Latest Mark Austen News
Jan 17, 2023
Mark Austen, the former head of Asia’s biggest bank lobby group, has joined Flint Global to help the political and regulatory consultant firm establish a presence in Asia to advise clients on the region’s escalating geopolitical risk. Author of the article: A pedestrian in the Lujiazui Financial District in Shanghai, China, on Tuesday, Dec. 20, 2022. China appears to be seeing an increase in Covid deaths across a swath of the country that aren't being reported in government figures, according to social media posts, adding to speculation that officials are masking the full impact of their abrupt shift away from Covid Zero. Photographer: Qilai Shen/Bloomberg Photo by Qilai Shen /Bloomberg Article content (Bloomberg) — Mark Austen, the former head of Asia’s biggest bank lobby group, has joined Flint Global to help the political and regulatory consultant firm establish a presence in Asia to advise clients on the region’s escalating geopolitical risk. Advertisement 2 Article content Try refreshing your browser, or European Consultant Firm Flint hires Ex-bank Lobby Boss for Asia Push Back to video The former chief executive officer of Asia Securities Industry & Financial Markets plans to hire 10 to 20 staffers over the next year or two for the Asia markets, he said in an interview. Financial Post Top Stories Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. Email Address Sign Up By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 Thanks for signing up! A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Financial Post Top Stories will soon be in your inbox. We encountered an issue signing you up. Please try again Article content Flint is pushing into Asia as tension between the US and China has also enveloped Europe and other big economies such as Canada and Australia. Relations have become increasingly strained since former US President Donald Trump slapped tariffs on China in 2018. Despite some signs of thawing, the current administration has continued a tough-on China line, most recently seeking to restrict access to semiconductor technology. “What used to be a China-US tension can now broadened to China-West tension,” Austen said. “In the short term, the adversarial stance toward the West has mellowed somewhat. In the medium term, it’s difficult to see the rewind of the relationship at pre-Covid, pre-Trump levels. I think this is here to stay.” Advertisement 3 Article content Global banks have in the past few years ramped up in China after the country allowed foreign lenders to take full control of many of their onshore operations. That push has now slowed, or even stalled, as China’s economy slows and political risks increase. Banks including Goldman Sachs Group Inc. and Morgan Stanley last year started cutting China-focused staff. Austen, who oversaw the bank lobby group during China’s big financial opening, predicts there will be growing demand for outside advice to navigate the difficult landscape. Lenders that used to rely on local managers are now more compelled to seek second opinions on business strategy and decisions, he said. Local managers tend to give a “much more positive story” on the ground because “their livelihood depends on it” and any negative spin could lead to cut off capital access, he said. “There’s been a lack of trust between head office and those on the ground in the region,” he said. “They want to get closer to the issue. It’s not so clear Asia is the future and no one is trusting individuals on the ground they used to be before.”
Mark Austen Investments
Mark Austen has made 1 investments. Their latest investment was in PUBLIC Group International as part of their Angel on April 4, 2017.
Mark Austen Investments Activity
PUBLIC Group International