Bank of Beijing made a phenomenal debut on the Shanghai Stock Exchange. Yan Xiaoyan, president of the bank (left) – here shaking hands with Zhu Congjiu, Shanghai Stock Exchange’s general manager – saw share prices soaring more than 80% from the offer price, valuing the bank at more than Rmb140bn ($18.7bn).
Michael Gooch, the founder and CEO of GFI, the interdealer broker, might not be bankers’ flavour of the month. Mr Gooch has allowed hedge funds on to its system for the first time in a move that could make banks’ intermediary services superfluous.Calyon’s newly appointed CEO, Marc Litzler, starts the job with the task of recovering the bank’s reputation after unauthorised trades cost the bank €250m in September. Thomas Pixner, head of German-speaking and central and eastern Europe private banking operations for Rothschild, has snatched not one but 10 private bankers from rival leading private bank UBS
