Company Briefs Bank of America

Bank of America

Bank of America is relocating some of its dealmakers to Singapore from Hong Kong, according to people with knowledge of the matter.

Mr Dominic Tan, co-head of Asia consumer and retail investment banking, and Mr Anastasios Pefanis, who is the head of equity capital markets syndicate in the region, are among those moving to Singapore. Both will be here on a temporary basis, the people said.

Mr John Lin, a director for mergers and acquisitions (M&A), is moving to Singapore to cover South-east Asian deals. Mr James Love, the current South-east Asia M&A head, is returning to Australia.

BLOOMBERG

Renault

Renault, the Western carmaker most exposed to the Russian market, reported lower first-quarter revenues due to the war in Ukraine and a semiconductor shortage, partially offset by higher prices and rising electric vehicle sales.

The group, which also produces the Dacia and Lada brand vehicles, said yesterday that its revenue fell by 2.7 per cent from a year earlier to €9.748 billion (S$14.4 billion).

Excluding the activities of Avtovaz and Renault Russia, it was down 1.1 per cent at €8.9 billion.

REUTERS

Renault Gucci
 

Gucci sales growth missed estimates in the first quarter as lockdowns in China weighed on the performance of the biggest Kering brand.

Sales at Gucci, which generated more than half of Kering's revenue in the period, rose about 13 per cent on a comparable basis, the Paris-based company said on Thursday.

Analysts had predicted a gain of almost 19 per cent. Kering's figures follow strong results from LVMH and Hermes International last week.

BLOOMBERG