Top Headlines in the Last 7 Days
(12th – 18th Jun 2017)
No. 1 Indosuez Wealth Management in Talks to Acquire CIC in Singapore & Hong Kong
Indosuez Wealth Management has started exclusive discussions to acquire the private banking arm of CIC bank in Singapore and Hong Kong.
The transaction is expected to be finalised by the end of the year and is subject to both regulatory approvals. Learn More …
No. 2 Singapore Life Approved as Fully Licensed Direct Life Insurer by MAS
Singapore Life Pte Ltd has been approved as a fully licensed direct life insurer by Monetary Authority of Singapore (MAS), making it as the first local insurer to be licensed since 1970.
Singapore Life will provide attractive alternative HNW solutions to individuals who prefer Singapore as a destination for their wealth and protection. Learn More …
No. 3 Deutsche Bank Wealth Management Plans to Hire 100 Client Managers and Invest in Digital Technology
Deutsche Bank Wealth Management aims to increase client coverage of high net worth individuals in Asia Pacific.
This contributes to half of total hires with the rest accounted for by managers covering entrepreneurs in US and ultra high net worth clients in UK, Middle East, other parts of Europe, Middle East and Africa region. Learn More …
No. 4 PIMCO Appoints Two Co Chief Operating Officers
Pacific Investment Management Co has named two co-chief operating officers to replace retiring President Jay Jacobs.
This is the biggest reorganisation since Chief Executive Officer Emmanuel “Manny” Roman joined the firm in November. Learn More …
No. 5 Tightened Regulation in China Slows Wealth Management Product Issuance
The outstanding balance of wealth management products (WMPs) distributed by banks reached reached 30 trillion yuan (about $4.4 trillion) as of April 2017, indicating 16.4-percent year-on-year growth, slower than the 23.6 percent in 2016 and 56.5 percent in 2015 according to a report by Moody’s Investors Service.
China Banking Regulatory Commission, has strengthened supervision of WMPs this year, requiring lenders to clearly disclose risks to investors. Learn More …
No. 6 Allianz Announces New Leadership Changes in Indonesia
Allianz has appointed Joos Louwerier as Country Manager & CEO of Allianz Life Indonesia where he will be in charge of growth and management responsibility of all Allianz operations in Indonesia.
Joos is currently CEO of Allianz Life Korea, and brings with him more than 16 years of experience in the global insurance industry. Learn More …
No. 7 NAB Selling Trust Business
NAB announced today that it has entered into an agreement with IOOF to sell its National Australia Trustees (NATL) business. Completion of the sale is subject to regulatory approval and is expected to be finalised in the next few months.
IOOF’s trustee business, Australian Executor Trustees (AET), is one of Australia’s largest and most experienced specialist providers of estate and trustee services. Learn More …
No. 8 BNY Mellon Appoints Asia Pacific Head of Asset Servicing
BNY Mellon has appointed Rohan Singh as Asia Pacific Head of Asset Servicing with effect from 27th June and will report to Samir Pandiri, Executive Vice President of BNY Mellon and Chief Executive Officer of Asset Servicing.
He will be in charge of APAC asset servicing business and drive the expansion of BNY Mellon’s capabilities in the Asia Pacific region. Learn More …
No. 9 Asia Pacific Experienced Fastest Increase in Overall Wealth in 2016
According to a study by Boston Consulting Group, Asia Pacific experienced the fastest increase in overall wealth in 2016 but is behind North America. Private wealth in Asia Pacific, including Japan, is expected to surpass North America by 2019 and hit $77.8 trillion by 2021.
Asia Pacific private financial wealth rose by 9.5% to $38.4 trillion compared with an increase of more than 12% in 2015. Learn More …
No. 10 UBS Appoints New Country Team Head
UBS has appointed Ya Ju Wu as Country Team Head of China International Country head. She is one of the firms most experienced bankers and will be based in UBS Kowloon office.
Wu started her UBS career in 1996 and has been critical in building up the bank’s Taiwan International business. In 2006, she was made desk head of the Taiwan International team. Learn More …
Credits: Reuters, Deutsche Bank Press Release, BNY Mellon Press Release, Allianz Press Release, NAB Press Release, Bloomberg, Rothschild & Co Press Release, finews asia, Boston Consulting Group
Jun 2017 Headlines
- Top Headlines in the Last 7 Days (29th May – 4th Jun 2017)
- Top Headlines in the Last 7 Days (5th – 11th Jun 2017)
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