cuts

UBS plans to exit fixed income businesses and cut its headcount by roughly 10,000. It will focus more on its private bank, which is a growth area in Asia.

The Japanese bank has come to a “mutual” agreement with Leahy, a senior debt capital markets banker.

The bank has made major lay-offs in institutional and retail equity sales and structuring in the region, amid whispers it plans to shut its equities and corporate finance units globally.

Michael Cho, and at least 14 other MDs from Asia, are leaving the firm as part of market-place driven cuts.

The job losses are primarily in Hong Kong and Singapore where most of the Swiss firm's private bankers are located.

The US firm has dismissed four managing directors, three vice-presidents and six associates, according to market sources.

Australia''s largest bank closes its institutional markets offices in Singapore, Korea and Malaysia, as well as its Tokyo-based securities company.

The market for long-term Korean bonds gets a boost from state mortgage company.

Andrew Kwek steps down at the end of this month.