Roman Abramovich and his girlfriend Dasha Zhukova inspected sculptures by Takashi Murakami. Kate Moss also browsed as Hong Kong wooed wealthy art buyers with champagne, James Bond-style parties and lobster feasts.
Standard & Poor’s practices for grading commercial property bonds since the 2008 credit crisis are drawing scrutiny from Massachusetts authorities, according to three people with knowledge of the matter.
Moody’s Investors Service cautioned investors on risks in a commercial-mortgage bond deal from JPMorgan Chase & Co, the first such transaction the rating company didn’t grade since at least August 2011.
Julius Baer Group Ltd. Chief Executive Officer Boris Collardi enters the 18th-floor meeting room in the bank’s Hong Kong offices lugging a suitcase that contains a clue to the soaring pay of Asian private bankers.
Standard & Poor’s, seeking to regain market share for rating commercial-mortgage bonds after being frozen out last year, said it’s considering changing the rankings on about $102 billion of the securities it grades after releasing new ratings guidelines.
Pay increases for private bankers in Asia will slow this year as waning high-margin transactions and Europe’s debt crisis spur cost-cutting across the industry, Falcon Private Bank Ltd.’s chief executive officer said.