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Top Headlines in the Last 7 Days
(24th – 30th Jul 2017)
No. 1 DBS Appoints Hou Wey Fook as Chief Investment Officer
DBS has appointed Hou Wey Fook as Chief Investment Officer for Consumer Banking & Wealth Management reporting to Tan Su Shan, Group Head of Consumer Banking & Wealth Management.
He will be responsible for investment strategies including global strategic and tactical asset allocations for our clients. Learn More …
No. 2 UBS Reports 1st Half 2017 Results
UBS reported 1st half 2017 results with adjusted profit before tax at CHF 3.6 billion. Global Wealth Management contributed 58.33% or CHF 2.1 billion to the earnings while invested assets increased by CHF 16 billion to CHF 1,039 billion.
Asset Management’s invested assets reported a 9 year high of CHF 703 billion. Learn More …
No. 3 OCBC Group Reports Quarter 2 2017 Results
OCBC Group reported a net profit of S$1.08 billion in Q2 2017 and for 1st half 2017, S$2.06 billion.
Overall wealth management income, comprising income from insurance, private banking, asset management, stockbroking and other wealth management products, grew 51% to S$1.51 billion, from S$1.00 billion a year ago. Learn More …
No. 4 Lombard Odier Appoints Emmanuel Roulin as Head of Partnerships for Private Bank
Lombard Odier has named Emmanuel Roulin as the Head of Partnerships within the Private Bank. He will be responsible for implementing the bank’s growth strategy to enter new markets in APAC.
He had previously held a number of senior positions at the bank, including at its investment bank in Geneva and France. Learn More …
No. 5 Julius Baer 1st Half 2017 Results
Julius Baer achieved CHF 355 billion Assets under Management, an increase of CHF 19 billion or 6% in 1st half 2017, compared to the end of 2016.
Adjusted net profit is CHF 404 million while cost/income ratio is at 69%. Learn More …
No. 6 EFG International Reports 1st Half 2017 Results
EFG International reports CHF 138.4 billion Assets under Management at the end of first half 2017.
The underlying net profit is CHF 74.5 million versus CHF 38.1 million in the first half of 2016. Learn More …
No. 7 Vontobel Reports 1st Half 2017 Results
Vontobel reports 1st half 2017 results with adjusted net profit rising by 7% to CHF 106.1 million while cost-income ratio of is at 76.1%.
As at 30 June 2017, Wealth Management had around CHF 50 billion of client assets while the total assets reached a record CHF 207.7 billion. Learn More …
No. 8 Neuberger Hires New Portfolio Team Headed by Bin Yu
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 JTC Fiduciary Services Professionals Recognised in Leaders List 2017
Independent fiduciary, funds and corporate services provider JTC has eleven of its employees included in the Citywealth Leaders List 2017.
Group Chairman and Chief Executive Officer of JTC, Nigel Le Quesne, features in the list for a third consecutive year. Learn More …
No. 10 BLP Launches Cross-Border Family Asset Protection Team
International law firm Berwin Leighton Paisner (BLP) has launched a new Family Asset Protection team to provide cross-border and corporate family law expertise to high net worth (HNW) ultra-high net worth (UHNW) clients in London and Hong Kong.
Elizabeth Bradley, Partner and Global Head of Tax, said, “Marcus has a proven track record of success in Hong Kong, having advised Florence Tsang in the HK$1.2bn divorce case. Learn More …