Top Headlines in the Last 7 Days
(19th – 25th Sep 2016)
No. 1 Julius Baer Appoints New Marketing Head
Julius Baer has hired Florence Rollet as the new Head of Marketing. Florence Rollet joins from Tiffany & Co, where she was Group Vice President EMEA.
Previously, she held senior management roles in the luxury and consumer goods industry including LVMH Group, Coty Inc and Reckitt Benckiser Group. Learn More …
No. 2 Future of Deutsche Private Bank in Australia Unknown
Deutsche Australia is debating with some of its Asia based executives over the future of its local private banking operations. Executives in Asia have said that the unit is not profitable on a standalone basis.
However, local Deutsche banks still want the unit to remain operating as it is an important proposition for the investment bank and cross referrals. Learn More …
No. 3 Indonesians Declare $8.9 Billion of Singapore Assets for Tax
Of the total Singapore assets declared to the Indonesian government as of Sept 15, only 12% has been repatriated.
Launched in June, the tax amnesty offers a tax rate starting at 4 percent on declared assets that Indonesians choose to leave overseas. The rate increases progressively up to 10 percent as it approaches to a close in March. Learn More …
No. 4 PIMCO Drives Wealth Management in Asia
PIMCO has appointed Steven Chiu in Hong Kong as Senior Vice President and Head of Hong Kong Retail. He will be in charge of building distribution partnerships with retail banks, insurance companies and financial advisers.
Prior to this, Steven was the Vice President of Investment Funds of Manulife Asset Management. Learn More …
No. 5 Credit Suisse Appoints Experienced Adviser
Credit Suisse has appointed a senior adviser to work with current and potential wealth management clients.
Michael Wachtel has been an adviser to Australia multi nationals and High Net Worth families for over 30 years. Learn More …
No. 6 Citibank Launches Wealth Management Platform in Korea
Citibank Korea has launched Total Wealth Advisor to service for asset management.
This allows the relationship managers and portfolio counsellors to provide financial planning and investment asset management services for customers through a standard and systemized process. Learn More …
No. 7 DBS Named Asia’s Safest Bank for 8th Consecutive Year
DBS has been named “Safest Bank in Asia” by New York trade publication Global Finance for the 8th consecutive year. DBS is also third on the list of global safest commercial bank and 12th safest bank globally.
Within Asia itself, the Singapore banks dominate the list, with DBS topping the ranking. Learn More …
No. 8 Julius Baer Intends to Increase Hiring in Singapore & Hong Kong
Julius Baer intends to increase hiring in Singapore & Hong Kong as it foresees that Asia will overtake Europe as its largest revenue generating region. Asia generated about 532 million Swiss francs of Julius Baer’s operating income in 2015.
The percentage of revenue generated in Asia has been growing quickly and it has increased to roughly 20% from about 10% in 2011. Learn More …
No. 9 Deutsche Bank Confirms Closure of Private Bank in Australia
Deutsche Bank has confirmed it will close the Australia wealth management business and service its customers from Singapore and Hong Kong. The exit allows the bank to focus on investment banking products and services.
The transition of their client activities to other providers will be expected to complete in the first half of 2017. Learn More …
No. 10 Standard Chartered Appoints Global Head of Commodities
Standard Chartered has appointed Cengiz Belentepe as Global Head of Commodities. His responsibilities include providing commodities trading, hedging, financing and investment solutions.
Belentepe has over 20 years of board commodities experience. Learn More …
Credits: Finews Asia, DBS Press Release, Bloomberg, Australian Financial Review, Julius Baer Press Release
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