Asia Pacific

Bank of America unveiled the intention to expand its business in China.

According to the Wall Street Journal report, the largest US bank is considering incorporating locally in China. Such a move would mean the bank would have to allocate new capital into its Chinese unit.

The BofA seems to bulk up its commercial business in China, instead of its retail banking business, according to the report.

Sounds surprisingly but owing to the global financial crisis employees became more loyal. Thus, crisis has made more than 40% employees feel totally committed to their employer, according to a global survey from Kelly Services conducted in Europe, North America and Asia Pacific.

The annual Kelly Global Workforce Index polled about 134,000 people in 29 countries from October to January.

According to the 2010 Symantec State of Enterprise Security Study published last week ¾ of Asia Pacific enterprises along with 2/3 of businesses in Singapore have been hit by cyber attacks within the last 12 months.

The research revealed that 38% of Asia Pacific companies and 67% of Singapore enterprises cite cyber risks as their top concern more than natural disasters, terrorism, and traditional crime combined.

Visa Inc. today announced David Lee as a president of its Asia Pacific region. He succeeds Rupert Keeley, who was promoted to become Visa Inc.’s Global Head of Strategy and Corporate Development. Lee’s responsibility includes continuing to grow Visa Inc.'s business in the region. Lee will be reporting to Hans Morris, President of Visa Inc.