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Top Headlines in the Last 7 Days 

(27th Mar – 2nd Apr 2017)

No. 1 Standard Life Sells Hong Kong Arm 

Standard Life has agreed to sell its Hong Kong arm, Standard Life Asia to Chinese joint venture, Heng An Insurance Company.

In the space of two weeks, Heng An is the second mainland firm to buy a Hong Kong based insurance company. Learn More …

 

No. 2 Manulife Appoints New President

Manulife announced that Roy Gori will be appointed the company’s President with effect from 5th June.

He will be in charge of Manulife’s global operating business, reporting to Chief Executive Officer Donald Guloien. Learn More …

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No. 3 Private Bankers in Standard Chartered Hong Kong to Leave

A group of Hong Kong based private bankers from Standard Chartered Private bank including a managing director will be leaving the firm.

Teresa Lee, managing director of Standard Chartered private banking in Hong Kong, and about 10 relationship managers on her team were leaving. Learn More …

 

No. 4 Aviva Looking to Sell Friends Provident International

Aviva PLC is looking to sell Friends Provident International, its unit that serves high net-worth clients in Asia and Middle East.

The deal could potentially fetch up to $750 million. Potential buyers for the unit include China’s Fosun and HNA Group. Learn More …

 

No. 5 Maybank Launches Islamic Private Wealth Solution

Maybank Islamic Bhd has started a new account for its Islamic private wealth clients, allow the HNW segment to maximise their balances in their vapours Islamic investment portfolios.

It will provide private wealth clients with comprehensive and exclusive private banking services. Learn More …

 

No. 6 Lombard Odier and Philippines Union Bank Co-Develops Two Onshore Funds

Lombard Odier and Union Bank have co-developed two onshore funds for private banking clients in Philippines.

Union Bank’s private banking clients will now be able to invest globally through onshore products with these two funds. Learn More …

 

No. 7 ICBC International Forms Strategic Partnership with China Renaissance 

Industrial and Commercial Bank of China (ICBC) has formed a strategic partnership with China Renaissance Group, a financial institution dedicated to serving new economy entrepreneurs.

Under the agreement, both parties will share strategic insights and resources and set up a special fund to collaborate in four key business areas – corporate finance, asset management, capital markets and wealth management. Learn More …

 

No. 8 Head of UBS Private Bank Switzerland Promoted

The Head of UBS Private Bank Switzerland has been promoted to run a unit which tailors investment bank style products for the ultra wealthy.

He will be in charge of the Investment Platforms and Solutions Unit or IPS with effect from next week. Learn More …

 

No. 9 HSBC Plans to Increase Headcount in China

HSBC plans to add as many as 1000 new employees to the Chinese rental banking and wealth management business this year, with most of them in the Pearl River Delta.

The numbers for China retail and wealth management business indicates growth remained strong, with its customer base as well as mortgage volume expanding by 51 percent in the Pearl River Delta last year. Learn More …

 

No. 10 Legg Mason Appoints New Head for Sydney Office

Legg Mason has appointed Matt Stovold as National Key Account Manager and Head of newly opened Sydney Office.

He will be in charge of driving retail distribution and key partnership relationship management in New South Wales and Queensland. Learn More …

 

Credits: finews asia, Legg Mason Press Release, Reuters, South China Morning Post, Wall Street Journal, Fund Selector Asia, China Renaissance Press Release, Wealthx, Manulife Press Release

March 2017 Headlines



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