With news emerging that SG has closed offices in the Philippines, Malaysia and Indonesia, serious doubt is being cast over the firm's commitment to Asian equities. Following fellow French institution, Indosuez WI Carr's departure, speculation is mounting as to whether SG Securities has any appetite left for Asian equities.
FinanceAsia hears from a good source that SG Securities has reduced its corp of analysts from 78 to 35, and that the whole department is in disarray.
In situations like this, headhunters typically circle round the carcass picking off the best analysts that remain. They will probably be targeting Philip Mok head of Hong Kong research, Li Hui head of China research,...
