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Top Headlines in the Last 7 Days 

(5th – 11th Jun 2017)

No. 1 RHB & AmBank in Merger Talks

Malaysia’s RHB Bank and AMMB Holdings (AmBank) are starting merger talks to form a group worth about $9 billion.

RHB and AmBank have received the Malaysian central bank go ahead to start the merger negotiations. Learn More …

 

No. 2 Bank Mandiri Targets Singapore Private Banking Business

Bank Mandiri which operates in Singapore as an offshore bank plans to apply for another licence to run the private banking operations.

Mandiri’s move into Singapore’s private banking sector will require a “limited retail banking licence” so that it can serve high-net-worth Indonesians. Learn More …

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No. 3 AXA Investment Managers Received Regulatory Approval in Hong Kong

AXA Investment Managers has received approval from Hong Kong Securities and Futures Commission to increase its range of funds.

Two short duration funds are now approved for investors. Learn More …

 

No. 4 Hong Kong Private Wealth Management Industry Adopts the Treat Customers Fairly Charter

The Hong Kong Monetary Authority (HKMA) and the Private Wealth Management Association (PWMA) announced adoption of the Treat Customers Fairly Charter.

The Charter is targeted at private wealth management customers, and is a commitment to support and implement the principle of treating customers fairly. Learn More …

No. 5 Head of Equities Leaves JP Morgan Private Bank

Lemuel Lee, Head of Equities Asia at JP Morgan Private Bank in Hong Kong has left the role after less than a year in the role.

Lemuel was previously in charge of equity investment for Asian clients in JP Morgan cinluding managed and index funds. Learn More …

 

No. 6 EFG Asset Management’s New Capital Swiss Select Equity Fund Celebrates Top Rankings

EFG Asset Management’s New Capital Swiss Select Equity Fund passed its 3rd year with AUMs reaching CHF 117 million.

Since inception, the fund has delivered an annualised performance of 14.1% and total return of 52.8%. Learn More …

 

No. 7 Morgan Stanley Changes Wealth Management Unit

Morgan Stanley has shuffled its wealth unit and took off a layer of management.

Mandela Crawley, the bank’s Chief Marketing Officer will replace Vince Lumia as Head of Private Wealth Management. Learn More …

 

No. 8 Hang Seng Bank CEO to Retire

Ms Rose W M Lee will retire from Hang Seng back and will cease to be Vice Chairman and CEO of the bank with effect from 1st July 2017.

Ms Louisa W W Cheang, Group General Manager of HSBC Holdings plc and Group Head of Retail Banking of HSBC will be appointed as Vice-Chairman and Chief Executive of the Bank with effect from 1 July 2017. Learn More …

 

No. 9 Two of Australia’s Richest Families to Merge their Family Offices

Two of the nation’s richest families, the Myer and Baillieu families, are planning to merge their family office operations to create a $3 billion wealth management and intergenerational advisory firm.

The Myer family’s holding company Myer Family Investments (MFI) and the Baillieu family’s Mutual Trust will announce a conditional heads of agreement to combine Mutual Trust and the Myer family office known as MFCo. Learn More …

 

No. 10 Northern Trust Names Head of Sydney Office

Northern Trust has appointed Sally Surgeon as Head of its Sydney office.

With effect from 1st June 2017, Surgeon will be responsible for all aspects of Northern Trust’s growing Sydney office, including supporting various industry, client and consultant relationships in the city. Learn More …

 

Credits: Reuters, finews asia, Northern Trust Press Release, HKMA Press Release, Hang Seng Bank Press Release, EFGAM Press Release, The Australian

Jun 2017 Headlines



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