iBanker.jp

Quote "China Investment Corp, the country’s $300bn sovereign wealth fund, this week announced its latest “worldwide” recruitment drive with 64 positions advertised. [...] The jobs on offer range from secretarial staff and human resources managers – “must be Chinese Communist Party member” – to country analyst in the international co-operation department – “must be good at keeping secrets”." Unquote   Ful article can be found here: Party faithful, your sovereign wealth fund needs you ■

Very interesting article, so I took the liberty of quoting it below: Bank pay in Singapore makes sense By PETER STEIN When it comes to pay, Wall Street could learn a thing or two from Singapore.

Continuing the SWF topic, here are some useful links for everyone trying to keep track of the latest developments: Sovereign Wealth Fund Watch SWF Radar FT In depth: Sovereign Funds Sovereign Wealth Fund Institute TM If anyone is aware of other SWF-related resources, comments are welcome!

It seems that people always have to be afraid of something that is out there. When we are kids we are scared by the ghost stories, when we grow up we blame something more specific, that is out there, but what we wrongly take for something it is not. Take UFOs. Whatever the conspiracy theorists might have to say about them, they turn out to be planes or scientifically explainable atmospheric phenomena. But they are still spooky and scare some people. Now take SWFs. Also something that is (in common understanding) alien and mistaken for something it is not. And apparently, some people also find them spooky. This week IMF gathered the representatives of the world largest SWFs to agree on the draft of Generally Accepted Principles and Practices for Sovereign Wealth Funds. Although not to be made public until October 11, when they will be presented to the IMF's governing council, they are said to contain 24 principles on [quote] legal, institutional and macroeconomic issues, as well as...

It is now official - the world is changing, and Asia is leading this change. First it was Middle East, then Singapore, and now China is joining the race to bail out the ailing Western financial institutions. China Investment Corp. ( CIC ), a sovereign wealth fund ( SWF ) will be holding up to 9.9% of Morgan Stanley shares by injecting as much as USD 5 bln . Rejoice the West, the East is coming to help you! Or is it? SWF accumulate government money that come from oil, trade or other sources, and therefore cannot be independent in the way they conduct their investments. They are formed by governments and work for them. And if Middle East and Singapore have long-lasted business relationship with the West, and can be at least to some extent expected to stay within the limits of business practice accepted in the West, can CIC be trusted just as much? CIC was established this year, and instantly made headlines by investing into Blackstone Group LP at the time of IPO . They later made los...