Top Headlines in the Last 7 Days
(29th May – 4th Jun 2017)
No. 1 Credit Suisse and UOB Fined by MAS
The Monetary Authority of Singapore (MAS) has imposed financial penalties on Credit Suisse and United Overseas Bank (UOB) as well as issued Prohibition Orders (POs) against three individuals and served notice of its intention to impose the same regulatory action on three others for 1MDB-related transactions.
MAS has imposed on Credit Suisse and UOB financial penalties amounting to S$0.7 million and S$0.9 million respectively. Learn More …
No. 2 Bank of Singapore to Increase Minimum Entry Level for High Net Worth Clients
Bank of Singapore intends to hire more relationship managers and focus on serving a wealthier group of clients.
Chief Executive Officer Bahren Shaari has said the minimum amount a client must keep with the firm to qualify for its private-banking services will be raised to $5 million in a few years’ time from $2 million currently. Learn More …
No. 3 Janus and Henderson Completes Merger
Henderson Group and Janus Capital have completed their merger.
Janus Henderson will be listed on the New York Stock Exchange, with Henderson’s shares to be de-listed from the London Stock Exchange. The shares will also trade on the Australian Securities Exchange. Learn More …
No. 4 JTC Acquires Merrill Lynch’s International Trust and Wealth Structuring Business
Independent fiduciary, funds and corporate service provider JTC has confirmed its acquisition of Merrill Lynch Wealth Management’s International Trust and Wealth Structuring business.
In addition, Merrill Lynch and JTC have entered into a strategic relationship whereby JTC will offer a range of trust administration services to new and existing international advisory clients. Learn More …
No. 5 EFG Asset Management Partners witH GQG Partners LLC
EFG Asset Management (EFGAM) has partnered with GQG Partners LLC as exclusive distributor of the GQG Partners Emerging Markets Equity UCITS Fund (Fund) in Switzerland and Singapore, pending registration and fulfilment of other regulatory requirements.
The addition of a Global Emerging Markets (GEM) equity strategy to EFGAM’s pool of funds rounds out the strategy offering to its clients. Learn More …
No. 6 Central Provident Fund Investment Scheme-Included Funds Delivered 5.10% on Average in Q1 2017
Thomson Reuters Lipper announced its findings on the performance of all unit trusts and investment-linked insurance products (ILPs) that are under the Central Provident Fund Investment Scheme (CPFIS).
In Q1 2017, the overall performance of CPFIS-included funds rose 5.10% on average. Learn More …
No. 7 Deutsche Bank to Step up Hiring for Asian Wealth Management Business
Deutsche Bank Wealth Management plans to add 50 client-facing positions including relationship managers during the second half of the year after hiring 13 employees last month.
The bank is trying to rebuild its presence in Asia which has two years of declining assets under management. Learn More …
No. 8 Former CIMB Banker Admits Insider Trades
Alan Tay Yeow Kee, a former CIMB Group Holdings Bhd. banker, admitted to insider trading on two stocks before the companies received takeover offers.
He pleaded guilty to trading on price-sensitive information and was fined S$180,000 ($130,000). Learn More …
No. 9 St James’s Place Wealth Management Announces Senior Appointment
St James’s Place Wealth Management Asia has appointed Sir Alan Collins as Senior Advisor to the International Steering Committee.
His experience in South East Asia as a former British diplomat be invaluable as the business develops its position as a leading provider of face-to-face financial advice. Learn More …
No. 10 Fraud and Money Laundering Intelligence Taskforce Launched in Hong Kong
Police in collaboration with the Hong Kong Monetary Authority, the Hong Kong Association of Banks and a number of banks launched a 12-month pilot project, namely Fraud and Money Laundering Intelligence Taskforce (FMLIT).
This will increase the detection, prevention and disruption of serious financial crime and money laundering threats. Learn More …
Credits: Bloomberg, MAS Press Release, HKMA Press Release, EFG Asset Management Press Release, finews asia
May 2017 Headlines
- Top Headlines in the Last 7 Days (1st – 7th May 2017)
- Top Headlines in the Last 7 Days (8th – 14th May 2017)
- Top Headlines in the Last 7 Days (15th – 21st May 2017)
- Top Headlines in the Last 7 Days (22nd – 28th May 2017)
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