Top Headlines in the Last 7 Days
(13th – 19th Feb 2017)
No. 1 LGT Bank Appoints New CEO
Norbert Biedermann, CEO of LGT Bank Ltd since 2011 will retire by the end of June 2017. The bank has elected Roland Schubert as the new CEO.
He joined LGT in 2002 and was in charge of building the private banking business in Germany and seven German locations. Learn More …
No. 2 RBC Appoints New Head of Wealth Management – International
RBC Wealth Management has appointed Ashif Ratanshi as Head of Wealth Management – International with effect from 1st May 2017. He will be in charge of leading the wealth management business in UK, Channel Islands and Asia.
Mr Ratanshi was previously responsible for developing and implementing the overall strategic direction for all aspects of branch investments, deposits and direct investing business in RBC. Learn More …
No. 3 World’s Largest Asset Manager Ended 2016 with $5.12 Trillion AUM
BlackRock has recorded $202 billion of full year total net inflows for 2016, including $181 billion of long term net inflows. This brings their total AUM in 2016 to $5.12 trillion
The results in 2016 show BlackRock commitment in investment, technology and risk management capabilities. Learn More …
No. 4 J Safra Sarasin Appoints Executive Director
J Safra Sarasin has appointed Sumit Chaturvedi as Executive Director. Previously he was a Team Head at ANZ managing a group of wealth managers for the NRI business in Singapore.
He also spent several years with Citibank in Singapore and India where he managed clients in the high net worth segment of the NRI team. Learn More …
No. 5 SFC Bans Former Employee of HSBC for Life
The Securities and Futures Commission(SFC) has banned Ms Li Lee, a former employee of HSBC from entering the industry for life after her criminal convictions.
She was responsible for making false claims to her employer that she sold certain unit trust funds and an insurance product to five customers. Learn More …
No. 6 OIL Rebrands to Vistra
OIL, Asia’s leading company formation specialist has officially rebranded to Vistra. The rebranding starts a new chapter for Vistra and completes the final step in operating as a united business.
Moving forward, the OIL business will now be a basis of Vista’s Company Formation division to complement the broader service offerings under the Vistra brand. Learn More …
No. 7 OCBC Reports 2016 Figures
OCBC reported a net profit after tax of S$3.47 billion for the financial year ending 31st December 2016. (“FY16”). Against (“FY15”) performance, net profit after tax was 11% lower.
This decline in earnings was due to a raise in net allowances and lower trading and insurance income. Learn More …
No. 8 DBS Reports 2016 Figures
DBS Group reported a net profit of SGD 4.24 billion for 2016, 2% lower than 2015 as it was offset by higher allowances.
Income from Consumer Banking/Wealth Management rose 21% to SGD 4.28 billion. Wealth Management customer segment income increased 19% to SGD 1.68 billion with assets under management growing 14% during the year to SGD 166 billion. Learn More …
No. 9 New Chief Investment Officer at ANZ
ANZ has appointed Mark Rider as Chief Investment Officer for Wealth Australia.
He joined in 2013 as Head of Investment Strategy and Asset Allocation and was in charge of management of the $30 billion dollar multi asset funds in Australia and New Zealand. Learn More …
No. 10 Bank of China (HK) to Convert Current Building to Regional Headquarters
Bank of China (HK) will be converting its current historical old Bank of China building into a regional headquarters for its private banking unit as it expands services to cater to the increasing number of mainland millionaires.
The private banking centre will occupy 2,000 square feet on ground floor, second floor and eighth floor. Learn More …
Credits: finews asia, South China Morning Post, ANZ Press Release, Vistra Press Release, SFC Press Release, LGT Press Release, DBS Press Release, RBC Press Release, OCBC Press Release, BlackRock Press Release
February 2017 Headlines