Boutique bank Raine to shut HK base, offers staff Singapore move

Raine Group plans to close its Hong Kong office and is offering staff there the option to relocate to Singapore, as the New York-based boutique adviser seeks to consolidate operations in Asia, according to people with knowledge of the matter.

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Three Hong Kong staff, including a managing director, have been given the option, the people said, asking not to be named as the discussions are confidential.

The move comes amid a pickup in activity in Singapore, its biggest office in Asia, which continues to be on an expansion path, the people added.

By creating a bigger hub in the Republic, Raine is seeking to streamline operations to work more efficiently and give its most junior talent opportunities to grow, the people said.