Investment banks are moving to increase headcount in China and India in anticipation of rising deal flows fuelled by strong growth rates in Asia’s largest developing economies. Both i-banks and headhunters report renewed interest in recruiting for senior positions as confidence mounts of increasing demand for services in main regional markets. (Financial Times)

Singaporean stockbroker Phillip Securities has started clawing back commissions from staff who sold toxic products - and advisers fear they may have to pay even more out of their own pockets. (Asia One)

Japanese banking group Sumitomo Mitsui Financial Group, responding to reports that it would dissolve its joint venture with Daiwa Securities, said on Friday it was in talks with the brokerage but no decision had been reached. (Reuters)

Westpac has sent hundreds of Australian employees packing this year as the group pushes ahead on the merger of back-office systems and technology platforms with its newly acquired St George subsidiary. (Herald Sun)