Top Headlines in the Last 7 Days
(2nd – 8th Jan 2017)
No. 1 Credit Suisse Appoints Singapore Chief Executive Officer
Credit Suisse has announced new appointments in the Singapore management team.
Benjamin Cavalli will be appointed as Singapore Chief Executive Officer in addition to his role as Head of Southeast Asia and Head of Singapore for Private Banking with effect from 1st January 2017. Learn More …
No. 2 Indosuez Appoints New CEO
Indosuez Wealth Management has appointed a Chief Executive Officer for Asia. Pierre Masclet is appointed Chief Executive Officer for Asia wealth management activities with effect from 1st January 2017. He has 25 years of experience working in the Indosuez’s wealth management activities.
He will lead the group’s wealth management activities in Asia and work closely with Antonie Candiotti, Chief Executive Officer in Hong Kong and Sen Sui, Commercial Head in Asia who is based in Singapore. Learn More …
No. 3 Singapore Asks Banks to Establish Clients’ Tax Residency Status
Singapore has asked financial institutions to indicate the tax residency status of all their clients and report of some of the financial data to authorities.
With effect from 1st Jan, Singapore has began complying with Common Reporting Standard (CRS) an internationally agreed standard which would allow countries to automatically exchange financial data for tax purposes. Learn More …
No. 4 Fidelity International Obtains Private Fund Management Licence in China
Fidelity International has announced its wholly foreign owned enterprise (WFOE) in Shanghai has become the first global asset manager to register with Asset Management Association of China (AMAC) as a private fund management company.
This will now allow Fidelity International to create onshore investment products in China for eligible Chinese institutional and high net worth investors. Learn More …
No. 5 Ex-Falcon Bank Manager Charged in Singapore
Singapore has charged the ex-Falcon bank manager in 1MDB linked case. Jens Sturzenegger now faces 16 charges including failing to report to authorities with regards to inflows of $1.27 billion into two bank accounts.
Sturzenegger who is out on bail is also accused of providing false information to authorities that he did not know Low Taek Jho. the Malaysian financier involved in 1MDB. Learn More …
No. 6 HSBC Private Bank Expands Indonesia Coverage
HSBC Private Bank will now have two teams covering Indonesia. Ingrid Widjaja and Lim Chee Kong will lead both teams. This is in tandem with the bank’s commitment to growing its business in Southeast Asia.
Widjaja will manage the existing team and Chee Kong will be leading the newly created team. Learn More …
No. 7 Ex-BSI Banker to Appeal
Yeo Jiawei, a former BSI SA banker found guilty of attempting to tamper with witnesses will appeal his conviction and sentence according to his lawyer. Yeo was sentenced on Dec. 22 to a 30-month jail term, the longest yet handed down by Singapore in 1MDB-related cases.
Yeo had denied the charges. He also faces money-laundering charges, which will be dealt with in a trial set for April. Learn More …
No. 8 Former Staff of HSBC Banned for Life
The Securities and Futures Commission (SFC) has banned Lam Yuk Wai, a former staff of HSBC from entering the industry for life.
The investigation found that Lam conducted over 100 unauthorized transactions in the accounts of seven clients, causing them to suffer substantial losses from September 2011 to 2015. Learn More …
No. 9 SFC Bans Former Employee of Citibank for Six Months
The Securities and Futures Commission (SFC) has banned Mr Cheung Kwan Po, an ex-employee of Citibank (Hong Kong) Limited from re entering the industry for six months from 5th January 2017 to 4th July 2017.
SFC found that Cheung when processing a client’s bond application, photocopied the client’s signature from her account opening documents and pasted the signature on her risk assessment form, and attempted to use the form to deceive Citibank into accepting the signature as genuine. Learn More …
No. 10 New IAM Set Up in Hong Kong
Jessica Cutrera, formerly a managing director of EXS Capital Asia has founded a new business in Hong Kong, called The Capital Company.
The firm is described as Hong Kong based independent asset management firm offering global and Asia specific investment strategies to international investors. Learn More …
December 2016 Headlines
- Top Headlines in the Last 7 Days (5th – 11th Dec 2016)
- Top Headlines in the Last 7 Days (12th – 18th Dec 2016)
- Top Headlines in the Last 7 Days (19th – 25th Dec 2016)