Jennifer joined Breakingviews after three years as Reuters’ Asia Finance and Markets Editor. Prior to that, Jenn spent 18 years at the Financial Times covering various aspects of banking, finance and markets in London and New York before her move to Hong Kong in 2012. Jennifer has a BA in History from the University of Exeter and won a Knight-Bagehot fellowship to study at Columbia University, where she earned an MSc in Journalism studying alongside the MBA class.
Richard Li, the entrepreneurial son of tycoon Li Ka-shing, plans to list his pan-Asian insurer FWD in New York instead of the city where he’s a familiar face to investors. He is sacrificing both brand recognition and higher valuations. It’s a steep price for keeping more control.
The $20 bln Japanese conglomerate sacrificed just two directors after an inquiry judged insiders colluded with government officials to block activists. Yet all the top brass are tainted by association. Transparently phasing in their replacements would help rebuild investor trust.
An $800 mln IPO of the Philippines unit carries on a fruity M&A obsession that stretches back at least to KKR’s 1989 buyout of RJR Nabisco. Many segments of the brand’s multiple deals have gone sour. Maybe extracting more juice from pushing pineapples to China will be sweeter.