Boutique Bank Raine to Shut HK Base, Offers Staff Singapore Move

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

Three Hong Kong staff, including a managing director, have been offered to move, 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 said.