Four Australians Amongst 50 Most Powerful Asian Financiers

Post by NeilMc on November 23, 2009 · Under Business News, International Business News, banking · Comment

Australian bankers have catapulted themselves into a list of Asia’s most powerful financiers, reflecting the drive by Australian financial institutions to expand their regional banking networks in Asia.

Four Australian bankers made this year Club, a list of the 50 most powerful people in Asian finance, compiled by industry publication Finance Asia.

Macquarie chief executive, Nicholas Moore, and colleague Andrew Low, who is chief operating officer for Macquarie Capital were both included in the list, as were ANZ chief executive Mike Smith and Robert Rankin, Deutsche Bank’s Asia Pacific chief.

All four on the list have either previously lived n Australia or currently work there.

Mr. Low previously used to run Macquarie Capital in Asia, but was anointed to one of the top positions in the unit, and now works alongside Michael Carapiet, Macquarie Capital’s chief executive.

Mr. Rankin previously used to run investment banking for UBS, before assuming the role as head of Deutsche’s Asia Pacific operations.

Mr. Smith, a former senior executive with HSBC, has been at the helm of Australian banking major ANZ for the last two years, and represents the only executive of a retail bank included in the list, which is dominated by investment managers, investment bankers, and central bankers.

Finance Asia said that there were a number of high profile defections within the investment banking industry over the last year, adding that being named to such a list would probably be an honour many included, would prefer to live without, as the industry comes under increasing scrutiny.

“This is not the best year to be named as a rainmaker or the man trading billions of dollars of paper at an investment bank, Investment banking is under fire as never before, leaving a question mark on whether compensation practices in the industry will survive unscathed. The fallout on Asia has been less than in the West but it’s still a good time to be low profile.” Finance Asia said.

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