The links between investment banks and Asia have grown stronger over the past few weeks. Titans such as Citigroup, Merrill Lynch and UBS have all tapped deep-pocketed Asian investors – largely sovereign wealth funds – to help bolster balance sheets battered by losses relating to the fall-out from US sub-prime mortgages.
Chinese, Singapore and even South Korean sovereign wealth has been recycled in return for stock in the down-trodden investment banks.
