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News in Brief - Caproasia Online

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Top Headlines in the Last 7 Days 

(18th – 24th Sept 2017)

No. 1 RBC Appoints Singapore Chief Executive Tho Gea Hong as Head of Wealth Management for South-East Asia

RBC Wealth Management has appointed Singapore Chief Executive Tho Gea Hong as Head of Wealth Management in South-East Asia.
Alongside, Mike Reed (Managing Director) has been appointed as Head of Distribution Strategy for Asia.  Cheng Yang (Managing Director) is appointed the Head of Business Strategy in Asia. Learn More …

No. 2 Goldman Sachs Appoints Ken Hitchner as Chairman and Chief Executive for Asia Pacific Ex-Japan

Goldman Sachs has appointed Ken Hitchner as Chairman and Chief Executive for Asia Pacific Ex-Japan.  He replaced Mark Schwartz who had retired.
He had joined Goldman Sachs in 1991 and was named Managing Director in 2000 and Partner in 2002. Learn More …

No. 3 Commonwealth Bank of Australia Reviews Colonial First State Global Asset Management, Including IPO Possibility

Commonwealth Bank of Australia is undertaking a strategic review of its global asset management business – Colonial First State Global Asset Management, known outside of Australia as First State Investments.
The strategic review will consider a range of options, including an IPO.  The asset management business is a global, diversified investment management business with A$219 billion.  Learn more …

No. 4 Emmanuel Bucaille Joins Manulife Asset Management from UBS

Emmanuel Bucaille had joined Manulife Asset Management as Senior Managing Director, Head of Wealth Solutions, Wealth & Asset Management for Asia.

He has over 30 years of experience with the last in UBS as Head Investment Products and Services Operating Office for UBS Wealth Management Europe.  Learn More …

No. 5 Standard Chartered Private Bank Hires Michelle Ho as Managing Director for Greater China & North Asia

Standard Chartered Private Bank has hired Michelle Ho as Managing Director for Greater China and North Asia.

She joins from Bank of Singapore where she was the Managing Director and Team Leader.  Prior, she was with DBS Private Bank, HSBC Private Bank and Barclays. Learn More …

 

No. 6 Commonwealth Bank of Australia Announces Sale of its Life Insurance Business to AIA for $3.8 Billion

Commonwealth Bank of Australia (CBA) announced the sale of its Australian (“CommInsure Life”) and New Zealand (“Sovereign”) life insurance businesses to AIA for $3.8 billion.  The $3.8 billion sale represents a P/E of 16.9x (FY2017).
The sale includes a 20-year partnership with AIA for the provision of life insurance products to customers in Australia and New Zealand.  AIA is the largest independent publicly listed pan-Asian life insurance group. Learn More …


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