There's much to be learned here for the rest of the world.

Issues around #workingcapital management and #inventorymanagement only form one part of the extensive list of concerns for the modern #treasurer. From working practices to increased corporate focus on #sustainability concerns, rising interest rates and dollar dominance consequences for debt management to the impact of geopolitics, the inbox will rarely have been so full. Reflecting all of this and more, Naresh Aggarwal (Association of Corporate Treasurers (ACT)), Christopher Emslie (General Mills), Nicolas Cotoner (Banco Santander Asia) and Amit Pathak, FCT (Deloitte) will lead a special discussion at GTR Asia next week, seeking to provide useful and instructive advice for those operating in the treasury space, from day-to-day operational issues such as foreign exchange, supply chain disruption and commodity price volatility to longer-term strategic concerns such as climate policies, diversity and inclusion (including youth retention) and the ongoing move towards widespread digitalisation, as treasurers from companies of all sizes operating across the Asian market seek to build resilience into their organisations. A highly anticipated opportunity to connect with all corners of the Asian trade and trade finance markets, including #trade, #treasury, #tradetech and #fintech, for two days of networking and in-depth discussion. Visit www.gtreview.com/gtrasia or contact bookings@gtreview.com to secure your booking.

DBS Bank is expanding its private banking team in Hong Kong by over 25% this year, driven by increasing inflows from mainland China and Taiwan, according to North Asia business head Sebastian Paredes. The bank has acquired nearly 1,200 clients from mainland China this year and seen substantial flows from Taiwan over the past 12 months. DBS Bank, Singapore’s largest lender, has capitalized on the retrenchment of older international banks in Hong Kong, surpassing Credit Suisse to become the third largest private bank in Asia, excluding onshore China, with $201 billion in assets under management. The bank’s relationship managers grew by 12% to 730 in 2023, overtaking HSBC. Paredes commended Hong Kong’s efforts to boost its status as a tourism and entertainment hub but noted the city faces competition from destinations like Japan, where a cheap yen is attracting tourists. #Growth #DBS #Business #PrivateBanking #Jobs #Expansion #PrivateWealth #WealthManagement #FamilyOffices #HongKong I Bloomberg News I Chanyaporn Chanjaroen I Denise Wee

Starting now: International Expansion Strategies for Mid-Market Businesses A free webinar brought to you in partner with Citi commercial bank. Our expert speakers from Citi, Boku, Volex and the FT will be discussing: - How is the current macroeconomic environment making it harder for mid-sized companies to expand internationally? - What role can partnerships play in helping overcome some of the challenges of expanding their operations into new regions - What regulatory challenges must companies navigate when looking to enter new markets? What is the best way for them to overcome these challenges? - As businesses scale, what digital capabilities do they need to ensure they do so in a sustainable and successful way? - How can businesses overcome the challenge posed by currency valuations when operating across borders? There's still time to register for free at: https://bit.ly/3KpsDUv

Deutsche Bank is doubling down on its China operations, seizing opportunities left by the exit of its investment banking rivals. Alexander von zur Muehlen, CEO for Asia-Pacific, affirms the bank's dedication to leveraging China's post-Covid recovery momentum, despite capacity reductions by competitors like UBS, Goldman Sachs, and Morgan Stanley. The bank has strengthened its corporate finance division and expanded its presence in debt and equity capital markets, attracting experienced professionals such as Michael Hufton and Samuel Kim. Von zur Muehlen highlights the importance of Deutsche Bank's 152-year history in China and its ability to navigate geopolitical uncertainties. He sees Hong Kong as China's financial gateway to the world, offering potential for cross-border transactions. Deutsche Bank is optimistic about inbound investments from the Middle East to China, with von zur Muehlen noting a growing pipeline of transactions between the regions. He maintains confidence in China's long-term growth prospects and foresees Hong Kong's market becoming increasingly attractive to investors. #Growth #InvestmentBanking #CorporateFinance #Business #Finance #HongKong I South China Morning Post SCMP I Mia Castagnone

HSBC found that Asean businesses are looking at investing in technology and digitalisation, expanding into new markets in Asean, supply chain resilience, expanding into new business lines, and at research and development, the survey showed. Hence, the bank is allocating US$1 billion of credit facilities through the dedicated lending fund to help the region’s companies scale up their business through digital platforms.  Asean remains a core growth engine for the globe, with a population of more than 670 million [people] and [maintaining] an average annual growth rate of 4.4%. Its potential is tremendous.  Further reading: https://lnkd.in/eJu5Q6eR

flow article: As geopolitical uncertainties increase risk for businesses around the world, how are corporate treasurers concentrating their cash and managing risk in restricted markets?   In an Economist webinar supported by Deutsche Bank, Andrea Sottoriva, group treasurer director at SITA and Amit Grover, regional director treasury intercontinental at GE HealthCare shared insights about how their companies are dealing with the challenges in countries like India and Korea.   They were joined by David Cooper, workflow solutions head APAC Deutsche Bank who stressed the importance of #digitalisation to unlock #liquidity.   Click here to find out more: https://lnkd.in/eiV7Hsu9   Economist Impact events, #CashManagement #TomorrowsTreasury