Top Headlines in the Last 7 Days
(24th – 30th Oct 2016)
No. 1 HSBC Names Asia Pacific Private Banking Head
HSBC has named Siew Meng Tan as Regional Head of Global Private Banking, Asia Pacific from 1st January 2017.
She will replace Bernard Rennell who was senior advisor to chief executive for key client coverage in global private banking business. She has been with HSBC for 12 years and has had several senior roles. Learn More …
No. 2 Net Profit in UBS Falls
UBS Group AG said that net profit declined in the third quarter. It has been struggling to increase revenue as clients have stopped putting their assets in trades and investments.
Net profit in the same period had fallen to 827 million Swiss francs from 2.1 billion francs in the same quarter last year. Learn More …
No. 3 DBS Private Bank Fifth Largest in Assets Under Management in Asia Pacific
According to a report by Private Banker International, DBS Private Bank has notched a spot amongst the top five banks in 2016 with US$79 billion in Assets Under Management. Previously, it was No. 8 in last year rankings.
Singapore private banks has seen growth in their year on year AUM figures with DBS Private Bank seeing an 8.2% increase in AUM. Learn More …
No. 4 DBS & Julius Baer Bidding for ABN AMRO Asia Wealth Unit
DBS & Julius Baer are contemplating bids for ABN AMRO Group’s Asia Private Banking Business that manages about $20 billion in assets.
ABN AMRO plan comes after several banks have withdrawn from private banking in Asia due to the pressure of cost reduction and slowing growth int the region. ABN AMRO has hired Lazard Ltd to advise on the sale. Learn More …
No. 5 Bank of Singapore Reports Growth in Assets Under Management and Revenue
Bank of Singapore reported growth in assets under management. The AUM as of 30th September 2016 was S$85 billion, an increase of 20% from US$74 billion a year ago.
This does not include the contributions from acquisition of Barclays Wealth and Investment Management business in Singapore and Hong Kong. Learn More …
No. 6 Northern Trust Appoints New Head of Global Fund Services in Asia
Northern Trust has appointed Caroline Higgins as the New Head of Global Fund Services with immediate effect. She will focus on bringing Northern Trust range of fund servicing solutions to Asia clients, expanding its products and capabilities.
During her career, Higgins has worked in Ireland, Australia and Hong Kong and has 25 years of experience working in the fund servicing industry. Learn More …
No. 7 Former Head from HSBC Joins Corporate, Fund Services and Trust Firm
Zedra has hired a Managing Director for Singapore. Wendy Sim joins Zedra from HSBC Private Bank where she was Head of Family Governance and Family Enterprise Succession, South Asia.
She has had 20 years of experience working in wealth management and estate planning for Asian corporate, high net worth individuals and families. Learn More …
No. 8 Strong First Half Growth Figures for Bordier in Europe
Bordier had an increase of about 5% compared with end of 2015. Bordier had assets under management of 10.7 billion francs at the end of first half of 2016.
The growth in Paris & London was more than 10%. The Paris unit now has 445 million euros under management and London has 1.2 billion GBP under management. Learn More …
No. 9 HSBC Private Bank Appoints Regional Head of Global Solutions Group
HSBC Private Bank has named Johnny Liu as Managing Director, Regional Head of Global Solutions Group (GSG), Asia Pacific with immediate effect.
He was with Credit Suisse and was Head of Shareholder Coverage and Corporate Advisory in Greater China.
Liu and team will be in charge of developing non traditional wealth management ideas for some of bank’s top clients. Learn More …
No. 10 Abu Dhabi Investment Authority Opens Office in Hong Kong
One of the world’s biggest sovereign wealth fund Abu Dhabi Investment Authority (ADIA) announced the opening of its office in Hong Kong.
ADIA has also appointed Mr Dong Sinh Ngo as Chief Representative, Asia Pacific in Hong Kong. The office will serve to deepen the network of relationships and identify new opportunities in China and other key Asian markets. Learn More …
Credits: Finews Asia, Reuters, Wall Street Journal, OCBC Press Release, Abu Dhabi Investment Authority Press Release
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