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This week has seen the launch of another new service that aims to tap into what clearly is significant demand.

Deutsche Bank has appointed Connor Kelly as its head of FX emerging markets options CEEMA and LatAm. Kelly will be based in London and will have a dual reporting line to Rob Mandeno, global head of FX spot and options, and Ahmet Arinc, head of emerging market global rates, global finance and foreign exchange. He was most recently at Goldman Sachs and before that at Calyon.

Simon Manwaring, who was previously at Bank of America, started this week at HSBC in London as a director in the bank’s FX and precious metals derivatives team. He reports to Robert Ross, HSBC’s head of G10 risk.

Colleen Wong has left Barclays, where she worked in FX bank sales. Her rumoured destination was Goldman Sachs, although the Fleet Street behemoth has denied she is going there. Looks like I got the Wong bank on that one.

In a recent interview with Euromoney magazine, Atsushi Saito, president and CEO of the Tokyo Stock Exchange Group outlined the TSE's plan to increase the number of ETFs on the Tokyo exchange to 100 in three years’ time

Best global bank 2008

Industrial and Commercial Bank of China (ICBC) now claims to have the world’s biggest market capitalization among publicly listed banks, reaching just under $339 billion at the end of 2007. That amounts to annual growth of 35%, just one of a number of impressive indicators of the bank’s recent development: it also recorded a 65% increase in after-tax profits for the fiscal year and a 16% increase in return on average equity. Although many of China’s banks found increasing deposits a reasonably straightforward process, ICBC also impressed with its efforts to diversify income streams. It increased net fee and commission income by 110% (admittedly from a relatively small base), and sale of wealth management products by Rmb1.234 trillion ($178.8 billion), a year-on-year increase of 182%.

Texas Pacific Group Adjusting risk management to fit the changing market, TPG’s expertise shines through tough times for private equity.

Nigeria debate: Nigeria leads the continent

Appetite for distressed ABS is not nearly sufficient to mop up supply.

There are always four banks in with a shout of winning the best bank in Africa award: Standard Chartered, Barclays, Citi and Standard Bank. While none of the other banks has done anything particularly wrong, one candidate stands out: South Africa’s Standard Bank. It has helped instigate the acquisition of a 20% stake in itself through a R36.7 billion ($5.5 billion) cash offer by ICBC, China’s biggest lender and the largest bank in the world by market capitalization. It is more of a marriage than a partnership, and suggests that China plans to be in Africa for the long run. It is the biggest overseas acquisition by a Chinese bank and the largest foreign investment in Africa. The deal was negotiated in quite a short time frame. The first approach was made by the Chinese at the IMF meeting in Washington DC at the end of October. The offer was put to the board. There have been shareholder meetings in both South Africa and China.

Banco Popular Dominicano continues to excel in the Dominican Republic and is the leader in the retail market. In 2007, the bank completed a subordinated debt issue raising RD$4.1 billion ($125 million) and carrying a 10-year tenor. The decision to raise money was driven by an interest in increasing its capital base to support growth. The deal is the largest issue made by a financial institution in the Dominican Republic and enabled the bank to grow its loan portfolio and achieve a capital adequacy ratio of 14.3%.