With Asian market volumes up substantially since last July, a renaissance may be underway in the world of Asian broking. Just as in the early 90s, Asian broking is starting to look profitable once again.
Indeed, while ING is selling its broking platform to Macquarie Bank, other firms have started to beef up once more. Among the bulge bracket, Merrill Lynch is said to be hiring again. And BNP Paribas Peregrine has signalled its intent to upgrade its broking business through the hire of Michael Bugel.
Bugel is an old Asia hand who knows the regional broking industry inside out. He rose to prominence at Jardine Fleming on the sales side...
