Latest news with #JerryZhang
Business Recorder
15-05-2025
- Business
- Business Recorder
Stanchart builds US-based private equity team amid investment bank push
LONDON: Standard Chartered has created a dedicated team covering private equity firms, hedge funds and sovereign wealth funds, as part of a wider drive in its investment bank to win more business from financial clients, the bank said on Thursday. The bank will appoint a global head of financial sponsors in due course, it said, reporting to Molly Duffy and Jerry Zhang, its global co-heads of financial institution coverage, with Duffy leading the financial sponsors team until then. The team will initially be comprised of around 25 bankers, with some external hires to come, and will be based in New York with hubs in London and Dubai, StanChart said. The move signals the importance the Asia, Africa and Middle East-focused StanChart places on growing its income from other financial firms, which the bank said currently account for 51% of its total investment banking income and which generate higher returns on average. It also serves as a contrast to rival HSBC which earlier this year slashed its U.S. and European M&A and equity capital markets businesses, part of its biggest investment banking retrenchment in a decade as it focuses even more on Asia. Tech Accelerator: Standard Chartered Pakistan launches '7th Cohort of Futuremakers Women' While Wall Street banks have dominated global investment banking league tables in recent years, Wall Street bosses now fear an anti-American backlash amid President Donald Trump's trade war that could hurt their business. StanChart's push into the world of U.S. financial clients is the latest in an overhaul of its investment banking coverage model, which included the creation of a new banking team to cover big cross border deals, reported by Reuters last September. The bank is stepping up efforts to serve private equity clients in particular as well as targeting banks, insurers and asset managers, Sunil Kaushal, co-head of corporate and investment banking at StanChart, said. The announcement on Thursday coincides with a presentation on investment bank strategy to investors, the latest in a series of such presentations aimed at explaining its overall business strategy in greater detail.
Zawya
15-05-2025
- Business
- Zawya
Stanchart builds US-based private equity team amid investment bank push
LONDON - Standard Chartered has created a dedicated team covering private equity firms, hedge funds and sovereign wealth funds, as part of a wider drive in its investment bank to win more business from financial clients, the bank said on Thursday. The bank will appoint a global head of financial sponsors in due course, it said, reporting to Molly Duffy and Jerry Zhang, its global co-heads of financial institution coverage, with Duffy leading the financial sponsors team until then. The team will initially be comprised of around 25 bankers, with some external hires to come, and will be based in New York with hubs in London and Dubai, StanChart said. The move signals the importance the Asia, Africa and Middle East-focused StanChart places on growing its income from other financial firms, which the bank said currently account for 51% of its total investment banking income and which generate higher returns on average. It also serves as a contrast to rival HSBC which earlier this year slashed its U.S. and European M&A and equity capital markets businesses, part of its biggest investment banking retrenchment in a decade as it focuses even more on Asia. While Wall Street banks have dominated global investment banking league tables in recent years, Wall Street bosses now fear an anti-American backlash amid President Donald Trump's trade war that could hurt their business. StanChart's push into the world of U.S. financial clients is the latest in an overhaul of its investment banking coverage model, which included the creation of a new banking team to cover big cross border deals, reported by Reuters last September. The bank is stepping up efforts to serve private equity clients in particular as well as targeting banks, insurers and asset managers, Sunil Kaushal, co-head of corporate and investment banking at StanChart, said. The announcement on Thursday coincides with a presentation on investment bank strategy to investors, the latest in a series of such presentations aimed at explaining its overall business strategy in greater detail.
CBS News
16-02-2025
- Entertainment
- CBS News
Hundreds watch San Francisco Chinese New Year Parade along Market Street
Vibrant red and gold shimmered down Market Street in San Francisco as Bay Area performers and floats of shiny snakes glided down the parade route on Saturday. "We have been in the Bay Area for 15 years. This is the first time we see the parade and so we're excited," Jerry Zhang told CBS News Bay Area. He, along with hundreds of other spectators, were staking out along Market Street to grab a good spot to watch the performances. "It's pretty cool. It's not every day you get to have a snake around you," Titus Chin, a student at Tat Wong Kung Fu Academy, motioned to his snake doll around his uniform. "We've been teaching kung fu in the Bay Area for more than 40 years since 1983. And this, we've been doing the parade this whole time," Master Felipe Godoy of Tat Wong Kung Fu Academy told CBS News Bay Area. The parade began on Market and Second Streets around 5 p.m. and made its way down Kearny and Jackson Streets. San Francisco Mayor Daniel Lurie was one of the notable guests, as the honorary marshal of the Chinese New Year Parade. This annual tradition is a cherished experience for Bay Area residents that all began in the 1860s by Chinese immigrants in San Francisco. The parade had run smoothly for the most part, except for a minor delay due to one of the floats running out of gas. There was also heavy law enforcement presence throughout the perimeters of the parade to ensure the safety of everyone there. "It's actually really exciting, it's a bonding experience with all of us. And it's exciting to potentially be on TV, too," Emily Huynh, a parade volunteer with the Peninsula Asian Youth Group, told CBS News Bay Area. The festivities continue through the weekend. The community street fair will begin in Chinatown at 9 a.m. on Sunday.
