SHARE
Newswire

Are you looking for your next career? Banks, Private Banks, IFAs, Fund Management Co.? Search for wealth & investment Jobs here or join mailing list or receive updates here

Caproasia Online Logo 1 Square 400 by 400

Top Headlines in the Last 7 Days 

(17th – 23rd Jul 2017)

No. 1 EFG and BTG Pactual Settle on Final Price at US$1 Billion

EFG International and BTG Pactual have struck a deal on the final price for BSI Bank for under 1 billion Swiss francs after billions in outflows at BSI had dragged down the transaction value.

Its original price estimate was for 1.3 billion francs when the transaction was announced in February 2016. Learn More …

 

No. 2 UBP Net Profit Increases 21.6% from 2016

Net profit at the end of June 2017 was CHF 109.5 million, up 21.6% from CHF 89.9 million a year earlier. Assets under management totalled CHF 118.9 billion at the half-year.

Operating revenues grew by 12.5% year on year, from CHF 452.9 million at mid-year 2016 to CHF 509.5 million at the end of June 2017. Learn More …

 

No. 3 Aviva Sells Friends Provident 

Advertisement


Aviva has sold off Friends Provident International which made a loss of £2m in 2016, to international life assurance group RL360.

The sale means that Aviva will completely pull out of wealth management in Dubai, Hong Kong and Singapore once the deal completes. Learn More …

 

No. 4 BlackRock Plans to Launch Private Fund in China

BlackRock is preparing to set up a private fund in China. The firm intends to set up a wholly foreign owned enterprise (WFOE) first for its private fund business.

Global fund managers have rushed to China’s economy as it opens up the capital markets to help counter outflows and promote the use of the yuan. Learn More …

 

No. 5 UOB Receives In-Principle Licence from State Bank of Vietnam

UOB is the first Singapore bank to receive in-principle foreign owned subsidiary bank (FOSB) licence from State Bank of Vietnam.

The licence would allow the bank to extend its network beyond Ho Chi Minh City and to offer its products and financial solutions to business and consumers in other cities. Learn More …

 

No. 6 Janus Capital’s Former Head of Asia to Depart

Gigi Chan, the Chief Operating Officer and Head of Asia-Pacific will leave at end of July after the merger with Henderson Global Investors.

This will be one of the most prominent exits from the Asia leadership team to date, just two months after the merger between Janus Capital (Janus) and the Anglo-Australian Henderson Global Investors (Henderson) closed on May 30.  Learn More …

 

No. 7 VP Bank to Double Headcount

CEO of VP Bank in Singapore Bruno Morel plans to increase staff numbers.

VP bank has developed a strong franchise in the intermediary business which has grown as more independent asset managers are established throughout the region. Learn More …

 

No. 8 Commonwealth Bank of Australia to Review Life Insurance Unit

Commonwealth Bank of Australia is considering options for the life insurance business, which could include a sale of the unit. It is valued as much as $5 billion.

According to data from PWC, the life insurance business is the third biggest in Australia. The unit had 11.4% of the life insurance market as of 30th June 2016. Learn More …

 

No. 9 Credit Suisse Hiring Private Bankers in Saudi Arabia

Credit Suisse is planning to hire more private bankers in Saudi Arabia. This comes after the bank formed a platform allowing it to offer private banking services and products in the country.

Credit Suisse continues to seek a banking license for Saudi Arabia that would allow it to open branches in the kingdom. Learn More …

 

No. 10 Credit Suisse Hires New Head of Investment Management

Credit Suisse has hired Jacqueline Koo as the new Head of Investment Management, Hong Kong

She has over 20 years of Discretionary Portfolio Management experience and has led teams and developed regional platforms. Learn More …

 

Credits: BloombergReuters, UBP Press Release, finews asia, Telegraph, UOB Press Release, Australian Financial Review, Asia Asset

Jul 2017 Headlines



Caproasia Online is an E-Magazine for Wealth Managers, Private Bankers & Investment Professionals.  View latest jobs in Banks, Private Banks, IFAs, Fund Management here or join our mailing list or receive updates here

For content usage and citations, kindly provide a backlink or whenever possible – Source: Caproasia
SHARE

The Preferred E-Magazine for Wealth Managers, Private Bankers & Investment Professionals in Asia