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Top Headlines in the Last 7 Days
(7th Aug – 13th Aug 2017)
No. 1 Standard Chartered Reports Profit of $1.9 Billion for 1st Half 2017
Standard Chartered reported profit of $1.9 billion for 1st half 2017. Wealth Management’s business generated $658 billion in income, contributing 37.96% to total group income.
For Private Banking, Wealth Management revenue rose 7% at $144 million with Assets under Management at $58.8 billion. Learn More …
No. 2 BNP Paribas Reported €4.29 Billion Profit in 1st Half 2017
BNP Paribas total group profit hits €4.29 billion in 1st half 2017, an increased of 0.3% compared to 1st half 2016.
Wealth & Asset Management reported an increase in revenue at €1.53 billion and a pre-tax income of €443 billion in 1st half 2017. Learn More …
No. 3 BNP Paribas Adds Lemuel Lee as Deputy Head of Investment Services in APAC
BNP Paribas Private Banking has hired Lemuel Lee as deputy head of investment services in Asia-Pacific. He will oversee investments and advisory to clients in Hong Kong.
He succeeds Maggie Tsui, who remains a special adviser and will report to Arnaud Tellier, head of investment services in Asia. Learn More …
No. 4 Credit Agricole Group Reports €3.7 Billion Profit in 1st Half 2017
Credit Agricole Group has reported net income of €3.7 billion in 1st half 2017, an increase of 34% (YOY).
Under the group, Asset Management business (Amundi) reported €1.21 trillion of AUM, an increase of 11.7%. Learn More …
No. 5 VP Bank Hired Christian Christow as Head of Business Development
VP Bank has hired Christian Christow as Head of Business Development, reporting to Sylvain Gysler, Head of Intermediaries (Singapore).
He is the former Head of Intermediaries Business at Deutsche Bank, Singapore and has been based in Asia for 10 years. Learn More …
No. 6 Newton Investment Manager (BNY Mellon) Creates New Management Structure, New CIO
Newton Investment Management managing A$90 billion and part of BNY Mellon Investment Management, has introduced a new management structure.
Newton IM’s management team will include a Chief Executive Officer, Chief Investment Officer (new), Chief Operating Officer, Chief Risk Officer and Chief Commercial Officer. The firm has created the new role of Chief Investment Officer, filled by Curt Custard and will join Newton IM’s Board Learn More …
No. 7 Nikko Asset Management Appoints Jeremy Hall as Investment Director of Global Equity
Nikko Asset Management has appointed Jeremy Hall as Investment Director – Global Equity.
He will assume the role of portfolio manager within the Nikko AM Global Equity team based in Edinburgh, Scotland. Learn More …
No. 8 JTC Expands Further, Completes “NACT” Acquisition
Independent funds, corporate and fiduciary services provider JTC has completed the acquisition of New Amsterdam Cititrust B.V.(“NACT”), which was first announced in April 2017.
With the acquisition, it strength the firm’s presence in Europe and expanded its global footprint to include the Netherlands. Learn More …
No. 9 Official Statement from the Commonwealth Bank of Australia Chairman of the Board
Catherine Livingstone AO, Chairman of the Board of the Commonwealth Bank of Australia have provided an official statement on the the allegations (AML & CTF) in the statement of claim served by the Australian Transaction Reports and Analysis Centre (AUSTRAC).
Since 2015, when the alleged issues were brought to the Board’s attention, the bank had implemented key measures including fixing the coding error, changing key senior leadership, recruiting more than 50 financial crime compliance professionals and many more. Learn More …
No. 10 Gentoo Acquired by TMF Group, Disruptive Capital Finance Exit
Gentoo, a former SG Hambros corporate trust business was backed by Disruptive Capital Finance (DCF) to undertake the spin-out in 2011.
Following five years of strong growth, an agreement has been reached for the sale of Gentoo to the international group, TMF by Q4 2017, following regulatory approvals. Learn More …