Societe Generale appoints Ashley Wilkins to the position of deputy CEO of corporate and investment banking for Asia-Pacific, while leaving him in charge of global finance for Asia as well.
Hsiao-Yun Lee, who has been building an onshore private banking business for SG in China since 2007, becomes CEO and reveals a plan to expand the team.
It's the beginning of the end of US dollar dominance, says Societe Generale, which predicts a renminbi revaluation could happen as soon as this summer.
It is critical for policymakers to withdraw fiscal and monetary stimulus at the appropriate time, says Societe Generale, adding that the coming year could see China record a trade deficit.