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Top Headlines in the Last 7 Days
(31st Jul – 6th Aug 2017)
No. 1 HSBC Holdings Reported $10.2 Billion Profit for 1st Half 2017
HSBC Holdings reported $10.2 billion profit for 1st half 2017, up $0.5 billion or 5% compared to 2016. $7.63 billion or 74.5% of the $10.2 billion profit originated from Asia. In the same period in 2016, 73.7% of profit had came from Asia.
Retail Banking and Wealth Management delivered $3.35 billion in profit. Learn More …
No. 2 DBS Group Net Profit at $2.35 Billion in 1st Half 2017
DBS Group achieved record net profit of SGD 2.35 billion for first-half 2017, up 4% from previous year. Wealth management fees increased to SGD 467 million from higher sales of unit trusts and other investment products.
Combined, Consumer Banking and Wealth Management income rose 10% to SGD 2.30 billion as all product segments were higher. Learn More …
No. 3 Julius Baer Appoints Rajesh Manwani as Head Markets & Advisory Solutions Asia
Julius Baer has appointed Rajesh Manwani as Head Markets and Advisory Solutions Asia. Based in Singapore, he will report to Peter Gerlach, Head Markets and Philipp Rickenbacher, Head Advisory Solutions, and regionally to Jimmy Lee, Head Asia Pacific.
In over 19 years, he took on global, regional and country roles in UBS, Standard Chartered and the last nine years in Credit Suisse, where he was Managing Director, Head of Investment Solutions & Products APAC. Learn More …
No. 4 91 Year-Old Manulife Agent Sets Longest Corporate Sales World Record
91 Year-Old Manulife life insurance sales agent, Sun Yung Tsu (Joe Sun), has been awarded a GUINNESS WORLD RECORDS™ title as “the longest career as a corporate salesperson”. The record was set after doing life insurance sales for 62 years and 238 days with Manulife Hong Kong.
In 1954, he was one of only 7 successful applicants among 400 who had applied. Learn More …
No. 5 UOB Reports $1.65 Billion Profit for 1st Half 2017
UOB Group reported S$1.65 billion profit for 1st half 2017, 5.5% higher than the year before.
Net interest income grew 7.0% to $2.66 billion, led by loan growth across most territories and industries while non-interest income increased 9.3% to $1.65 billion. Learn More …
No. 6 Nuveen Opens Hong Kong Office & Expands Asia-Pacific Team
Nuveen, a TIAA company with more than $900 billion in assets has opened a Hong Kong office. It is expanding its distribution capabilities to serve clients across the Asia-Pacific region and broaden access to the firm’s platform of specialized investment expertise.
The Hong Kong office is led by Simon England-Brammer, Senior Managing Director and Head of Asia-Pacific, who reports to John Panagakis, Nuveen’s Head of International Advisory Services. Learn More …
No. 7 Commonwealth Bank of Australia to File Defence Against AML & CTF Charges
Commonwealth Bank of Australia are currently reviewing AUSTRAC’s claim for serious and systemic non-compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and will file a statement of defence.
AUSTRAC’s alleges over 53,700 contraventions of the AML/CTF Act by Commonwealth Bank of Australia. Learn More …
No. 8 Hang Seng Bank Profit Up 23% to HKD 11.6 Billion
Hang Seng Bank profit rose 23% to HKD 11.6 billion. Retail Banking and Wealth Management businesses contributed HKD 6.2 billion or 53.6% to total profit before tax.
Investment services income generated HKD 1.9 billion while Insurance income produced HKD 2.5 billion. Learn More …
No. 9 Charismatic Capital to Launch Debut Private Debt Fund
Charismatic Capital Ltd will be launching its debut private debt fund focusing on asset backed loans in Asia and Europe.
The $250 million Charismatic Debt Equity Fund, Dublin-domiciled, is a three-year closed-ended alternative investment fund. Learn More …
No. 10 Abu Dhabi Global Market Inks New Partnerships with Labuan
Abu Dhabi Global Market (ADGM), the International Financial Centre of Abu Dhabi, Labuan International Business and Financial Centre (Labuan IBFC) and Labuan Financial Services Authority (Labuan FSA) have entered into new partnerships.
Together, they will foster greater collaboration on joint financial activities and regulatory practice that support the growth and development in both financial ecosystems in Labuan, Malaysia and Abu Dhabi. Learn More …