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NEWS | IN BRIEF

HSBC battles for $900m Thai bank
HSBC is fighting off rivals for an estimated $900m (£551m) stake in Thailand’s seventh largest bank, after state-owned Korea Development Bank joined the race for the 47.6 per cent stake of Siam City Bank yesterday. Thanachart Bank, based in Thailand, is also in the running. Final bids are due by 25 January.

Morrison takes Asia role at Citi
Citigroup has appointed Alasdair Morrison as an Asia senior adviser to aid its intended expansion across the region. Morrison was previously chief executive and chairman of Morgan Stanley Asia from 2000 to 2007. He has worked in Asia for 28 years becoming managing director for the Jardine Matheson group in 1994.

EQT director killed in Munich
Dirk Von Poschinger-Camphausen, 36, a director of private equity firm EQT who previously worked for Morgan Stanley, was killed by up to 13 gunshots as he attempted to sell his Audi A8 in preparation for a move to America. Police said yesterday they had arrested three men who are being investigated for robbery and murder. One of the suspects is a German aged 40, and a 54 year-old citizen of Croatia is also in custody. A third person has since been released.