Top Headlines in the Last 7 Days
(19th – 25th Dec 2016)
No. 1 Ex-BSI Banker Yeo Gets 30 Months Jail Term
Yeo Jiawei, an former BSI banker was given a 30 months jail term after being convicted of obstructing justice in Singapore’s linked to 1MDB. This is the most severe punishment given to a banker by Singapore courts.
He is the 3rd former BSI banker found guilty in Singapore’s 1MDB related probes. Learn More …
No. 2 Asset Management Unit of State Street Appoints New Head
The Asset Management unit of State Street Corporation, State Street Global Advisors has appointed James Ong as Managing Director and Head of Client Relationship Management for Southeast Asia.
He has more than 20 years of sales experience in institutional and intermediary channels in the region. He was previously a Client Director at HSBC Global Asset Management & UOB Asset Management. Learn More …
No. 3 Senior Banker Leaving Standard Chartered Private Bank
The Head of Investment Advisory for Southeast Asia at Standard Chartered Private Bank is leaving. Mario Becker has been at Standard Chartered for seven years and is based in Singapore, overseeing the Ultra High Net Worth clients.
Previously, he was working at Deutsche Bank wealth management division. Learn More …
No. 4 Bank of Singapore Considers Setting up Private Bank in UK
Chief Executive Bahren Shaari said that Bank of Singapore is considering to set up a private bank in UK as the costs have fallen due to the drop in pound.
Bank of Singapore is committed to opening a branch in Dubai’s International Financial Centre early next year. He has not given a timeframe on when the London operation could be launched. Learn More …
No. 5 First Names Groups Names Karen O’ Hanlon as Managing Director of Singapore Business
First Names Group, one of the world’s largest independent trust, fund, real estate and corporate service providers has announced the promotion of Karen O’ Hanlon to Managing Director of Singapore business.
Prior to First Names Group, Karen was a Director for Client Services at Asiaciti Trust where she led the local team and acted as personal Resident Director and Manager to Singapore companies and LLPs. Learn More …
No. 6 Allfunds Opens First Branch in Singapore
Europe’s largest platform Allfunds opens its first branch in Singapore to service the local business as well as those in Hong Kong and Taiwan. Allfunds provides operational cost savings for fund distributors and providers and expands the open architecture appeal across Asia.
The expansion will create new opportunities for asset managers. Learn More …
No. 7 Vistra Annonces Acquisition of Jordans Group
Vistra has announced the acquisition of Jordans Group from the current shareholder, The West of England Trust Limited.
Jordans Group comprises of four companies and is renowned as the leading UK company formation services provider, in addition to providing corporate and commercial legal expertise and compliance services. Learn More …
No. 8 LGT Private Bank Considers Further Asian Acquistions
LGT private bank which acquired ABN Amro’s Asian private bank is targeting further growth in the region. LGT said that it expected to see its assets under management in Asia grow over US$40 billion due to the acquisition of ABN Amro’s Asian and Middle Eastern operations.
The Chief Executive of LGT has added that it is looking to grow in region, predominately through organic growth. But if they see the right opportunity to create value through a good acquisition, they will do it. Learn More …
No. 9 Bank of China (Hong Kong) Opens in Brunei
Bank of China (Hong Kong) became the first Chinese financial institution to set up in Brunei. Including the Brunei branch, Bank of China’s overseas set up now covers 49 countries. The move is part of a plan to extend its coverage to all of the 10 ASEAN countries.
The grand opening ceremony of the branch was conducted in Empire Hotel & Country Club in Brunei. Learn More …
No. 10 Ex-BSI Banker Yeo Jiawei Convicted
Yeo Jiawei, a former banker at BSI SA was convicted of obstructing justice in singapore’s probe linked to 1Malaysia Development Bhd.
Prosecutors have claimed that he tried to tamper with witnesses to hide his illicit wealth and downplay his ties with Malaysian financier Low Taek Jho. He is the third former BSI banker found guilty in Singapore’s 1MDB related probes. Learn More …
Credits: Finews Asia, Bloomberg, First Names Group Press Release, Fortuna Asset Management Press Release, Financial Times, South China Morning Post
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