" For his part, Stephen Long, head of Citibank's Asia Pacific corporate banking group, based in Hong Kong, explains: "Buying banks isn't just about price.

CNN: PLUS

During his career at the firm, he also served in various other capacities including Global Co-Head of the Investment Banking Division (1999 to 2002), Head of the Corporate Finance Department (1994 to 1999) and Head of Asia-Pacific Investment Banking (1990 to 1994).

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Credit Suisse, which named Southeast Asia deal maker Helman Sitohang as its Asia-Pacific investment-banking head, and Nomura Holdings Inc.

WSJ: Investment Bankers Ride Southeast Asian Boom

"Both Singapore and Hong Kong are trying to develop their debt markets, " says Sergio Rial, Asia-Pacific CEO for Dutch banking giant ABN-Amro.

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Citigroup estimates that private banking in the Asia-Pacific region, excluding Japan, will grow at an annual rate of 20-30% in the next five years.

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This year, Southeast Asia has accounted for 17% of revenue in the Asia-Pacific region outside Japan in core investment banking, up from 15% for all of last year.

WSJ: Investment Bankers Ride Southeast Asian Boom

Deborah Schuler, vice president of the Banking Group of Moody's Asia Pacific, says banks all across Asia were guilty of plowing money back into loans rather than saving their capital for a rainy day.

CNN: Page 2

McGuire, the investment banking boss at Citicorp who represented Koch in the Georgia-Pacific purchase.

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After their crises, the banking sector went through some serious growing pains, and now both Mexico and Asia South Pacific are doing quite well economically, with no major problems.

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