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Top Headlines in the Last 7 Days 

(24th – 30th Apr 2017)

No. 1 China Merchants Bank to Launch Private Bank in Singapore 

China Merchants Bank is launching a new private bank center in Singapore. It manages about 1.7 trillion yuan in private banking assets at the end of 2016.

China Merchants Bank vice president Liu Jianjun has stated his ambition to be the largest private bank in Asia. Learn More …

 

No. 2 Former Asia Chief of Julius Baer to Leave Julius Baer 

Thomas R. Meier has decided to leave Julius Baer by the end of October 2017 to pursue other activities.

He joined in 2005 and was responsible for developing growth markets in particular Asia where he managed to establish it as Julius Baer second home market. Learn More …

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No. 3 OCBC NISP to Launch Private Banking Service in May 

OCBC NISP Bank plans to launch a private banking service in May after it received a license to do so from the Financial Services Authority (OJK).

The bank is reported to have gained US$600.24 million in repatriation funds from the participants of the tax amnesty program from Indonesia. Learn More …

 

No. 4 DBS Cuts Executives’ Pay

DBS has cut senior executives pay by 13% last year and held them accountable for weaknesses in three areas including surging nonperforming loans.

Besides bad loans, the management has also penalised executives for weaker performance in Greater China and “control lapses” on regulatory front. Learn More …

 

No. 5 UBS Releases 1st Quarter Results

UBS delivered strong first-quarter results with an adjusted profit before tax of CHF 1,934m, up 42% year on year.

Adjusted operating income increased 8%, driven by the Investment Bank, Wealth Management Americas and Wealth Management, and the firm continued to make progress on its net cost reduction program. Learn More …

No. 6 Standard Chartered Releases 1st Quarter Results  

Retail banking income of $1.2 billion was up 2% year on year and 1% quarter and quarter.

This was due to higher income from Wealth Management and Deposits, particularly in Hong Kong, resulting from an increase in number of priority clients. Learn More …

 

No. 7 EFG International Updates Integration of BSI 

During the first quarter of 2017, EFG International made progress in integrating the acquired business from BSI.

Net assets were negative in the first quarter of 2017 due to outflows at BSI. There was a net attrition of CHF 3.5 billion towards the end of quarter. Learn More …

 

No. 8 Pictet Asset Management Appoints Investment Manager

Pictet Asset Management has appointed Andy Wong as co-manager for Pictet Strategic Income with immediate effect. He will co-manage Pictet Strategic Income.

Andy was working with Invesco Hong Kong as a senior fund manager in charge of multi-asset income mandates for Asian investors. Learn More …

 

No. 9 Commercial Affairs Department and Monetary Authority of Singapore Partner to Fight Financial Crime

The Commercial Affairs Department and Monetary Authority of Singapore launched a partnership to fight against money laundering and terrorism financing.

The Anti-Money Laundering and Countering the Financing of Terrorism Industry Partnership (ACIP) brings together selected industry participants, regulators, law enforcement agencies and other government entities. Learn More …

 

No. 10 US Prosecutors Investigating Ex- Goldman Sachs Banker Account

U.S prosecutors are now investigating the money flow through accounts linked to Tim Leisssner, the lead banker behind the transactions of 1MDB

Officials from the Federal Bureau of Investigation and Justice Department have been interviewing bankers familiar with 1Malaysia Development Bhd. about Leissner’s network of relationships. Learn More …

Credits: The Jakarta Post, MAS Press Release, finews asia, Bloomberg, Julius Baer Press Release, Standard Chartered Press Release, UBS Press Release, EFG Press Release

 

April 2017 Headlines



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